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Course Project Part II
For this part, you will be creating two decision trees concerning specific risks or events from the project you developed in part 1. The first one will be a decision tree used to make a decision. You will be calculating an expected value based upon this decision tree. The second will be for a basic risk or event where you will be creating a fault or event tree illustrating what makes up the fault or event. With each of these, you will need to discuss the process and results of your tree.
The risks or events you use will be from the project you used in the part one. You will need to start the report with a short introduction of that project so that there is continuity and the reader will understand the events and risks being discussed. You do not have to include part one in your part two report.
Create one decision tree with an expected value and a fault or event tree that would support the exploration of risk for the project you used for part one of the course project. (That is two trees in all.) Provide a one paragraph project description of the part 1 project but you do not have to repeat all the other information in this part.
·The decision tree must be created to support a major risk-related decision likely to be faced by the project. The calculation of expected values is a requirement of this project.
·The fault or event tree should offer at a minimum a listing of potential risks and impacts in the event of a smaller failure.
For example, a smaller failure could be the loss of water pressure or a fire in a construction project rather than examining what risk was involved with the collapse of the construction project.
Write a discussion of the risks that supports the fault tree, event tree, or decision tree that has been created. Make a separate write up for each of these smaller risks associated with the fault tree or event trees. Your paper should have a general introduction that should introduce the decision tree and fault or event trees that will be discussed, and then the paper should have a discussion regarding each tree. See the sample outline below for details.
The part 2 paper regarding the identified risks and decision trees should be from six to ten pages in length. Note that this page length is a guideline.
At leastthree authoritative, outside references are required (anonymous authors or web pages are not acceptable). These should be referenced where used in the paper and listed on the last page titled, Works Cited.
Risks such as “project is over budget” or “project does not meet schedule” are too broad. Be specific.
Comments on how to create an acceptable tree and project paper
Each fault or event tree should offer at a minimum a listing of two or more potential risks and impacts in the event of two smaller failures. (This means for each tree you will have at a minimum two sub-faults with multiple causes for each of them.)
Use “and” and “or” gates properly. Understand the difference. When you use an ‘and’ gate it indicates that it take both of the conditions for the fault to occur. If either of the conditions could cause a problem this indicates the use of an ‘or’ gate.
There are examples and templates in doc sharing.
You need to select specific faults to use in the tree. General examples of faults are too broad for the fault tree to provide a comprehensive evaluation of the possible causes.
The graphics for the tree do not have to be artist professional quality but they do need to be student professional. A table is not sufficient. If you use screen shots be sure you crop them so that only the tree is included not all the computer menus and etc.
You should have at least two options under each gate. There is no reason for a gate if there is only one option.
When a template is provided or an example it is not meant to be copied. If you are not doing a construction project, your headings should not be “construction project” just because the example says that.
This is a risk management course. The engineering solutions to the problems on these projects are not the answer that you should be developing. The development is of the risk management system and process for your specific project.
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