RISK MANAGEMENT AND FEASIBILITY | My Assignment Tutor

RMIT Classification: TrustedTESTSemester 1, 2021SCHOOL OF: ENGINEERINGSYLLABUS NO. & TITLE: MANU 1051RISK MANAGEMENT AND FEASIBILITYDATE: 2 June, 2021 (Wednesday)Or email by agreementTIME: 3:30 pm (EST)Or email by agreementDURATION OF TEST: Two (2) hours.TEST PAPER DETAILS:Number of pages: 9 (including cover sheet)Number of questions: 3INSTRUCTIONS:1. Answer TWO questions.2. Paper is marked out of 100, i.e. 50 marks for each question.3. Final score will be scaled to 30% of total in course4. Open book test.5. If you submit answer for all 3 questions, THE LOWEST TWOQUESTIONS WILL BE RECORDED. (To prevent people copyinganswers from another student in addition to submitting own so as to trythe luck)6. If you submit more than one answer for each question, THE LOWESTSCORED ANSWER WILL BE RECORDED. (To prevent people copyinganswers from several sources and yet don’t know which one should beused)RMIT Classification: TrustedQuestion 1Australia has good track record of containing COVID-19 within a state but travelban between states can be implemented within half day leaving no time fortravelers to find alternative means of returning home.You are running a business that requires your presence to service customers.The business opens 7 days a week.Your business was not affected much during the pandemic. Year 2020 was in facta busy year for you. To award yourself, you decide to go inter-state to StateS foryour well-earned holidays of 7 days in the next 4 weeks.StateS has implemented 5 days lockdown immediately if there is an untraceablelocally transmitted COVID-19 case. This happened 7 times in Year 2020. Noticeof lockdown is normally received around mid day.The following get-away data are known:(1) You budget the business to close for 10 days. You plan to fly off on secondday and return on eighth day of these 10 days.(2) Your airfare is $500 and is pre-paid. No change of destination is allowed.However, change of travel date is allowed free of charge if a lock down isimplemented at your destination prior to the date of travel. If a lock down isimplemented at your destination while you are flying (or already check-infor flying), you can arrive your destination as if you are flying in before thelock down.(3) Your holiday accommodation bookings of $2,100 are pre-paid. Holidayaccommodation bookings can be cancelled:a. Free of charge 7 days prior to arrivalb. $200 between 6 and 4 daysc. $500 between 3 and 2 daysd. No refund 1 or 0 day (day of arrival).(4) You have also booked two local tourist packages @$550. A 25% depositis required. The remaining amount will be paid a day before going to thepackage tours. You will go to the package tours on Day 2 and Day 4 whenyou are in StateS. The deposit cannot be refunded if you don’t go on thetours.(5) If a lock down is implemented in StateS while you are there, you will needto wait for removal of lock down before boarding any flight. Hotelaccommodation is $300 per day.(6) If you return from StateS within 3 days of a lock down, you are required tocomplete hotel quanrantine for 14 days from the date of return. Hotelquarantine cost is $3,000 flat fee.RMIT Classification: Trusted(7) Except the 10 days break time, you will lose $2,000 per day if you can’tattend to your business in the next 28 days. You will lose $3,000 per day ifyou can’t attend to your business after 28 days.Today is Day 0. You have to book your holidays today. What strategy would youtake to minimize risks of loss. Consideration of your strategy includes:• When to start your holidays.• How to handle the risks of lockdown.• What to do if lockdown happens while you are away.• Any other considerations that may affect risks.Loss is defined as expenses that you can’t get the services related to theexpenses.State any assumptions you may have in your assessment.(50 marks)RMIT Classification: TrustedQuestion 2COVID-19 has demanded development of disinfection technologies at a rate thatis unprecedented. There are many business opportunities, both before and afterCOVID-19 pandemic period. One of the potential technological solution leading totremendous business opportunities is UVC disinfection system.UVC is a particular ultra violet light (222 nm wavelength). Studies show thatCOVID-19 deactivates viruses such as SARS-CoV-2 and antibiotic-resistantbacteria within a minute or two and without causing harm to human body(including skin and eyes). Hence, this wavelength of light can be used in amanned space.A biomedical equipment company intends to develop a fully autonomous UVCdisinfection robot that can:(1) Accept a mission description, including space identifiers and layoutinformation(2) Move autonomously in the medical establishment:a. Control isolating doors to open or close for the robot.b. Go into infected spaces.c. Occupy designated locations in the space.d. Avoid obstacles while moving between spaces.