Technology

Reduction of engineering costs

Automation of time consuming and error prone tasks:

• Processing of technical documentation

• Risk identification and classification

• Generation of risk analysis reports

Reduction of critical failures

• Seamless scaling with project complexity

• One-click updates when new project information / documentation is available

Improved knowledge management

• Indefinite retention of organizational knowledge

• Collaborative review of risk analysis results with key stakeholders 

Explainable AI

• Explicit references to relevant sections of input documentation for risk identification

• Traceability of AI model decisions throughout project evolution

FMEA (Failure Modes and Effects Analysis)

FMEA identifies potential failure modes within a system and assesses their impact to prioritize mitigation efforts.

• • Pros: Systematic, helps prioritize risks, improves reliability.

  • Cons: Time-consuming, may miss complex interactions.

FMECA (Failure Modes, Effects, and Criticality Analysis): 

FMECA extends FMEA by adding a criticality analysis to quantify the severity and likelihood of failures.

• • Pros: Detailed prioritization, quantifies risk, enhances decision-making.

  • Cons: More complex and resource-intensive than FMEA, relies on accurate data.

HAZOP (Hazard and Operability Study)

HAZOP examines processes to identify hazards and operability issues through systematic deviation analysis.

• • Pros: Thorough, identifies operational issues, enhances safety.

  • Cons: Requires expert knowledge, labor-intensive, may be subjective.

STPA (System-Theoretic Process Analysis)

STPA uses a systems theory approach to identify unsafe interactions and control flaws in complex systems.

• • Pros: Addresses complex interactions, focuses on control systems, adaptable to various domains.

  • Cons: Requires deep understanding of systems theory, only qualitative.