Purpose – There is a widening gap between the expectations of internal audit stakeholders and the value the function brings to the table, for example, in the management of the risks threatening an organisation. The purpose of this paper is to investigate the views of chief audit executives...

Describes a new technique for prioritizing failures for corrective actions in failure mode and effects analysis (FMEA). This technique extends the risk prioritization beyond the conventional risk priority number (RPN) method. A new scale has been defined. The ranks 1 through 1,000 are used to...

Following a brief review of the current status of offshore safety regulations in the UK, several issues pertaining to the problems encountered in applying the existing reliability and safety analysis methods in quantitative safety appraisal studies, especially in the early concept design stage...

Applications of comprehensive Quality Function Deployment (QFD) – or QFD in the broad sense – to strategic management have been known for some time, and its results have been discussed within the international community of QFD specialists. It is therefore tempting to investigate the...

Purpose – This paper introduces a new method to calculate a QFD matrix. Design/methodology/approach – One of the most prominent tools in QFD is the matrix. Matrices represent cause‐effect relationships. Matrices are well‐known in mathematics for representing linear mappings between...

Purpose – The aim of this paper is to propose efficient models and algorithms for reliability value analysis of complex repairable systems linking reliability and losses from failures. Design/methodology/approach – The conventional reliability analysis is based on the premise that increasing...

Purpose – This paper aims to provide a cost effective failure mode and effects analysis tool to overcome the disadvantages of the traditional FMEA that the cost due to failure is not defined. Design/methodology/approach – The method presented in this paper is based on the fuzzy utility...

Purpose – Effectively managing risk is an essential element of successful project management. In this sense, the present study seeks to propose a systematisation of technical risk management through the use of FMEA to optimise the decision making process in new product development (NPD)....

Decision making in respect of hazard and safety analysis in the face of uncertain data in the management of widespread distribution systems is focused on. The narrow interpretation by Courts of the “foreseeable event” has become the benchmark of liability where power system failures have...

Corporate management must face not only the legal consequences of failing to manage risk adequately and to protect the public and the environment, but also the potential risks to profits and corporate reputations. There is thus an urgent need to understand organisational and industrial disasters...