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In engineering, reliability, availability, maintainability and safety (RAMS) [1] [2] is used to characterize a product or system: Reliability: Ability to perform a specific function and may be given as design reliability or operational reliability; Availability: Ability to keep a functioning state in the given environment
Risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. [1] [2] The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences. [1] [3]
High-availability systems may report availability in terms of minutes or hours of downtime per year. Availability features allow the system to stay operational even when faults do occur. A highly available system would disable the malfunctioning portion and continue operating at a reduced capacity.
Risk is the lack of certainty about the outcome of making a particular choice. Statistically, the level of downside risk can be calculated as the product of the probability that harm occurs (e.g., that an accident happens) multiplied by the severity of that harm (i.e., the average amount of harm or more conservatively the maximum credible amount of harm).
The marine and air transportation, [9] offshore structures, [10] industrial plant and facility management industries depend on maintenance, repair and overhaul (MRO) including scheduled or preventive paint maintenance programmes to maintain and restore coatings applied to steel in environments subject to attack from erosion, corrosion and environmental pollution.
A Risk register plots the impact of a given risk over of its probability. The presented example deals with some issues which can arise on a usual Saturday-night party.. A risk register is a document used as a risk management tool and to fulfill regulatory compliance acting as a repository [1] for all risks identified and includes additional information [1] about each risk, e.g., nature of the ...
QFD house of quality for enterprise product development processes. The term systems engineering can be traced back to Bell Telephone Laboratories in the 1940s. [1] The need to identify and manipulate the properties of a system as a whole, which in complex engineering projects may greatly differ from the sum of the parts' properties, motivated various industries, especially those developing ...
Probabilistic risk assessment (PRA) is a systematic and comprehensive methodology to evaluate risks associated with a complex engineered technological entity (such as an airliner or a nuclear power plant) or the effects of stressors on the environment (probabilistic environmental risk assessment, or PERA). [1]