Introducing a novel system-of-systems axiomatic risk management technique for production systems

Asif Mahmood

Save this article

Need to know

With the novel SoSARM technique, the complex systemic risks at SoS and lower levels can be rectified with an all-encompassing view across the organization.
It is a robust and flexible quantitative approach that can manage hierarchical and cross domain operational risks through probabilistic causal relations.
The whole risk appraisal process is carried out advancing top-down while the implementation is accomplished taking on bottom-up approach.
The salient features of this method include: improved information sharing, alignment of purposes, enhanced coordination, openness of systems, visibility of actions, integration and optimum allocation of resources.

Abstract

We present a novel approach for managing the risks of a large complex sys- tem of systems. The methodology of system-of-systems axiomatic risk management (SoSARM) put forward here is an axiomatic-risk-based decomposition for resolving hierarchical coupled risks. The first part of the paper develops a new methodological concept to understand and quantify the relationships between higher-level and lower-level risks along with the contextual countermeasures adopted for each individual risk. In the second part of the paper, the theory and concepts developed demonstrate a typical production system of systems following a step-by-step hierarchical approach. We find the SoSARM technique to be a very simple yet comprehensive method of handling interdependent cross-domain risks.

As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.

If you would like to purchase additional rights please email info@risk.net

You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.

If you would like to purchase additional rights please email info@risk.net