Measuring and managing operational risk in industrial processes

Abstract

The risk of not achieving process outcomes in key processes should be identified and reduced to achieve better results. The identification of risks involves defining the possible events that compromises the achievement of process outcomes and also the consequences of the occurrence of these events. This paper proposes a methodology to minimize operational/technical risk across different processes or departments, minimizing the possibility of spending excessive resources in a given process while other processes pose bigger risks to the organisation or considered system. The probability of occurrence of the events that hinder the achievement of outcomes can be influenced by some technical, administrative or management actions. The methodology is tested through a case study of a CNC milling section on a furniture manufacturing process. The reliability of a key item, electrospindles, is determined and the influence of maintenance activities on such reliability and therefore on risk is analysed.

Algorithm for calculating influence of power transformer oil temperature change on the accuracy of allacoustic non-iterative partial discharge localization

“…The equation of the intersecting plane for the spheres (1) and (2) can be obtained by taking difference of (1) and (2). This equation of intersecting plane is given in (5).…”

“…Long-life operation and maintenance of technical objects requires special attention on the condition monitoring methods, strategies chosen in maintenance routine and evaluation of risks that should be performed to prioritize actions that reduce the global impact on the organization or system outcomes [1,2].…”

Assessment methods of production processes reliability – state of the art

“…On the other hand, in [31], the authors defined the reliability of production process in the context of the probability of consumer demand and the performance level of a production system. The authors of [52] propose a very general definition, taking reliability of system/process as the likelihood of events that prejudice the achievement of results.…”

“…Moreover, a number of studies may be found in the literature covering the risk analysis of production processes/systems performance based on the use of basic reliability analysis methods (e.g. [4,25,52]), or diagnostics and forecasting for maintenance of production systems and processes (e.g. work [57]).…”

“…In turn, the authors of the paper [52], distinguished two main groups of methodologies for analysis of reliability of production systems/processes: analytical methods (including the Markov chain method, contingency enumeration method, and minimal path method), and the simulation methods (the Monte Carlo method). In addition, the authors [8] identified five major groups of reliability models of production processes and systems, highlighting among others, indicator assessment models, maintenance models of production machines, and models based on the use of quality engineering.…”