Seminar series on System Reliability, Risk and Resilience
Prof. Gyunyoung Heo from the Department of Nuclear Engineering, Kyung Hee University, South Korea delivered the seminar on “Global risk and the development of risk assessment”.
As the digital, physical and human worlds continue to integrate, we experience a deep transformation in industry, which far-reaches into our lives. The 4th industrial revolution, the internet of things and big data, the industrial internet, are changing the way we design, manufacture, provide products and services. This is creating a complex network of things and people that are seamlessly connected and communicating. It is providing opportunities to make productions systems more efficient and faster, and more flexible and resilient the complex supply chains and distribution networks that tie the global economy. In this fast-pace changing environment, the attributes related to the reliability of components and systems continue to play a fundamental role for industry and those related to safety and security continue to be increasingly of concern, as a right to freedom. The innovations that are being developed have high potential of increased wellbeing and benefits, but also generate new and unknown failure mechanisms, hazards and risks, partly due also to new and unknown functional and structural dependencies. On the other hand, the advancements in knowledge, methods and techniques, the increase in information sharing, data availability and computational capabilities, and the advancements in knowledge that these can bring, offer new opportunities of development for the analysis and assessment of risks. Risk assessment must evolve for addressing these challenges. Development directions are presented, including the use of simulation for accident scenario identification and exploration, the extension of risk assessment into the framework of resilience and business continuity, the reliance on data for dynamic and condition monitoringbased risk assessment.