The safety case and the lessons learned for the reliability and maintainability case

This paper examine the safety case and the lessons learned for the reliability and maintainability case

Assessing the reliability of adaptive power system protection schemes

Adaptive power system protection can be used to improve the performance of existing protection schemes under certain network conditions. However, their deployment in the field is impeded by their perceived inferior reliability compared to existing protection arrangements. Moreover, their validation can be problematic due to the perceived high likelihood of the occurrence of failure modes or incorrect setting selection with variable network conditions. Reliability (including risk assessment) is one of the decisive measures that can be used in the process of verifying adaptive protection scheme performance. This paper proposes a generic methodology for assessing the reliability of adaptive protection. The method involves the identification of initiating events and scenarios that lead to protection failures and quantification of the probability of the occurrence of each failure. A numerical example of the methodology for an adaptive distance protection scheme is provided

Consumer finance: challenges for operational research

Consumer finance has become one of the most important areas of banking, both because of the amount of money being lent and the impact of such credit on global economy and the realisation that the credit crunch of 2008 was partly due to incorrect modelling of the risks in such lending. This paper reviews the development of credit scoring—the way of assessing risk in consumer finance—and what is meant by a credit score. It then outlines 10 challenges for Operational Research to support modelling in consumer finance. Some of these involve developing more robust risk assessment systems, whereas others are to expand the use of such modelling to deal with the current objectives of lenders and the new decisions they have to make in consumer finance. <br/

Operations research in consumer finance: challenges for operational research

Consumer finance has become one of the most important areas of banking both because of the amount of money being lent and the impact of such credit on the global economy and the realisation that the credit crunch of 2008 was partly due to incorrect modelling of the risks in such lending. This paper reviews the development of credit scoring,-the way of assessing risk in consumer finance- and what is meant by a credit score. It then outlines ten challenges for Operational Research to support modelling in consumer finance. Some of these are to developing more robust risk assessment systems while others are to expand the use of such modelling to deal with the current objectives of lenders and the new decisions they have to make in consumer financ

Risk based bridge data collection and asset management and the role of structural health monitoring

Peer reviewedPostprin

Bayesian belief network model for the safety assessment of nuclear computer-based systems

The formalism of Bayesian Belief Networks (BBNs) is being increasingly applied to probabilistic modelling and decision problems in a widening variety of fields. This method provides the advantages of a formal probabilistic model, presented in an easily assimilated visual form, together with the ready availability of efficient computational methods and tools for exploring model consequences. Here we formulate one BBN model of a part of the safety assessment task for computer and software based nuclear systems important to safety. Our model is developed from the perspective of an independent safety assessor who is presented with the task of evaluating evidence from disparate sources: the requirement specification and verification documentation of the system licensee and of the system manufacturer; the previous reputation of the various participants in the design process; knowledge of commercial pressures;information about tools and resources used; and many other sources. Based on these multiple sources of evidence, the independent assessor is ultimately obliged to make a decision as to whether or not the system should be licensed for operation within a particular nuclear plant environment. Our BBN model is a contribution towards a formal model of this decision problem. We restrict attention to a part of this problem: the safety analysis of the Computer System Specification documentation. As with other BBN applications we see this modelling activity as having several potential benefits. It employs a rigorous formalism as a focus for examination, discussion, and criticism of arguments about safety. It obliges the modeller to be very explicit about assumptions concerning probabilistic dependencies, correlations, and causal relationships. It allows sensitivity analyses to be carried out. Ultimately we envisage this BBN, or some later development of it, forming part of a larger model, which might well take the form of a larger BBN model, covering all sources of evidence about pre-operational life-cycle stages. This could provide an integrated model of all aspects of the task of the independent assessor, leading up to the final judgement about system safety in a particular context. We expect to offer some results of this further work later in the DeVa project

Overview of Remaining Useful Life prediction techniques in Through-life Engineering Services

Through-life Engineering Services (TES) are essential in the manufacture and servicing of complex engineering products. TES improves support services by providing prognosis of run-to-failure and time-to-failure on-demand data for better decision making. The concept of Remaining Useful Life (RUL) is utilised to predict life-span of components (of a service system) with the purpose of minimising catastrophic failure events in both manufacturing and service sectors. The purpose of this paper is to identify failure mechanisms and emphasise the failure events prediction approaches that can effectively reduce uncertainties. It will demonstrate the classification of techniques used in RUL prediction for optimisation of products’ future use based on current products in-service with regards to predictability, availability and reliability. It presents a mapping of degradation mechanisms against techniques for knowledge acquisition with the objective of presenting to designers and manufacturers ways to improve the life-span of components