The
frequency percentages were based on the fractions
of the total number of citations for techniques
used in each category. For 25 cases in the General
Contractors category, there were a total of
33 citations, as multiple citations existed
in individual cases. Eleven out of these 33
citations were for Fault Tree Analysis (FTA),
which gave a 33.33% occurrence for FTA. The
risk assessment techniques most frequently used
in the seven selected industry categories were
as follows:
• General Contractors:
The most frequently used techniques were FTA
(frequency 33.3%), followed by Preliminary Hazard
Analysis (frequency 27.2%) and Cost/Benefit
Risk Analysis (frequency 15.2%). The factors
that contributed to the success were the technical
knowledge of the relevant industry, familiarity
with the risk management process and support
of the top management.
• Heavy Construction:
About 40.4% of the citations were for FTA, followed
by Cost/Benefit Risk Analysis (19.1%), and about
11.9% used Preliminary Hazard Analysis. The
factors that contributed to the success were
technical expertise and expertise in hazard
analysis.
•
Motor Freight Transportation: About
37.4% used Cost/Benefit Risk Analysis, followed
by Preliminary Hazard Analysis (29.1%) and FTA
(about 12.5%). The factors that contributed
to the success were technical expertise and
expertise in the field of risk management.
•
Railroad, Water and Air Transportation:
Preliminary Hazard Analysis was cited in about
31.5% of cases, followed by FTA (26.3%) and
Cost/Benefit Risk Analysis (21.0%). The factors
that contributed to the success were engineering
and technical expertise, familiarity with the
risk management process and support of the top
management.
•
Manufacturing Industries: FTA was cited
for about 33.3%, followed by Cost/Benefit Risk
Analysis (29.6%) and FMEA (7.4%). The factors
that contributed to the success were expertise
in Cost/Benefit Risk Analysis, system safety
analysis, and risk analysis.
•
Telecommunication and Information Technology:
Software risk analysis and FTA both were cited
for 27.3%, followed by Cost/Benefit Risk Analysis
(18.4%). The factors that contributed to the
success were expertise in system safety and
Cost/Benefit Risk Analysis.
•
Logistics, E-Business and Supply Chain Services:
Cost/Benefit Risk Analysis was cited in 63.7%
of the cases, followed by FTA (21.2%) and Team
Approach (9.1%). The factors that contributed
to the success were technical expertise in Cost/Benefit
Risk Analysis, broader knowledge of the various
phases of the industry, and expertise in risk
analysis.
•
Overall Usage in All These Industries: The
risk analysis tool most frequently used in all
seven categories of industries was found to
be Cost/Benefit Risk Analysis (57%), followed
by Fault Tree Analysis (55%) and Preliminary
Hazard Analysis (30%). In most of these cases,
support of the top management was cited as one
of the prime factors in achieving success in
the application of risk analysis for the projects.
