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Engineering Risk Management pdf

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Added on  2021-06-16

Engineering Risk Management pdf

   Added on 2021-06-16

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Running head: ENGINEERING RISK MANAGEMENT 1Engineering Risk ManagementStudent NameInstitution
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ENGINEERING RISK MANAGEMENT 2Table of ContentsIntroduction.................................................................................................................................................31.RISK MANAGEMENT......................................................................................................................31.2 Identification and analysis of risk......................................................................................................31.2.1 Issues in with significant impact on explosion............................................................................31.2.2 The identified risk at the Tianjin explosion.................................................................................41.3 Risk analysis......................................................................................................................................51.3.1 The financial risk analysis..........................................................................................................51.3.2 Environmental analysis of risk....................................................................................................51.3.3.Legal analysis of the risk............................................................................................................61.3.4 Human resources........................................................................................................................62.RISK ASSESSMENT..........................................................................................................................62.1 Usefulness of risk assessment............................................................................................................62.2 Applicability of the risk assessment...................................................................................................72.3 Limitations of risk assessment in decision making............................................................................72.4 Risk perception..................................................................................................................................83.RISK MITIGATION PLANS..............................................................................................................83.1 Proposed Risk management strategies for Tianjin explosion.............................................................94.RISK COMMUNICATION..............................................................................................................114.1 Risk communication phase..............................................................................................................124.2 Phases of risk communication plan..................................................................................................124.3 Components of risk communication plan.........................................................................................13Conclusion.................................................................................................................................................14Reference...................................................................................................................................................15
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ENGINEERING RISK MANAGEMENT 3IntroductionEngineering risk stands as an important business management risk owing to themagnitude of the risk. Engineering risk results from various engineering operations orengineering products. This can also be described based on the area of risk and the potentialfactors of the risk occurring within the organization. An example of engineering risk thatoccurred was Tianjin explosion that occurred in 2015 killing a number of people, massive injury,and destruction of property. The accident resulted from fire explosion caused by chemicalswithin the containers handled with the warehouse at the Tianjin port. Such accidents require riskmanagement strategy that includes risk identification, characterization and risk managementstrategies. In addition, the risk assessment is an important risk management procedure that isuseful for the decision-making process in an organization. The risk communication is anotherrisk management component that involves communicating the risk preparedness, responsestrategy and risk recovery. The following report explores the engineering risk managementcomponents with reference to Tianjin accident case study.1.RISK MANAGEMENT Risk management entails a various process that can be used to identify, characterize,analyze and manage the risk. Risk management works to identify and analyze the risk of theaccident that occurred at Tianjin, China in 2015.1.2 Identification and analysis of risk1.2.1 Issues in with significant impact on explosionThere are some key issues that are important in identification of the risk that lead to theexplosion. Identification of risk is the first step in risk management process and include continue
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ENGINEERING RISK MANAGEMENT 4risk identification within and outside the business as an effort to manage to reduce the likelihoodof the risk occurring within an organization. Some of the issues that can be observed on theaccident and gives the general nature of the engineering risk at the time of accident (Leveson,2011). Firstly, the root cause of the risk is one of the identification steps that have impact on theexplosion forms the basis of the risk management. For instance, the case of explosion, the rootcause of the explosion can be viewed as laxity on inspection. Other causal factors for the riskmay have been on the flammability of the chemicals that were involved in the explosion.Chemicals such as calcium carbide, potassium nitrate and ammonium nitrate are very reactiveand easily catch fire. Moreover, the capability of the facility to handle these chemicals may havebeen comprised at the time of the risk. Secondly, risk characterization is another aspect of riskmanagement that focuses on risk classification and analysis to bring a better understanding of therisk. At the time of the accident fires was the main observable injury factor that killed manypeople and destroyed property. Lastly, risk planning is another aspect of risk where planning forthe risk assessment, response and risk recovery. The company shows limited planning andpreparedness as response team was among those casualties (Chapman & Ward, 2008).1.2.2 The identified risk The Tianjin explosionAccording to various analysis there are some identified risk factor that can be deducefrom the accident. Firstly, according to Huang and Zhang (2015),lax inspection leading to highamount of chemicals that was specified by the operation license is one cause of the accident. Thehigh amount of chemical was evidenced by the magnitude of the explosion that was witnessedduring the accident. Secondly, limited monitoring of the facility than expected was another factorthat contributed to the accident that occurred at the Tianjin, China. The monitory of the facility
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ENGINEERING RISK MANAGEMENT 5would have resulted in identification of potential risk especially given that the explosivechemicals were highly flammable and require monitoring of fire sources (Rostami,2016).Thirdly, lack of preparedness within the warehouse was another aspect of the casual factor thatleads to the explosion at Tianjin, China. It was reported that among the causalities of theexplosion were the firefighters showing that there was no preparedness for the disaster (Ma,2011). Figure 1: Tianjin explosionsKaohsiung gas explosionThe second accident involved petrochemical company and a number of factors can bededuced form the explosion. The contributing factor was cited as the gas leak that was reportedprevious night before the explosion. It can be understood that the explosion resulted frominability of the company and emergency response team to contain the situation after reporting
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ENGINEERING RISK MANAGEMENT 6leak of the petrochemicals. The accident resulted in the death of 33 people with more than 300people injured (Huang,Hsiao& Chen,2014).Figure 2: Kaohsiung gas explosionsWest Fertilizer Company explosionWest Fertilizer Company in Texas is another accident that occurred in 2013 followingexplosion of ammonium nitrate. The fertilizer company explosion resulted in a number of deathand injuries leading to high loses for the country. In addition, the company was reported to havestored many fertilizer chemicals (ammonium nitrate) in a more risk environment triggeringexplosion (Texas Commission on Environmental Quality, 2013).
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