Risk analysis for clean and sustainable production in a urea fertilizer industry

2018 ◽  
Vol 35 (7) ◽  
pp. 1459-1476 ◽  
Author(s):  
Dilbagh Panchal ◽  
Sachin Kumar Mangla ◽  
Mohit Tyagi ◽  
Mangey Ram
Keyword(s):  
Risk Analysis ◽  
Maintenance Policy ◽  
Efficient Manner ◽  
System Availability ◽  
Content Type ◽  
Urea Fertilizer ◽  
Fertilizer Industry ◽  
Risk Ranking ◽  
Fuzzy Fmea ◽  
Effective Decision Making

Purpose The purpose of this paper is to develop a fuzzy methodology approaches based framework for carrying the risk analysis of a real industrial system of a urea fertilizer industry located in northern part of India. Design/methodology/approach Petri Net approach was applied for representing the series-parallel arrangement of the considered system. Various failure causes related to different subsystems or equipment of the considered system were listed under FMEA approach and their Risk Priority Number was tabulated. Further, to overcome the drawbacks of traditional FMEA approach in risk ranking fuzzy FMEA and grey relation analysis (GRA) approaches were applied within traditional FMEA approach and the ranking results were compared for better and effective decision making of risky components. Findings The proposed framework has overcome the drawbacks of tradition FMEA approach in an effective and efficient manner. Causes AC7, CL3, ST2, DR3 and NR3 of centrifugal compressor, hot heat exchanger, ammonia convertor reactor, cold condenser and ammonia separator have been identified as the most critical failure causes of the considered system. Originality/value The proposed framework has been tested with its application on an ammonia synthesis system of the considered process industry. The risk ranking results would be highly useful in developing a planned maintenance policy for the considered system which further results in improving the system availability.

scholarly journals Safety and risk analysis at railway crossings of north-south Addis Ababa light rail

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jackson Sekasi ◽  
Habeeb Solihu
Keyword(s):  
Risk Analysis ◽  
Human Factors ◽  
Visual Inspection ◽  
Safety Management ◽  
Addis Ababa ◽  
Light Rail ◽  
Content Type ◽  
Risk Ranking ◽  
Safety Risks ◽  
Railway Crossing

Purpose Railway-level crossings (RLCs) are the point of intersection between rail and road users and are therefore hotpots of road-rail user conflict and catastrophic collisions. The purpose of this study is to assess the risks associated with RLCs and suggest probable reduction measures. Through questionnaires and visual inspection, the authors identify the safety risks, hazards and hazardous events at some railway crossing of Addis Ababa light rail transit (AA-LRT) north-south (N-S) route. The identified risky events are then categorized based on As Low As Reasonably Practicable (ALARP) principle and generic risk ranking matrix. The authors then examine existing safety management measures at railway crossing and assess the need for additional safety management. Five major crossings on the 16.9 km (10.5 mi) N-S line, starting from Menelik II Square to Kality, were considered for the study. This study is carried out by data collection from about 145 stakeholders and the application of statistical data and risk analysis methods. The major findings of this study and the recommendations for improvement are suggested. Design/methodology/approach The research followed a case study approach. Through questionnaires and visual inspection, the authors identify the safety risks, hazards and hazardous events at some railway crossing of AA-LRT N-S route. The identified risky events are then categorized based on ALARP principle and generic risk ranking matrix. Collected data was then analyzed using SPSS to deduce relationships. Findings The study findings reveal human factors as the greatest cause of accidents, injury or death. About 22% of hazards identified by category are human factors, whereas 20% are because of technical problems. Intolerable risks stand at 42%, whereas the tolerable risks are at 36% according to risk classification results as per the ALARP model. Because the process of risk management is a long-term cycle, its importance should not be missed at any time. Research limitations/implications Because of design considerations of RLCs and the difference in generalized human behaviors for people of a given region, the results are limited to AA-LRT RLCs. This study opens a discourse for detailed evaluations, qualitative and quantitative analysis into the categorized identified hazards. There is also room for additional research into the performance of RLCs aimed at formulating standard necessary features that should be included on RLCs for proper risk control especially in emerging economies. Originality/value The research paper is original and has not been submitted for consideration to other journals.