(3) At each location:a. Shine UVC to the space in 3D and 360 deg according to disinfectionprocedureb. Dispense cleansing agent in mist to all exposed surfaces. Thecleansing agent is expected to adhere to surfaces and removepathogens.c. Collect physical test samples of surfaces (by a small robot armholding a testDue to competition and new hygiene requirements, this type of products will beout-of-date after 3 years in the market.Technologies to support these operations are assessed as in Table Q2-1:Table Q2-1: TRL rating uncertainties OperationTechnologyTRL rating1T172aT262bT382cT482dT583aT673bT783cT87 RMIT Classification: TrustedExperience shows that the time (in years) for a technology to develop from currentTRL to TRL9 can be expressed in equation Q2-1:1 190xt C e e C C  – –= –    Q2-1where x is TRL of the technology, C0 = 20 and C1 = 2.5.Similarly, experience shows that the time (in months) for a system to develop fromcurrent SRL to SRL9 can be expressed by the same equation such that x is SRLof the subsystem, C0 = 15 and C1 = 4.5.To develop the technologies to TRL9 for application and to integrate the productsto SRL9, a product development engineering team is required. The engineeringteam to develop a technology or a subsystem consists of one project manager(annual salary $150k per year), and three engineers (annual salary $100k peryear). An overhead rate of 200% is applied to this type of engineering teams.Marketing feasibility study provides market information as shown in Table Q2-2.Table Q2-2: Market information Market conditionsGoodFairPoorMax annual revenue in $k500038002200Annual operating cost in $k400350300Annual dormant cost in $k400350300Probability of market condition0.20.50.3 The market conditions are expected to change every year. The above marketinformation is valid for next 5 years.If the initial investment of $2M is required to bring the technology and systemlevels to the status in Table 1, is the project worth pursuing for a MARR of 10%?State any assumptions you make during the analysis.(50 marks)RMIT Classification: TrustedQuestion 3You are the manager of a large restaurant chain. Your restaurants operate fromseveral types of buildings:• Standalone house (Figure Q3-1)• Upstairs of a terrace style building along the street (Figure Q3-2)• Inside a large shopping centre (Figure Q3-3)Figure Q3-1 – Standalone house restaurantFigure Q3-2 – Terrace building restaurant (Note: picture is for illustration only.Your restaurants are upstairs. Customers need to walk up a staircase at the sideof the street shop)RMIT Classification: TrustedFigure Q3-4 – Shopping centre restaurantWith the reduction of COVID cases, you are allowed to re-open the restaurants.However, occasion transmission of the virus in your restaurants is still a bigconcern. You read the scientific information from the US CDC as follows.=======================================================Scientific Brief: SARS-CoV-2 TransmissionThe principal mode by which people are infected with SARS-CoV-2 (the virus thatcauses COVID-19) is through exposure to respiratory fluids carrying infectiousvirus. Exposure occurs in three principal ways: (1) inhalation of very finerespiratory droplets and aerosol particles, (2) deposition of respiratory dropletsand particles on exposed mucous membranes in the mouth, nose, or eye by directsplashes and sprays, and (3) touching mucous membranes with hands that havebeen soiled either directly by virus-containing respiratory fluids or indirectly bytouching surfaces with virus on them.People release respiratory fluids during exhalation (e.g., quiet breathing,speaking, singing, exercise, coughing, sneezing) in the form of droplets across aspectrum of sizes. These droplets carry virus and transmit infection.• The largest droplets settle out of the air rapidly, within seconds to minutes.• The smallest very fine droplets, and aerosol particles formed when these finedroplets rapidly dry, are small enough that they can remain suspended in theair for minutes to hours.• Infectious exposures to respiratory fluids carrying SARS-CoV-2 occur in threeprincipal ways (not mutually exclusive):• Inhalation of air carrying very small fine droplets and aerosol particles thatcontain infectious virus. Risk of transmission is greatest within three to six feetof an infectious source where the concentration of these very fine droplets andparticles is greatest.