Manage Risks in a Scenario

About Risks in a Scenario

In Asset Strategy Optimization, a Risk identifies one way in which an Asset can fail. If the Risk occurs, the piece of equipment or location will fail, and the system cannot run. In Asset Strategy Optimization Analyses, Risks are stored in System Risks, which can be linked to System Assets and System Switches.

After you create an Action in Asset Strategy Optimization, you can assign a single Risk or multiple Risks to that Action. When you assign a Risk to an Action, a link is created between a System Risk Assessment record, which stores the GUID of the mitigated Risk in the Risk GUID field, and the Action. This allows the Action to mitigate the Risk. An Action may mitigate a Risk by changing certain properties, such as failure consequences or the failure distribution, of the Risk.

Add Risks

About This Task

Important: This procedure does not work in an Active scenario.

Procedure

  1. Access ASO.
  2. In the pane, select a scenario.
  3. In the scenario workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  4. In the Risks workspace, select .
    The New Risk grid appears.
    Note: You need to be in the node level of the analysis for the to activate.
  5. As needed, enter values in the available fields.
  6. Select .
    A message appears, confirming that the risk is saved.
    Note: In the Proposed scenario, a will appear in the Status column to indicate that the risk has been added.

Filter Risks

Procedure

  1. Access ASO.
  2. In the scenario, and then, in the appropriate workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.

  3. Select .
    In the grid, filter boxes appear.
  4. In the filter box for any column, enter the information that you want to filter.
    Your results appear.

Show Mitigated Actions in a Risk

Procedure

  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the risk whose mitigating action you want to show.
    The risk is highlighted.

  4. Select Show Mitigated Action.
    The Mitigated Actions appear.

What To Do Next

Assign a New Action to a Risk

About This Task

Important: This procedure does not work in an Active scenario.

Procedure

  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.

  3. Select the risk where you would like to assign a new action.
    The risk is highlighted.

  4. Select Show Mitigated Action.
    The mitigated actions appear.
  5. Select Assign New Action,
    The Assign New Action grid appear.
  6. As needed, enter values in the available fields.
  7. Select .
    The new action is saved.

Assign an Existing Action to a Risk

About This Task

Important: This procedure does not work in an Active scenario.

Procedure

  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available actions.


  3. Select the risk to which you would like to assign an existing action.
    The risk is highlighted.

  4. Select Show Mitigating Action.
    The mitigating actions appear.
  5. Select Assign Existing Actions.
    The Assign Existing Actions grid appears.
  6. Select the check box to the right of each risk that you want to add.
  7. Select Submit.
    The existing actions are added.

Undo a Risk

About This Task

Important: This procedure does not work in an Active scenario.

Procedure

  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.

  3. Select the risk that you would like to undo.
    The risk is highlighted.
  4. Select .
    Your risk has been returned to its previous state.

Modify Risk Properties

About This Task

Important: This procedure does not work in an Active scenario.

Procedure

  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available actions.


  3. In the Properties pane, select and the modify the properties as needed.
    Note: In the Proposed scenario, a will appear in the Status column to indicate that the risk has been edited.
  4. Select .
    Your changes have been saved.

Delete Risks

About This Task

Important: This procedure does not work in an Active scenario.

Procedure

  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the risk you want to delete.
    The risk is highlighted.
  4. Select .
    Note: If the node is not selected on the correct level, the button will not activate.

    A message appears, asking if you want to delete the risk.

  5. Select Yes.
    A message appears, confirming that the risk is deleted.
    Note: In the Proposed scenario, a will appear in the Status column to indicate that the risk has been deleted.

Manage Distribution Data for Risks

Reliability Distribution data (Time to Failure and Time to Repair) is associated with Risks. You have two options for defining distribution data for Risks. You can either enter distribution data manually, or associate distribution data from existing Reliability Distribution Analyses and Reliability Growth Analyses.

Define TTF and TTR Distribution Data Manually

About This Task

Time to Failure (TTF) and Time to Repair (TTR) are determined from the distribution data for the associated System Risk record. The TTF and TTR datasheets enable you to define these distribution datasets for your analysis.

Important: This procedure does not work in an Active scenario.

Procedure

  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the Risk whose distribution you want to define.
  4. In the Risks section, in the grid, the row containing the Risk whose distribution data you want to define:
    • In the TTF Distribution column, select the link.

      -or-

    • In the TTR Distribution column, select the link.

    The TTR Distribution or TTR Distribution window appears, depending on which link you clicked.