Risk analysis of engineering systems for sustainable industrial development using the Taguchi approach

2019 ◽  
Vol 26 (4) ◽  
pp. 611-624
Author(s):  
Ikuobase Emovon ◽  
Rosemary Norman
Keyword(s):  
Risk Analysis ◽  
Taguchi Method ◽  
Industrial Development ◽  
Fuel Oil ◽  
Risk Level ◽  
Engineering System ◽  
Engineering Systems ◽  
Maintenance Policy ◽  
Content Type ◽  
Computationally Intensive

Purpose One of the key elements of a maintenance system is risk analysis because the risk level of an engineering system will determine the maintenance policy required. Failure Mode and Effect Analysis (FMEA) is widely applied in evaluating risk of failure of engineering systems. However, the conventional FMEA used in analyzing risk by most industries has shortcomings such as an inability to utilize imprecise and interval data in prioritizing risk. To overcome these limitations, different variants of FMEA have been reported in the literature. However, these modified approaches are computationally intensive; hence, the purpose of this paper is to develop an efficient FMEA-based methodology that is easy to analyze and implement. Design/methodology/approach The proposed technique combines the Taguchi method with FMEA in order to analyze risk of engineering systems easily and effectively. The effectiveness of the approach is demonstrated with a case study of the fuel oil system of a marine diesel engine. Findings The results of the integrated Taguchi method and FMEA, when compared with well-known techniques, namely, VIKOR and compromise programming, from the literature are very similar. From the comparative analysis, it was evident that the proposed method is a viable option to the more computationally intensive approaches used in the literature. Originality/value The approach proposed is novel and simple and can be implemented more easily than approaches from the literature in analyzing risk.

Scenario based evaluation of a cost risk model through sensitivity analysis

2015 ◽  
Vol 22 (4) ◽  
pp. 403-423 ◽  
Author(s):  
Önder Ökmen ◽  
Ahmet Öztaş
Keyword(s):  
Risk Factors ◽  
Risk Analysis ◽  
Risk Model ◽  
Practical Method ◽  
Cost Evaluation ◽  
Sensitivity Analyses ◽  
Analysis Model ◽  
Content Type ◽  
Detailed Evaluation ◽  
Cost Risk

Purpose – Actual costs frequently deviate from the estimated costs in either favorable or adverse direction in construction projects. Conventional cost evaluation methods do not take the uncertainty and correlation effects into account. In this regard, a simulation-based cost risk analysis model, the Correlated Cost Risk Analysis Model, previously has been proposed to evaluate the uncertainty effect on construction costs in case of correlated costs and correlated risk-factors. The purpose of this paper is to introduce the detailed evaluation of the Cost Risk Analysis Model through scenario and sensitivity analyses. Design/methodology/approach – The evaluation process consists of three scenarios with three sensitivity analyses in each and 28 simulations in total. During applications, the model’s important parameter called the mean proportion coefficient is modified and the user-dependent variables like the risk-factor influence degrees are changed to observe the response of the model to these modifications and to examine the indirect, two-sided and qualitative correlation capturing algorithm of the model. Monte Carlo Simulation is also applied on the same data to compare the results. Findings – The findings have shown that the Correlated Cost Risk Analysis Model is capable of capturing the correlation between the costs and between the risk-factors, and operates in accordance with the theoretical expectancies. Originality/value – Correlated Cost Risk Analysis Model can be preferred as a reliable and practical method by the professionals of the construction sector thanks to its detailed evaluation introduced in this paper.

A Common Approach to Risk Analysis Methodology

2003 ◽  
Author(s):  
J. Robert Sims
Keyword(s):  
Resource Allocation ◽  
Risk Analysis ◽  
Broad Spectrum ◽  
Analysis Methodology ◽  
Risk Ranking ◽  
Homeland Defense ◽  
Narrow Area ◽  
Allocation Decisions ◽  
Resource Allocation Decisions

Risk analysis has been used extensively to inform decisions throughout government and industry for many years. Many methodologies have been developed to perform these analyses, resulting in differences in terminology and approach that make it difficult to compare the results of an analysis in one field to that in another. In particular, many approaches result only in a risk ranking within a narrow area or field of interest, so the results cannot be compared to rankings in other areas or fields. However, dealing with terrorist threats requires prioritizing the allocation of homeland defense resources across a broad spectrum of possible targets. Therefore, a common approach is needed to allow comparison of risks. This presentation summarizes an approach that will allow the results of risk analyses based on using current methodologies to be expressed in a common format with common terminology to facilitate resource allocation decisions.

Structuring and financing private equity and venture capital transactions in Luxembourg

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bertrand Géradin
Keyword(s):  
Venture Capital ◽  
Design Methodology ◽  
Private Equity ◽  
Corporate Law ◽  
Efficient Manner ◽  
Equity Investment ◽  
Content Type ◽  
Key Issues ◽  
Practical Implications ◽  
Optimum Balance

