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...

Limitations in scope but also difficulties with the efficiency and scalability of present algorithms seem to have so far limited the industrial uptake of existing automated FMEA technology. In this paper, we describe a new tool for the automatic synthesis of FMEAs which builds upon our earlier work on fault tree synthesis. The tool constructs FMEAs from engineering diagrams (e.g. developed in M...

Many processes are safety critical and therefore could benefit from proactive safety analysis techniques that attempt to identify weaknesses of such processes before they are put into use. In this paper, we propose an approach that automatically derives Failure Mode and Effect Analysis (FMEA) information from processes modeled in the Little-JIL process definition language. Typically FMEA inform...

Abstract Failure mode and effect analysis (FMEA) is a systematic approach for identifying potential failures before they occur, with the intent to minimize the risk associated with them. It has been widely used in the various manufacturing industries as a solution to reliability problems. As the importance of the service sector is increasing, however, it has been recently extended to some appli...

Emerging safety analysis techniques use composition of failure models or fault simulation in formal models of a system to determine relationships between the causes and effects of failure. Most recent work has focused on developing system modelling and algorithms for automatic safety analysis. However, little work has focused on developing principles to improve reuse of safety analyses in the c...

The paper presents a multi-factor decision-making approach for prioritizing failure modes as an alternative to traditional approach of failure mode and effect analysis (FMEA). The approach is based on the ‘technique for order preference by similarity to ideal solution’ (TOPSIS). The priority ranking is formulated on the basis of six parameters (failure occurrence, non-detection, maintainability...

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...

In this paper we present a general framework for conducting robustness analysis early in the development life cycle of web-based systems. This framework exploits the robustness failure modes and evaluates the impact of modifications that can be applied to reduce the severity of these failures. First, the system is systematically decomposed in its components using Jacobson’s analysis. Next, with...