Risk Analysis Report Setup A New Assembly Line For Automotive Production

Risk Analysis Report
Setup A New
Assembly Line For
Automotive
Production
Supervised By:
Dr. Attia Gomaa
Presented by G1:
1 . Amr Eid Abdelhady

2 . Ahmed Emad
3 . Mohamed Hamdy El habashy
4 . Ahmed Khashab
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Risk analysis
Introduction:
Risk is made up of two parts: the probability of something going wrong, and the negative
consequences if it does.
Risk can be hard to spot, however, let alone prepare for and manage. And, if you're hit by a
consequence that you hadn't planned for, costs, time, and reputations could be on the line. This
makes Risk Analysis an essential tool when your work involves risk. It can help you identify and
understand the risks that you could face in your role. In turn, this helps you manage these risks,
and minimize their impact on your plans.
Risk analysis is the process of defining and analyzing the dangers to individuals, businesses
and government agencies posed by potential natural and human-caused adverse events. In
IT, a risk analysis report can be used to align technology-related objectives with a
company's business objectives. A risk analysis report can be either quantitative or
qualitative.
In quantitative risk analysis, an attempt is made to numerically determine the probabilities
of various adverse events and the likely extent of the losses if a particular event takes place.
Qualitative risk analysis, which is used more often, does not involve numerical probabilities or
predictions of loss. Instead, the qualitative method involves defining the various threats,
determining the extent of vulnerabilities and devising countermeasures should an attack occur.
When to Use Risk Analysis?

Risk analysis is useful in many situations:
When you're planning projects, to help you anticipate and neutralize possible problems.
When you're deciding whether or not to move forward with a project.
When you're improving safety and managing potential risks in the workplace.
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When you're preparing for events such as equipment or technology failure, theft, staff
sickness, or natural disasters.
When you're planning for changes in your environment, such as new competitors coming
into the market, or changes to government policy.
How to Use Risk Analysis

# Area Risk Action to minimize risk
1 Safety Unsafe Conditions Improve safety conditions
2 Cost Unstable Material Cost Improve material variance
3 Schedule Schedule variance Improve cost variance
4 Scope of work Scope changes Forecasting the possible changes
5 Quality Rework Minimize defects and rework
6 Equipment Breakdown Preventive maintenance for all

equipment's
7 Technician Lacked skilled technician Pick up suitable technician for the scope of
work
8 Cutting & Welding Waste of materials and Remove leaks , Cleaning and drying of the welding
welding defects area, i.e.. Preheating. Make sure that the base
material is at room temperature before welding
and use a standard templates for cutting
9 Install the steel sections Late Product Launches on Check the quality of each part assembling in the
New Assembly Lines project
10 Painting the steel Over-thinning the paint or It may be possible to correct cracking that does not
sections spreading it too thin. Poor go down to the substrate by removing the loose or
surface preparation, flaking paint with a scraper or wire brush, sanding
especially when the paint is to feather the edges, priming any bare spots and
applied to bare wood repainting.
without priming.
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11 Electric Plugs & Sockets Production defects and Use high quality as it quit suitable for the car
quality control problems activity
12 Setup Programs for Poor variable naming

coding
2. Estimate Risk
Once you've identified the threats you're facing, you need to calculate out both
the likelihood of these threats being realized, and their possible impact.
This gives you a value for the risk:
Risk Value = Probability of risk x Cost of project
= 0.3 x 28740=8,662 $
How to Manage Risk

identified the value of the risks you face, you can start to look at ways of
managing them.
Tip:
Look for cost-effective approaches – it's rarely sensible to spend more on
eliminating a risk than the cost of the event if it occurs. It may be better to
accept the risk than it is to use excessive resources to eliminate it.
Be sensible in how you apply this, though, especially if ethics or personal
safety are in question.
Avoid the Risk
want to avoid the risk altogether. This could mean not getting involved in a
business venture, passing on a project, or skipping a high-risk activity. This is
a good option when taking the risk involves no advantage to your
organization, or when the cost of addressing the effects is not worthwhile.
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Remember that when you avoid a potential risk entirely, you might miss out on
an opportunity. Conduct a "What If?" Analysis to explore your options when
making your decision.
Share the Risk

You could also opt to share the risk – and the potential gain – with other
people, teams, organizations, or third parties.
For instance, you share risk when you insure your office building and your
inventory with a third-party insurance company, or when you partner with
another organization in a joint product development initiative.
Accept the Risk

Your last option is to accept the risk. This option is usually best when there's
nothing you can do to prevent or mitigate a risk, when the potential loss is less
than the cost of insuring against the risk, or when the potential gain is worth
accepting the risk.
For example, you might accept the risk of a project launching late if the
potential sales will still cover your costs.
Before you decide to accept a risk, conduct an Impact Analysis to see the full
consequences of the risk. You may not be able to do anything about the risk
itself, but you can likely come up with acontingency plan to cope with its
consequences.
Control the Risk

choose to accept the risk, there are a number of ways in which can reduce its
impact.
Business Experiments are an effective way to reduce risk. They involve rolling
out the high-risk activity but on a small scale, and in a controlled way. You can
use experiments to observe where problems occur, and to find ways to
introduce preventative and detective actions before you introduce the activity
on a larger scale.
Preventative action involves aiming to prevent a high-risk situation from happening.
It includes health and safety training, firewall protection on corporate servers, and
cross-training your team.
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Detective action involves identifying the points in a process where something could
go wrong, and then putting steps in place to fix the problems promptly if they occur.
Detective actions include double-checking finance reports, conducting safety testing
before a product is released, or installing sensors to detect product defects.
Plan-Do-Check-Act is a similar method of controlling the impact of a risky
situation. Like a Business Experiment, it involves testing possible ways to
reduce a risk. The tool's four phases guide you through an analysis of the
situation, creating and testing a solution, checking how well this worked, and
implementing the solution.

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What are the different types of risk analysis?

What are the different types of risk analysis?

What are some common situations where risk analysis is useful?

What are some common situations where risk analysis is useful?

Risk Analysis Report

Dr. Attia Gomaa

1 . Amr Eid Abdelhady

When to Use Risk Analysis?

How to Use Risk Analysis

1 Safety Unsafe Conditions Improve safety conditions

2 Cost Unstable Material Cost Improve material variance

3 Schedule Schedule variance Improve cost variance

4 Scope of work Scope changes Forecasting the possible changes

5 Quality Rework Minimize defects and rework

6 Equipment Breakdown Preventive maintenance for all

12 Setup Programs for Poor variable naming

How to Manage Risk

Share the Risk

Accept the Risk

Control the Risk

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