  5. Select
  6. When done, select .
    A message appears, confirming that your new distribution data is saved.

Associate Existing Distribution Data with Risks

Before You Begin

  • As an alternative to entering distribution data manually for Risks, you can associate distribution data from existing Reliability Growth Analyses and Reliability Distribution Analyses. When you enter data manually, you can choose any values that you desire for your distribution data, but when you associate existing distribution data with Risks, you use data stored in actual Reliability Growth or Reliability Distribution Analyses.
  • After existing distribution data has been associated with a Risk, you can update the information periodically. When you associate the distribution data, the Entity Key and Family Key of the Reliability Distribution and Reliability Growth Analysis are stored in the System Risk record, thereby establishing a connection between the two records that allows for future updates. This way your ASO Analysis uses the most current information available to calculate the simulation results.
  • You will also need an active Reliability Analytics license to perform this procedure.
    Note: TTR and TTF Distributions can be defined for all scenarios. Also, you can associate Reliability analyses for Active and Non-active scenarios.

Procedure

  1. Access ASO.
  2. Select a scenario, and then, in the workspace of your choice, select the Risks tab.
    The Risks section appears, displaying a list of available risks.

  3. In the Risks section, in the grid, select the Risk with which you want to associate distribution data.
    The risk is highlighted.

  4. Select Associate Distribution.
    The Search window appears.
  5. In the Look In drop-down menu, select the group that you would like to search.
  6. In the Linked To drop-down menu, select the group you would like linked to the search.
    Note: If you have selected All Families as an option, the Linked To drop-down menu may not be populated.
  7. In the search box, enter the criteria you want to search for, and select .
    Your results appear.
  8. Select the appropriate risk, and then select OK.
    A message appears, confirming that the record has been updated.

Risks to Reset

About This Task

The Risks to Reset column displays a number representing the number of additional Risks that will be reset following a planned or unplanned correction of the Risk in that row. The number appears as a hyperlink, which you can select to access the Risks to Reset subsection, where you can manage the additional Risks that will be reset in the simulation following a planned or unplanned correction of the source Risk.

Procedure

  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. In the row for the Risk that you want to reset, select the link in the Risks to Reset column.
    The Risks to Reset subsection appears.
  4. In the Selected column, select the check box next to each risk that you want to include.
  5. Select .
    The Risks grid reappears, with an updated number in the appropriate Risks to Reset column.

Modify Qualitative Consequence in Risk

Procedure

  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available Risks.


  3. In the Risks section, in the grid, in the row containing the Risk whose qualitative consequence you want to define, select the link in the Qualitative Consequence column.

    The Qualitative Consequence subsection for the selected Risk opens.

  4. Select , and then modify the available fields.
  5. Select .
    A message appears, confirming that the consequence has been saved. To return to the Risks section, select .

Refresh Distribution Data

Procedure

  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. In the Risks section, in the grid, select the Risk that you want to refresh.
    The risk is highlighted.
  4. Select .
    A message appears, asking you to confirm refreshing the distribution.
  5. Select OK.
    The distribution has been refreshed.

Manage Planned Resource Usage

When modeling resource usage in a simulation scenario, resource time and costs are consumed as Risks are mitigated. Resources are therefore added against Risks and are modeled in the form of planned (for scheduled maintenance) and unplanned (for unscheduled risk-related events).

Search for Planned Resource Usage in Risks

Procedure
  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the Risk whose planned resource usage you want to search for.
    The risk is highlighted.
  4. In the Risks section, in the grid, in the row containing the Risk whose planned resource usage you want to search for, select the link in the Planned Resource Usages column.

    The Planned Resource Usages subsection for the selected risk opens.

  5. Select .
    In the grid, filter boxes appear.
  6. In the filter box for any column, enter search information.
    Your results appear.

Add a Planned Resource Usage in Risks

Procedure
  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the Risk whose planned resource usage you want to add.
    The risk is highlighted.
  4. In the Risks section, in the grid, in the row containing the Risk whose planned resource usage you want to add, select the link in the Planned Resource Usages column.

    The Planned Resource Usages subsection for the selected risk opens.

  5. In the Planned Resource Usages subsection, select .
    The Add New Resource Usage datasheet appears.
  6. As needed, enter values in the available fields.
  7. Select .
    A message appears confirming that your new resource usage has been added. Select to return to the Planned Resource Usages subsection.

