Maximum potential loss

A Failure Mode and Effects Analysis (FMEA) is a sequential analysis and evaluation of the kinds of failures that could happen and their likely effects, expressed in terms of maximum potential loss. The technique is used as a predictive model and forms part of an overall risk assessment study. This analysis is described completely in the MIL-STD-1629A. The FMEA is most useful in system hazard analysis for highlighting critical components (Ridley, 1994). 

The probability and frequency of each occurrence, and the severity of the outcome-including an estimation of the maximum potential loss-will also need to be incorporated into any meaningful evaluation. 

This technique involves a sequential analysis and evaluation of the kinds of failures that could happen, and their likely effects, expressed in terms of maximum potential loss. 

Maximum Potential Loss (MPL) is rated on a 50-point scale where, for example ... 

Therefore, system safety techniques may be applied in order to eliminate any machinery malfunctions or mistakes in design that could have serious consequences. Thus, there is a need to analyse critically the complete system in order to anticipate risks, and estimate the maximum potential loss associated with such risks, should they not be effectively controlled. 

This analysis involves the identification and evaluation of risks by type and impact (i.e. maximum potential loss) on the company. A further analysis - Risk Ranking - may then be undertaken. 

A quantitative method of risk assessment - which takes into account the risk magnitude equation discussed above - considers the frequency (number of times spotted) the maximum potential loss (MPL) - i.e. the severity of the worst possible outcome and the probability that the risk will actually come to fruition and result in a loss to the organisation. 

Table 6.11 lists, to the right of the arrows, reducing agents or disposition to electron loss or disposition to oxidation in order of increasing strength. Such a list is more popularly called the electromotive force, or emf, series. The maximum potential difference which can be measured for a given cell is called the electromotive force (abbreviated emf) and represented by the symbol Ecell. It may be recounted that the emf values reported in Table 6.11 are for those cells under specified standard conditions in which all the concentrations are 1 M and pressures are 1 atm. The emf of such a cell is said to be its standard electromotive force, and is given by the symbol E ell. 

The Maximum probable property damage (MPPD) is then calculated by multiplying the Base MPPD by a Credit control factor. The Loss control credit control factors, see Table 9.6, allow for the reduction in the potential loss given by the preventative and protective measures incorporated in the design. 

Fig. 1 Plots for a typical PEM fuel cell showing (a) potential loss contributions, (b) corresponding characteristic I-V curves, and (c) resulting power density curves showing efficiency at maximum power, where 8 is the efficiency of the conversion of chemical energy into electrical energy is Ceii/ theoreticai.

The imaginary part of the modulus, also called the loss modulus, is a damping term which determines the dissipation of energy as heat upon deformation. G"/G is called the dissipation factor and is proportional to the ratio of energy dissipated per cycle to the maximum potential energy stored during a cycle. 

The quality of heat is defined as its maximum potential to perform work with respect to a defined environment. Usually, this is the environment within which the process takes place. The Carnot factor quantitatively expresses which fraction of heat is at most available for work. Heat in free fall from a higher to a lower temperature incurs a loss in this quality. The quality has vanished at T0, the temperature of the prevailing environment. Lost work can be identified with entropy generation in a simple relation. This relation appears to have a universal value. 

In an effort to explore this aspect further, a paper written by Gyftopoulos and Benedict concerning the maximum potential efficiency of an air separation plant provided some insight (4 ). Compressed air is separated by cryogenic distillation into oxygen and nitrogen. In a unique approach, the authors developed an idealized process wherein all thermodynamic inefficiencies which could be corrected by capital investment were eliminated. The losses in the distillation tower were not much affected by this approach. Their thermodynamic analysis for the practical and idealized processes are compared in Figure 7. 

Equation 14 is the analytical description of the potential well for this model the maximum potential energy loss, or the depth of the well, is that value of gP (which we term Pdisp) at which z — ze—i.e.,... 

Unemployment insurance (UI) in the United States is social insurance. It encompasses a blend of principles drawn from private insurance and social welfare. It aims to prevent descent into poverty, not to insure against all wage loss. UI pays benefits to involuntarily unemployed job seekers with sufficient prior earnings who are actively engaged in re-employment efforts. The maximum potential duration of benefits is about half a year, and there is no secondary programme of cash assistance for labour force members who exhaust their UI entitlement. To assure that only insurable joblessness is compensated, there are strict rules governing job separation and continuing unemployment. 

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