Best Practices in Maintainability- Session 2: Fundamentals of Risk: Applications to Industry and Public Infrastructure

John Solomon
JD Solomon is a Vice President with CH2M. As a senior consultant to both industry and public agencies, he uses his training and years of experience in risk, reliability, and decision analysis to assist clients with strategic planning, asset management, O&M optimization, and financial management. He is a Certified Reliability Engineer (CRE), Certified Maintenance and Reliability Professional ...read more



Details

This is the second session of the series "Best Practices in Maintainability: Practical Meaning and Applications of Reliability, Risk, and Redundancy". This three–part series will be presented from the primary perspective of maintenance and maintainability. It will be provided by a dually certified CRE and CMRP with many years of experience in both the design and maintenance sectors. The webinars should be of interest to reliability professionals who practice primarily in product development and design and who wish to have a better understanding of the more practical aspects of reliability, risk, and redundancy in maintaining and restoring systems and equipment. The webinars should be of equal interest to reliability professional who practice in maintenance but may be relatively new in understanding how the overarching concepts apply. The subject matter is aimed at an intermediate level. Session 2. Fundamentals of Risk: Applications to Industry and Public Infrastructure The session will provide an overview of the fundamentals of risk and its application to industrial facilities/systems and public infrastructure. Foundational definitions will be provided as well as an understanding of the relationships of such topics as risk & uncertainty and risk & reliability. An overview of risk management will be provided that includes the general components of a risk management framework, including elements of risk assessment (identification, analysis, and evaluation), risk treatment, communication, and monitoring. The session will also provide an overview of some of the key tools for risk identification and analysis related to maintenance applications and related best practices. Insights will also be provided into the strengths, pitfalls, and challenges associated with both quantitative and non-quantitative risk approaches, including the classic risk equation based on the consequences and likelihood of failure.

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