This paper starts with description of the widely used risk assessment tool Failure Modes & Effects Analysis. The paper then later examines some of the alternative methods for risk assessment and their advantages. In this work, we also point out the advantages of using Six Sigma in Risk Assessment and propose a novel technique which would overcome the restrictions of existing Risk Management tools.

Purpose: of the current research is to develop a reliability assessment method with an extension of the existing ones and pooling them to a common framework. The system must identify the most unreliable parts of a production process and suggest the most efficient ways for the reliability improvement. Design/methodology/approach: FMEA is in the centre of the proposed framework,a reliability anal...

This paper estimates the effects of incumbent spending and challenger spending in U.S. House elections in the 1970s and 1980s. The paper employs FIML simultaneous equations analysis involving instrumental variables as vote predictors, and zero-covariance restrictions for the vote-spending disturbances. This procedure allows the estimation of spending effects given plausible assumptions about th...

M. Roszak, M. Spilka, A. Kania, Silesian University of Technology, Institute of Engineering Materials and Biomaterials, Gliwice, Poland The purpose of this paper is to present a concept of FMEA analysis for environmental aspects, together with a discussion of the importance, implementation and application of the proposed concept. The analyses and the developed E-FMEA methodology have resulted i...

Service companies must be able to face the challenge to offer error-free services to their customers. According to Service definition, the customer is always present during the processes and delivery of the service . If something goes wrong it will happen in the presence of the customer . This article shows the use of FMEA as a prevention tool in the services offered by a Medical Clinic restaur...

Neighbourhood Effects, Housing Tenure, and Individual Employment Outcomes This paper investigates whether individuals living in neighbourhoods with high concentrations of unemployment are less likely to enter work if they are unemployed and more likely to lose their job if they are employed. The main challenge in the neighbourhood effects literature is the identification of causal neighbourhood...

This paper illustrates how Chittaro’s methods of modelling functions and goals can be applied to a reliability procedure known as Failure Modes and Effects. The use of functional models links structure to purpose and the central theme of this paper is to show how the design objectives of a system can be linked to the structure using functional models as an intermediary. The models are demonstra...

After the 2008 Wall Street crash, it became clear to economists that financial systems, along with other social and economic systems, are not immune to being manipulated by small groups of players to their own advantage. Given this, two natural questions arise. For a particular policy design or proposed economic system, can such manipulation be foreseen in advance and possibly prevented? And ca...

Reliability Centered Maintenance(RCM) is one of most widely used methods in the modern power system to schedule a maintenance cycle and determine the priority of inspection. In order to apply the RCM method to the Smart Grid, a precedence study for the new structure of rearranged system should be performed due to introduction of additional installation such as renewable and sustainable energy r...