Purpose Luxembourg is the jurisdiction of choice for many private equity and venture capital investors/funds. Though the optimum balance of financing instruments in relation to any structure varies according to its particular circumstances, one factor that all Luxembourg domiciled FDI structures have in common is the requirement for an appropriate level of equity investment. This article intends to summarize some of the topics frequently encountered in relation to equity structuring choices. Design/methodology/approach Author details the different steps and choices available to investors and funds. The article offers answers to questions to provide a broad, yet detailed, overview of the process and journey; from selecting the vehicle right through to distributing to investors, governance, and compliance. Findings To avoid an expensive mistake, it is paramount that the private equity or venture capital investors and management team receive detailed advice to ensure: (i) the deal is structured in the most tax efficient manner possible and the commercial deal is suitable for all parties, and (ii) the deal is structured in a manner which is effective under Luxembourg law, for both tax and legal purposes. Practical implications It is important that non-Luxembourg lawyers are able to identify key issues when negotiating the terms of the investment documents, in particular, the articles of association and shareholders' agreement. Originality/value Practical guidance from Luxembourg lawyer specializing in corporate law, mergers and acquisitions, venture capital and private equity transactions.

scholarly journals Adjustment of Maintenance Approach for Improved Operability and Safety of Ship Navigation

2012 ◽  
Vol 22 (2) ◽  
pp. 95-103
Author(s):  
Ante Bukša ◽  
Ivica Šegulja ◽  
Vinko Tomas
Keyword(s):  
Risk Analysis ◽  
Lower Risk ◽  
Risk Index ◽  
Exhaust Valve ◽  
Maintenance Policy ◽  
Proposed Model ◽  
Risk Criterion ◽  
Ship Navigation ◽  
Definition Of ◽  
Navigation Safety

By adjusting the maintenance approach towards the significant components of ship’s engines and equipment, through the use of operational data from the ship machinery’s daily reports, higher operability and navigation safety can be achieved. The proposed maintenance adjustment model consists of an operation data analysis and risk analysis. The risk analysis comprises the definition of the upper and the lower risk criterion, as well as the definition of a risk index. If the risk index is higher than the lower risk criterion, the component is significant, while it is not significant and has an acceptable risk index if the risk index is lower than the lower risk criterion. For each significant component with a risk index found to be “unacceptable” or “undesirable”, an efficient maintenance policy needs to be adopted. The assessment of the proposed model is based on data regarding the power engine original operation throughout a 13-year period. The results of engine failure examinations reveal that the exhaust valve is the most vulnerable component with the highest rate of failure. For this reason the proposed model of adjusting the maintenance approach has been tested on the exhaust valve sample. It is suggested that the efforts to achieve higher ship operability and navigation safety should go in the direction of periodical adjustments of the maintenance approach i.e. choosing an efficient maintenance policy by reducing the risk indices of the significant engine components. KEY WORDS: maintenance adjustment approach, risk analysis, risk index, lower risk criterion, upper risk criterion, significant components, ship navigation

The role of maintenance in improving company's competitiveness and profitability

2014 ◽  
Vol 25 (4) ◽  
pp. 441-456 ◽  
Author(s):  
Damjan Maletič ◽  
Matjaž Maletič ◽  
Basim Al-Najjar ◽  
Boštjan Gomišček
Keyword(s):  
Gap Analysis ◽  
Research Problem ◽  
Maintenance Policy ◽  
Content Type ◽  
Potential Benefits ◽  
Points Of View ◽  
Potential Improvement ◽  
Practical Implications

Purpose – The purpose of this paper is to examine the role of maintenance in improving company's competitiveness and profitability. In the first part the paper aims to discuss the potential improvement areas from the company perspective. Second part of this paper examines maintenance impact on company's business. Design/methodology/approach – An empirical case study was utilized aiming to provide an understanding of the role of maintenance in improving company's business. The empirical data for this study were collected from a Slovenian textile company. A gap analysis was used in order to address the research problem and to identify potential improvement areas. Findings – Based on the gap analysis, the results suggest that from respondents’ points of view, maintenance practices related to condition-based maintenance approach represent the highest opportunity for improvement. The most notable empirical results of the case study showed that around 3 per cent of additional profit could be generated at weaving machine, especially if all unplanned stoppages and loss of quality due to decrease in the productivity would be prevented. Practical implications – This paper demonstrates to managers the potential benefits of maintenance policy in terms of productivity, quality and profitability. In this regard, this paper builds on a premise that company can gain higher performance benefits using more effective maintenance policy. Originality/value – The proposed conceptual model contributes to the existing literature by showing the interactions between maintenance and company's competitiveness and profitability. Empirical findings of this study therefore, acknowledge maintenance's potential of increasing the overall profit. In addition this study advances prior studies by utilizing a gap analysis which is rare in this type of research.

