Two Risks: 1. Risk one: a) A vast bridge project is under process connecting to big cities with length of 2kms from point A to B. Bridge construction has started and the pillars has been erected and...

CLEARY STATING THAT A SPREADSHEET (Ms ExcellFile ) IS REQUIRED IN THIS ASSIGNMENT FOR Required Questions and meeting required with expert before starting the worl


Two Risks: 1. Risk one: a) A vast bridge project is under process connecting to big cities with length of 2kms from point A to B. Bridge construction has started and the pillars has been erected and process of implementing of bridge decks is going on. Nearly 30 to 40 workers are involved in this process including the machinery operators. In this project pre casting technology is used so they directly fix the decks with thelp of crane. Carne with the help of cables lifts the deck and two additional machinery’s hold deck for support and accurate fixing. Workers will have clear idea on top of bridge where it has been placing. While fixing the decks fault in cable resulted to failure in holding the deck it collapse on supporting cranes and workers who are guiding it from bottom. Its caused serious damages to workers, machinery and environment. 4 deaths and 12 people are injured. Each decks fixing cost is estimated up to 100,000$ and 1 deck is fixed per day. Saturday and Sunday is for maintaince holidays for workers and machinery. It will take complete 3 years to complete the project. b) Unit of Exposure is every single time when a crane is lifting the deck and chances of deck falling in a year. c) We have got all the clear data like exposure, deaths and injuries, material loss, machinery loss and reason of failures. We have values for each damage happened so this helps in summing the amount which has been loss. On having the data of exposure we can get probability and frequency. So with all these information we can develop a QRM. 2. Risk Two a) A 20 storey building is under construction from last 2 years, it has completed its 18th storey and while erecting the 19th storey the building has collapsed. It caused losing life of 23 people and resulted in 41 injuries. This collapsed building has also created a huge loss in economic and machinery. Each storey consists of 5000 square feet’s and each square feet costs $50 and total constructed square feet are 90,000sqft. This all resulted in loss of 45,00,000$ of revenue. Failure of building is due to various reasons poor designs, low quality material and failure in gravity load calculations. b) Building is exposed to gravitational load all over the period of existence. Unit of exposure in this case is risk occurs per year is considered. c) Information from the legal construction sites of India will be taken for getting all the accurate analysis. There are estimations about the number of buildings collapse per year and damages caused each year. Collecting all the information will help in preparing a perfect QRM. (https://factly.in/more-than-13000-lost-lives-in-structure-collapses-in-the-last-5- years/) At this is a collapse during construction. In this case the Exposure unit would be buildings constructed per year, probability meaning would be collapses per construction and the Frequency Collapses per year. If there are country estimates of number of multi-story building constructed per year and records of building collapses in a year your model would be for the whole country. THESE ARE THE TWO RISKS SHOULD BE USED IN ASSINGMENT 3 QUESTIONS https://factly.in/more-than-13000-lost-lives-in-structure-collapses-in-the-last-5-years/ https://factly.in/more-than-13000-lost-lives-in-structure-collapses-in-the-last-5-years/ Page of 2 2 RSK80007 Quantified Risk Modelling ASSIGNMENT 3 Your task is to develop quantified Risk models of two Risks of interest to you. This is an academic exercise and its purpose is to make you familiar with the process of quantified Risk modelling and to show me you understand the theory and the practice. a) Write up each Risk as a case study that explains the Risk in detail and describes the proposed control measures. b) Estimate/judge the values that could realistically be given to the various parameters relevant to modelling Risk and explain your reasoning to me. Don’t spend inordinate amounts of time trying to justify any of the values that have to be estimated/judged in order to complete the task (eg. does a death cost $3M or is it $3.2M? Is the Exposure 20 times a year or 18?). However, ensure that you do have justification for the values you use as I am not interested in you simply using a number with no justification. c) Use your spreadsheet to estimate the position of the Risk line, using any necessary “reality checks”. In other words, justify or even make a clear statement of the inadequacies of what you have done and the need for further investigation. Estimate the Risk value. Qualities I value in assessing your work are: • Understanding of the theory • A well-developed spreadsheet that is easy to understand • Units or meaning are made clear (see the Orientation to this Unit Module) • Explanation and justification/critique of values used. There is no target word count for your case study. (You are practicing a very useful technique so I hope you find the development of your spreadsheet and understanding of how it all works stimulating, not a chore). [50 marks each case study, 100 marks total] ASSIGNMENT 3 Worth: 33.33% Due Date: Midnight, Sunday 31st May Length: As and where indicated in the questions. If no word count guide is given assume that brief and precise responses are required. Purpose: To provide a structured opportunity to consider and apply the concepts presented in the notes. Semester 1, 2020, rev 1