18820257. RISK EVALUATION FOR EQUIPMENTS (Honeywell International Inc.)
RISK EVALUATION FOR EQUIPMENTS
Organization Name
Inventor(s)
Viraj Srivastava of Bangalore IN
RISK EVALUATION FOR EQUIPMENTS
This abstract first appeared for US patent application 18820257 titled 'RISK EVALUATION FOR EQUIPMENTS
Original Abstract Submitted
Techniques for risk management in a supply chain are described. In one aspect, to determine an overall impact of a fault associated with an equipment operating in a facility, multiple operational parameters of the equipment are monitored to detect an anomaly, based on which a fault in the equipment is identified. On identifying the fault, a first impact factor corresponding to an energy impact, a second impact factor corresponding to an emission impact, and a third impact factor corresponding to an economic impact are derived based on the multiple operational parameters. Further, an integrated risk indicator is computed from the impact factors to determine a current overall impact of the fault on the equipment. Accordingly, a risk profile including one or more remedial strategies is generated based on the integrated risk indicator and is issued to personnel of the facility for risk management.