Risk analysis of construction of administration projects using Bayesian networks

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohammad Osama ◽  
Aly Sherif ◽  
Mohamed Badawy
Keyword(s):  
Risk Factors ◽  
Life Cycle ◽  
Risk Analysis ◽  
Construction Industry ◽  
Construction Projects ◽  
Causal Relationships ◽  
Content Type ◽  
Project Life Cycle ◽  
Project Objectives ◽  
Project Life

Purpose This paper aims to enlighten the importance of the risk management process which is considered as a major procedure to effectively handle the potential inherent risks in the construction industry. However, most traditional risk analysis techniques are based on theories that deal with each risk factor as an independent, which does not take into consideration the causal relationships between risk factors. Design/methodology/approach This study aspires to identify the overall risk of the administrative construction projects in Egypt and to recognize the most influencing risk factors through the project life cycle by using Bayesian belief networks (BBN). Through a review of the literature, 27 risk factors were identified and categorized as the most common risk factors in the construction industry. A structured questionnaire was performed to estimate the probability and severity of these risks. Through site visits and interviews with experts in the construction field, 200 valid questionnaires were collected. A risk analysis model was developed using BBNs, then the applicability of this model was verified using a case study in Egypt. Findings However, the outcome showed that critical risks that manipulate administrative construction projects in Egypt were corruption and bribery, contractor financial difficulties, force majeure, damage to the structure and defective material installation. Practical implications The proposed study presents the possibilities available to the project parties to obtain a better forecast of the project objectives, including the project duration, total project cost and the target quality by examining the causal relationships between project risks and project objectives. Originality/value This study aspires to identify the overall risk of the administrative construction projects in Egypt and to recognize the most influencing risk factors through the project life cycle by using BBNs.

Condition-based opportunistic maintenance policy for a series–parallel hybrid system with economic dependence

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Aiping Jiang ◽  
Zhenni Huang ◽  
Jiahui Xu ◽  
Xuemin Xu
Keyword(s):  
Hybrid Systems ◽  
Hybrid System ◽  
Maintenance Policy ◽  
Economic Dependence ◽  
Opportunistic Maintenance ◽  
Content Type ◽  
Cost Rate ◽  
Parallel Hybrid ◽  
In Series ◽  
Redundant Structure

PurposeThe purpose of this paper is to propose a condition-based opportunistic maintenance policy considering economic dependence for a series–parallel hybrid system with a K-out-of-N redundant structure, where a single component in series is denoted as subsystem1, and K-out-of-N redundant structure is denoted as subsystem2.Design/methodology/approachBased on the theory of Residual Useful Life (RUL), inspection points are determined, and then different maintenance actions are adopted in the purpose of minimizing the cost rate. Both perfect and imperfect maintenance actions are carried out for subsystem1. More significantly, regarding economic dependence, condition-based opportunistic maintenance is designed for the series–parallel hybrid system: preemptive maintenance for subsystem1, and both preemptive and postponed maintenance for subsystem2.FindingsThe sensitivity analysis indicates that the proposed policy outperforms two classical maintenance policies, incurring the lowest total cost rate under the context of both heterogeneous and quasi-homogeneous K-out-of-N subsystems.Practical implicationsThis model can be applied in series–parallel systems with redundant structures that are widely used in power transmission systems in electric power plants, manufacturing systems in textile factories and sewerage systems. Considering inconvenience and high cost incurred in the inspection of hybrid systems, this model helps production managers better maintain these systems.Originality/valueIn maintenance literature, much attention has been received in repairing strategies on hybrid systems with economic dependence considering preemptive maintenance. Limited work has considered postponed maintenance. However, this paper uses both condition-based preemptive and postponed maintenance on the issue of economic dependence bringing opportunities for grouping maintenance activities for a series–parallel hybrid system.

A Hybrid MCDM Approach-Based Framework for Operational Sustainability of Process Industry

2019 ◽  
pp. 1-13 ◽  
Author(s):  
Dilbagh Panchal ◽  
Prasenjit Chatterjee ◽  
Morteza Yazdani ◽  
Shankar Chakraborty
Keyword(s):  
Decision Making ◽  
Thermal Power ◽  
Fuzzy Rule ◽  
Process Industry ◽  
Maintenance Policy ◽  
Effect Analysis ◽  
Effective Decision ◽  
Relation Analysis ◽  
Effective Decision Making ◽  
Grey Relation

The aim of this chapter is to develop a hybrid decision-making framework for studying the risk issues related to failure of an industrial system. On the basis of plant expert's knowledge, failure mode effect analysis (FMEA) sheet has been generated and various failure causes associated with the sub-systems were listed. On the basis of three risk factors, namely probability of occurrence of failure, severity and non-detection (, and ), Risk Priority Numbers (RPN) for each failure cause has been tabulated. The demerits of FMEA approach in prioritizing the failure causes has been overcome by implementing fuzzy rule-based tool. The consistency and heftiness of the ranking results have been tested by implementing grey relation analysis (GRA) approach. Comparison of ranking results has been done for effective decision making of ranking results. The accuracy of decision results would be highly useful in developing a planned maintenance policy for the plant. The proposed framework has been tested with its application on a cooling tower system of a thermal power plant located in the northern part of India.

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