User Account

All Pages

Risk Analysis & Modelling , Risk Management

Assignment Help:
Fire Risk model 1
1. Introduction
The new All-Scotland Fire Authority wishes to maximise the effectiveness of the service it provides to the Public, given the reduced budget it will have for fire-fighting and fire-prevention over the next five – 10 years, at least. Accordingly, you have been commissioned to a Qualitative Risk Analysis of Fire Prevention measures for an un-named town in Scotland
(i) A Quantitative Risk Analysis of Response Times to fires.

You must use the individualised values associated with your name in the data file, Fire_Risk_Appraisal.xlsx available on GCU-Learn and use it to write a report to the Senior Management of the new Authority.





2. Quantitative Model: Fire Prevention [70 marks]
The Authority has a per capita budget to purchase fire prevention measures in an effort to reduce the number of deaths and serious injuries caused by fires. The budget cannot be exceeded, but need not all be spent. The Authority has already conducted a Risk Assessment of the town, and has computed Risk Scores for each person, taking into account their Age, Gender, personal habits, etc. 2 These scores have been mapped into a Risk Category as follows: Risk Scoring Regime
Breakpoint Category
0 Low
10 Low-Medium
40 Medium
80 Medium-High
120 High
150 Dangerously High

1 We are indebted to Senior Fire Officers from Central and Strathclyde Brigades, who have provided both guidance and inspiration for this Assignment.
2 This is the Fire Risk model we looked at earlier in the Trimester. You may want to look at it again to remind yourself how it worked.

3 Note that #3 and #4 are mutually exclusive of each other.
The Authority has five basic fire prevention measures it can provide to a household, each with differing effectiveness and costs:
1. Fire Prevention leaflet: this contains ‘tips’ for reducing fire risk in the home
2. Home Safety Visit: a 30 minute visit to a house to assess the risks and to offer advice on how to improve safety in the house
3. Installation of a Smoke Detector/Alarm 3
4. Installation of Smoke and Carbon Monoxide Detector/Alarms
5. Installation of a Portable Water Sprinkler system



The effectiveness of each measure is dependent, to some extent, on the individual’s attributes, as indicated in the following table: Category FP Leaflet HSV Smoke Detector Smoke/CD Detector PWS
Low Effective Effective Effective Highly Effective Ineffective
Low-Medium Effective Effective Effective Highly Effective Ineffective
Medium Highly Effective Effective Effective Highly Effective Ineffective
Medium-High Highly Effective Highly Effective Highly Effective Highly Effective Ineffective
High Ineffective Ineffective Highly Effective Highly Effective Effective
Dangerously High Ineffective Ineffective Ineffective Ineffective Highly Effective


The task is to construct a model, using only the data (individuals, costs and budget) assigned to you in the file Fire_Risk_Appraisal.xlsx that will determine what measures should be offered (if any) to the individuals in the town, with a view to maximize the total risk scores, while spending within the budget.
Your report on this analysis should explain the general scenario, your approach to solving this particular problem and what you are recommending to management and assessing the extent to which safety in the town will be improved.

Related Discussions:- Risk Analysis & Modelling

Risk management, Several issues have arisen on the Kauri Café Project. Four...

Several issues have arisen on the Kauri Café Project. Four months have passed since the project started. ABC Co. are complaining about not being paid appropriately you initially th

What are the main causes of risks in a project, Quesiton: (a) Describe ...

Quesiton: (a) Describe why people management is important for the success of a project (b) Show which people and groups of people are important for the success of a project

Unsystematic risk, a. What is unsystematic risk? How is it different from s...

a. What is unsystematic risk? How is it different from systematic risk? Describe the sources of unsystematic risk. What will the required rate of return be when the level of system

Techniques of risk management, identify risks faced by a banking institutio...

identify risks faced by a banking institution and ways of preventing them

Data security, Data Security: An important issue for all organisations ...

Data Security: An important issue for all organisations is the security of data. Just as documentation require physical security in the face of risk of theft / fire etc, electr

Components of risk management system, (a) Risk has always been an intrinsi...

(a) Risk has always been an intrinsic part of project management. With increasing market competition, technology, and globalisation, risk management is continuously gaining wider

Post loss objectives, a) Discuss the post loss objectives that would help t...

a) Discuss the post loss objectives that would help the firm recover

Draw the risk management control cycle, Question 1: Define the followin...

Question 1: Define the following terms: (a) Whole life assurance (b) Immediate annuity (c) Market Liquidity Risk (d) With-pro

Assingment, assignment with answer

assignment with answer

Differentiate between speculation and arbitraging, Question: a) Using i...

Question: a) Using illustrative and numerical example, differentiate between speculation and arbitraging in the context of foreign exchange market. b) One year borrowing and

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd