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For example, a Deloitte report states that by implementing an IIOT solution integrating data from multiple internal and external sources (such as work management system, control center, pipeline attributes, risk scores, inline inspection findings, planned assessments, and leak history), thousands of miles of pipes can be monitored in real-time.
The primary objective of PSA was to establish a baseline for security in the IoT sector, catering to the needs of both software and device manufacturers. Over time, PSA evolved into PSA Certified, a more structured, four-stage framework. This development aimed to provide IoT designers with a systematic approach to ensuring security.
Manufacturing strategy refined and integrated with Risk Management Plan. Identification of enabling/critical technologies and components is complete. Prototype materials, tooling and test equipment, as well as personnel skills, have been demonstrated on components in a production relevant environment, but many manufacturing processes and ...
The IoT can connect various manufacturing devices equipped with sensing, identification, processing, communication, actuation, and networking capabilities. [78] Network control and management of manufacturing equipment , asset and situation management, or manufacturing process control allow IoT to be used for industrial applications and smart ...
This typically involves review of the various risk assessments performed by the enterprise (e.g., strategic plans, competitive benchmarking, and SOX 404 top-down risk assessment), consideration of prior audits, and interviews with a variety of senior management. It is designed for identifying audit projects, not to identify, prioritize, and ...
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]