Risk assessment and optimization of a safety system using the maros simulation package

Abstract

The performance of a pressure-surge relief system which acts as a safety mechanism within the export facility of an oil terminal is analysed in detail. Dynamic simulation methods are integrated with failure mode effects analysis to establish the risk of catastrophic failure of the terminal. An optimization procedure is presented which demonstrates the use of simulation to establish suitable inspection, testing and preventive maintenance schedules which maximize the effectiveness of the surge relief system over its design life. The importance of such activities is evidentleft unattended the surge-relief system will not meet minimum safety standards, whereas planned maintenance and testing is shown to improve safety standards above the minimum required.

Assessing Performance Risk for Complex Product Development: A Simulation‐Based Model

“…To ensure the project 100% success, the subsystems need to be redeveloped once again when such a failure occurs. 7 Many methods have been proposed to analyze the technical risk, such as failure mode effect analysi, 8,9 probability risk assessment, 10,11 the risk matrix method, 12 the system dynamics method, 13 the graphical evaluation and review technique (GERT), 14 and the Bayesian network. 15,16 In these studies, technical risk and performance risk are not distinguished clearly and often taken as the same.…”