ARM 55 - Assignment 11 - Smart
Products and Risk Management
How Smart Products Apply to Risk Management
- Property Management - correct answer ✔Property managers can use
wireless sensor networks (WSNs) to detect and respond to leaks and
malfunctions or prevent on-site falls and injuries
How Smart Products Apply to Risk Management
- Supply Chain Management - correct answer ✔involves the risk of not only
product, service, or shipment disruptions caused by unforeseen events but
also the downstream effects that interruptions cause to other products,
services, or shipments. Risk assessment, which involves identifying potential
or actual disruptions, and risk control, which involves preventing or reducing
disruptions, use many emerging technologies to manage supply chain risks.
How Smart Products Apply to Risk Management
- Transportation Management - correct answer ✔Transportation
management that facilitates risk assessment and control involves
incorporating technologies from the Internet of Things (IoT) to connect
vehicles and their drivers with solutions for awareness, safety, efficiency, and
reliability. These same technologies also help organizations manage their
vehicle fleets. Some of these technologies even provide driver assistance.
Examples include crash avoidance; self-parking; cameras on the back of
trucks to facilitate lane changing; and, in some cases, full autonomous driving
capabilities enabled by cameras that use computer vision to discern people
from other objects or vehicles, as well as to recognize changes in pavement
types or abrupt lane changes in construction zones.
How Smart Products Apply to Risk Management
- Catastrophe Management - correct answer ✔Sensors and WSNs are also
used in catastrophe management. As long as a sensor can withstand a harsh
, environment, it can continuously monitor an area for light, temperature,
specific gases, and more. Alternatively, a sensor or WSN can measure local
changes when a catastrophe is predicted or has occurred.
How Smart Products Apply to Risk Management
- Workplace Safety Management - correct answer ✔wearables allow workers
to wear sensors, drones provide information and help assess and control risks
by going into unknown and potentially dangerous areas and robots which are
no longer clunky, and operate in close proximity to workers but do more of the
repetitive and heavy lifting type jobs.
How Smart Products Apply to Risk Management
- Construction and Engineering Management - correct answer ✔Mechanical
sensors detect and measure a physical quantity and produce a signal that is
readable by the user or another device. They are generally used with
machinery and have many applications in construction and engineering
Smart product: - correct answer ✔An innovative item that uses sensors;
wireless sensor networks; and data collection, transmission, and analysis to
further enable the item to be faster, more useful, or otherwise improved.
Big data: - correct answer ✔Sets of data that are too large to be gathered
and analyzed by traditional methods.
Wireless sensor network (WSN): - correct answer ✔A wireless network
consisting of individual sensors placed at various locations to exchange data.
Internet of Things (IoT): - correct answer ✔A network of objects that transmit
data to and from each other without human interaction.
Products and Risk Management
How Smart Products Apply to Risk Management
- Property Management - correct answer ✔Property managers can use
wireless sensor networks (WSNs) to detect and respond to leaks and
malfunctions or prevent on-site falls and injuries
How Smart Products Apply to Risk Management
- Supply Chain Management - correct answer ✔involves the risk of not only
product, service, or shipment disruptions caused by unforeseen events but
also the downstream effects that interruptions cause to other products,
services, or shipments. Risk assessment, which involves identifying potential
or actual disruptions, and risk control, which involves preventing or reducing
disruptions, use many emerging technologies to manage supply chain risks.
How Smart Products Apply to Risk Management
- Transportation Management - correct answer ✔Transportation
management that facilitates risk assessment and control involves
incorporating technologies from the Internet of Things (IoT) to connect
vehicles and their drivers with solutions for awareness, safety, efficiency, and
reliability. These same technologies also help organizations manage their
vehicle fleets. Some of these technologies even provide driver assistance.
Examples include crash avoidance; self-parking; cameras on the back of
trucks to facilitate lane changing; and, in some cases, full autonomous driving
capabilities enabled by cameras that use computer vision to discern people
from other objects or vehicles, as well as to recognize changes in pavement
types or abrupt lane changes in construction zones.
How Smart Products Apply to Risk Management
- Catastrophe Management - correct answer ✔Sensors and WSNs are also
used in catastrophe management. As long as a sensor can withstand a harsh
, environment, it can continuously monitor an area for light, temperature,
specific gases, and more. Alternatively, a sensor or WSN can measure local
changes when a catastrophe is predicted or has occurred.
How Smart Products Apply to Risk Management
- Workplace Safety Management - correct answer ✔wearables allow workers
to wear sensors, drones provide information and help assess and control risks
by going into unknown and potentially dangerous areas and robots which are
no longer clunky, and operate in close proximity to workers but do more of the
repetitive and heavy lifting type jobs.
How Smart Products Apply to Risk Management
- Construction and Engineering Management - correct answer ✔Mechanical
sensors detect and measure a physical quantity and produce a signal that is
readable by the user or another device. They are generally used with
machinery and have many applications in construction and engineering
Smart product: - correct answer ✔An innovative item that uses sensors;
wireless sensor networks; and data collection, transmission, and analysis to
further enable the item to be faster, more useful, or otherwise improved.
Big data: - correct answer ✔Sets of data that are too large to be gathered
and analyzed by traditional methods.
Wireless sensor network (WSN): - correct answer ✔A wireless network
consisting of individual sensors placed at various locations to exchange data.
Internet of Things (IoT): - correct answer ✔A network of objects that transmit
data to and from each other without human interaction.