Add Existing Planned Resource Usage in Risks

Procedure
  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the Risk to which you want to add existing planned resource usage.
    The risk is highlighted.
  4. In the Risks section, in the grid, in the row containing the Risk to which you want to add existing planned resource usage, select the link in the Planned Resource Usages column.

    The Planned Resource Usages subsection for the selected risk opens.

  5. Select .
    The New Resource Usage from Existing Resources window appears.
  6. As needed, modify the available fields.
  7. Select Finish.
    The new resource appears in the Planned Resource Usages subsection.

Modify Planned Resource Usage in Risks

Procedure
  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the Risk whose planned resource usage you want to modify.
    The risk is highlighted.
  4. In the Risks section, in the grid, in the row containing the Risk whose planned resource usage you want to modify, select the link in the Planned Resource Usages column.

    The Planned Resource Usages subsection for the selected risk opens.

  5. Select the planned resource usage that you want to modify.
    The resource usage is highlighted.
  6. Select , and then, as needed modify the appropriate fields.
  7. Select .
    A message appears, confirming that the resource has been modified, and the Planned Resource Usages subsection appears.

Delete Planned Resource Usage in Risks

Procedure
  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the Risk whose planned resource usage you want to delete.
    The risk is highlighted.
  4. In the Risks section, in the grid, in the row containing the Risk whose planned resource usage you want to delete, select the link in the Planned Resource Usages column.

    The Planned Resource Usages subsection for the selected risk opens.

  5. Select the existing resource that you want to delete.
    The resource is highlighted.
  6. Select .
    A message appears, asking you to confirm that you want to delete the resource.
  7. Select OK.
    A message appears, confirming that the selected resource is deleted.

Search for Unplanned Resource Usage in Risks

Procedure
  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the Risk whose unplanned resource usage you want to define.
    In the Risks section, in the grid, in the row containing the Risk whose planned resource usage you want to define, select the link in Unplanned Resource Usages column.

    The Unplanned Resource Usages subsection for the selected risk opens.

  4. Select .
    In the grid, filter boxes appear.
  5. In the filter box for any column, enter search information.
    Your results appear.

Add an Unplanned Resource Usage in Risks

Procedure
  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the Risk whose unplanned resource usage you want to add.
    The risk is highlighted.
  4. In the Risks section, in the grid, in the row containing the Risk whose planned resource usage you want to add, select the link in the Unplanned Resource Usages column.

    The Unplanned Resource Usages subsection for the selected risk opens.
  5. In the Unplanned Resource Usages subsection, select .
    The Add New Resource Usage datasheet appears.
  6. As needed, enter values in the available fields.
  7. Select .
    A message appears confirming that your new resource usage has been added. Select to return to the Unplanned Resource Usages subsection.

Add Existing Unplanned Resource Usage in Risks

Procedure
  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the Risk to which you want to add existing unplanned resource usage.
  4. In the Risks section, in the grid, in the row containing the Risk to which you want to add existing unplanned resource usage, select the link in the Unplanned Resource Usages column.

    The Unplanned Resource Usages subsection for the selected risk opens.

  5. Select .
    The New Resource Usage from Existing Resources window appears.
  6. As needed, modify the available fields.
  7. Select Finish.
    The new resource appears on the Unplanned Resource Usages subsection.

Modify Unplanned Resource Usage in Risks

Procedure
  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the Risk whose unplanned resource usage you want to define.
    The risk is highlighted.
  4. In the grid in the Risks workspace, in the row containing the Risk whose planned resource usage you want to define, select the Unplanned Resource Usages hyperlink.

    The Unplanned Resource Usages grid for the selected risk opens.
  5. Select the resource usage that you want to modify.
    The resource usage is highlighted.
  6. Select .
    Modify the appropriate fields.
  7. Select .
    A message appears, confirming that the resource has been modified, and returns you to the Unplanned Resource Usages grid.

Delete Unplanned Resource Usage in Risks

Procedure
  1. Access ASO.
  2. Select a scenario, and then, in the workspace, select the Risks tab.
    The Risks section appears, displaying a list of available risks.


  3. Select the Risk whose unplanned resource usage you want to delete.
  4. In the Risks section, in the grid, in the row containing the Risk whose planned resource usage you want to delete, select the link in the Unplanned Resource Usages column.

    The Unplanned Resource Usages grid for the selected risk opens.

  5. Select the resource usage that you want to delete.
    The resource usage is highlighted.
  6. Select .
    A message appears, asking you to confirm that you want to delete the resource.
  7. Select OK.
    A message appears, confirming that the selected resource is deleted.