Risk Analysis

Using a number of parameters of an FMECA system, you can generate a risk analysis.

Risks can be calculated and assessed via the details specified in the FMECA Systems window. In Asset Strategy Optimization, the risk is expressed in the risk number. This number is the product of the weighting factors of the MTTF and the class of an effect. Optionally, you can also include the weighting factor of the maintenance time. If the risk exceeds a pre-set limit value (the "risk limit"), the part concerned is considered to be critical. Calculating risk numbers is done automatically by Asset Strategy Optimization.

Risk Number

In Asset Strategy Optimization, the Risk Number is calculated on the basis of "Risk = Probability * Effect". A number of parameters in Asset Strategy Optimization yield the variables required to process these calculations. The "Risk Number" section describes how and using which parameters the risk number is calculated

Risk Matrix

The results of this calculation are visualized in the Risk Matrix. The risk matrix displays the risks for each business objective. For the risk analysis, you can retrieve various reports. These are explained in the View the risk analysis report section.

FMECA Grid

The FMECA Grid is populated with the Failure Modes, each with their particular effects on the business objectives.