• Deposition of virus carried in exhaled droplets and particles onto exposedmucous membranes (i.e., “splashes and sprays”, such as being coughed on).RMIT Classification: TrustedRisk of transmission is likewise greatest close to an infectious source wherethe concentration of these exhaled droplets and particles is greatest.• Touching mucous membranes with hands soiled by exhaled respiratory fluidscontaining virus or from touching inanimate surfaces contaminated with virus.Once infectious droplets and particles are exhaled, they move outward from thesource. The risk for infection decreases with increasing distance from the sourceand increasing time after exhalation. Two principal processes determine theamount of virus to which a person is exposed in the air or by touching a surfacecontaminated by virus:Decreasing concentration of virus in the air as larger and heavier respiratorydroplets containing virus fall to the ground or other surfaces under the force ofgravity and the very fine droplets and aerosol particles that remain in the airstreamprogressively mix with, and become diluted within, the growing volume andstreams of air they encounter. This mixing is not necessarily uniform and can beinfluenced by thermal layering and initial jetting of exhalations.Progressive loss of viral viability and infectiousness over time influenced byenvironmental factors such as temperature, humidity, and ultraviolet radiation (e.g.sunlight).With increasing distance from the source, the role of inhalation likewise increases.Although infections through inhalation at distances greater than six feet from aninfectious source are less likely than at closer distances, the phenomenon hasbeen repeatedly documented under certain preventable circumstances. Thesetransmission events have involved the presence of an infectious person exhalingvirus indoors for an extended time (more than 15 minutes and in some caseshours) leading to virus concentrations in the air space sufficient to transmitinfections to people more than 6 feet away, and in some cases to people whohave passed through that space soon after the infectious person left. Perpublished reports, factors that increase the risk of SARS-CoV-2 infection underthese circumstances include:• Enclosed spaces with inadequate ventilation or air handling within which theconcentration of exhaled respiratory fluids, especially very fine droplets andaerosol particles, can build-up in the air space.• Increased exhalation of respiratory fluids if the infectious person is engaged inphysical exertion or raises their voice (e.g., exercising, shouting, singing).• Prolonged exposure to these conditions, typically more than 15 minutes.The infectious dose of SARS-CoV-2 needed to transmit infection has not beenestablished. Current evidence strongly suggests transmission from contaminatedsurfaces does not contribute substantially to new infections. Although animalstudies and epidemiologic investigations25 (in addition to those described above)indicate that inhalation of virus can cause infection, the relative contributions ofinhalation of virus and deposition of virus on mucous membranes remainRMIT Classification: Trustedunquantified and will be difficult to establish. Despite these knowledge gaps, theavailable evidence continues to demonstrate that existing recommendations toprevent SARS-CoV-2 transmission remain effective. These include physicaldistancing, community use of well-fitting masks (e.g., barrier face coverings,procedure/surgical masks), adequate ventilation, and avoidance of crowdedindoor spaces. These methods will reduce transmission both from inhalation ofvirus and deposition of virus on exposed mucous membranes. Transmissionthrough soiled hands and surfaces can be prevented by practicing good handhygiene and by environmental cleaning.=======================================================Although the government has implemented a number measures such as QR codecheck-in, capacity restrictions, in-restaurant social distancing, you are still worriedthat if there is a transmission proven in your restaurants, it will be disastrous to thebusiness reputation. What is your plan for ensuring absolutely no COVIDtransmission in your restaurants?State any assumptions you make in the analysis.(Total 50 marks)

QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER

Leave a Reply

Your email address will not be published.