Risk Management Case study - IT Assignment Help

Assignment Task:

Objectives: 

• Demonstrate the significance of risk management to engineering practice and management. 
• Select and apply appropriate risk assessment techniques.
• Select and apply appropriate risk-based decision-making techniques.
• Apply a variety of risk treatment techniques.
• Implement and test solutions.
• Demonstrate research skills.
• Communicate effectively in ways appropriate to the discipline, audience, and purpose.
• Work as an effective member or leader of diverse teams within a multi-level, multi-disciplinary and multi-cultural setting.

Introduction: 

To have a thorough understanding of what constitutes engineering risk management and how theories, concepts, methods, etc. can be employed in industrial practice, this assignment provides the opportunity for students to put their knowledge into practice by implementing the risk analysis and risk-based decision-making methods in a case study. As it is vital for students to be able to communicate and present their results in their disciplines, the IEEE template which is used by many engineering journals and conferences is adopted for the sake of presentation.

Instructions: 

1. By now, you have selected one of the below topics and found your case study: 

• Domino effect risk analysis: Domino effects are referred to as a chain of accidents in which a primary accident starting in a unit spreads to adjacent units, causing secondary accidents the total consequence of which could be much more severe than the primary event. 
• Natechs risk assessment: Natechs are referred to as technological accidents such as the release of hazardous materials, fires or explosions in industrial plants which are triggered by natural disasters like earthquakes, floods, and hurricanes. Compared to normal technological accidents, which are a matter of random failures or human error, techs usually give rise to more catastrophic consequences since the likelihood of simultaneous damage to hazardous units and domino effects is much higher.

• Risk-based land use planning: Land use planning (LUP) as an effective and crucial safety measure has widely been employed by safety experts and decision-makers to mitigate off-site risks posed by major accidents. Accordingly, the concept of LUP in industrial plants has traditionally been considered from two perspectives:

(i) Land developments around existing industrial plants considering potential off-site risks posed by major accidents and

(ii) Development of existing industrial plants considering nearby land developments and the level of additional off-site risks the land developments would be exposed to. 

Cost-effective allocation of safety measures in industrial plants. 

Human error risk assessment in engineering systems. 

• Security risk analysis: This area involves estimating access and harm caused due to war, terrorism, riot, crime (vandalism, theft, etc.), and misappropriation of information (national security information, intellectual property, etc.). 
• Environmental risk analysis: This field involves estimating losses due to noise, contamination, and pollution in the ecosystem (water, land, air, and atmosphere) and in space (space debris). 

2. Research your topic by reading and analyzing at least 10 recent journal papers. 

3. Decide a good title for your paper considering your topic and case study. The title should accurately reflect the paper main idea and its content. 

4. Write a 200-words abstract including motivation for the study, objective(s), methods, and results and interpretation. 

5. Write a good introduction including contextualization, topic importance, case study introduction, paper objective(s), problem-solving approach, and finally the paper structure. 

6. Review the literature including problem background and related works, more recent references would be better. The main keyword definitions should be presented here. You may have some subsections to organize this section very well. 

7. Develop a research methodology to assess and reduce risks. You need to incorporate at least two techniques in the research methodology from the literature. Do not limit yourselves to the subject materials. The methodology should be logical and robust to support the discussion. 

8. Implement the research methodology in the case study step by step and present the technique results. Analyze the results and highlight major findings. Tables and figures should be represented in high quality with adequate explanation. 

9. Discuss the results and do a sensitivity analysis to make sure the results are reliable. Propose some risk reduction strategies and show unacceptable risks are managed. Limitations of the work must be listed as well.

10. Write a conclusion of what has been done for what purpose, what are the findings, and propose some future research directions. 

11. All content must be written without any grammatical error in the IEEE template which is available on UTSOnline and should be fully referenced. Include references at the end of the paper consistently aligned with the IEEE style. You can download Endnote from the UTS library for bibliography management. 

12. Therefore, the paper follows below structure: 

• Abstract 
• Introduction 
• Theoretical background (literature review) 
• Research methodology 
• Implementation and results (case study) 
• Discussion 
• Conclusion and future works 
• References 

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