The purpose of a Business Impact Analysis (BIA) is to determine: Choose the correct answer? The cost to repair a failed system The extent of a disaster's damage Critical business processes that must be maintained How often an incident will occur
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The purpose of a Business Impact Analysis (BIA) is to determine:
Choose the correct answer?
The cost to repair a failed system
The extent of a disaster's damage
Critical business processes that must be maintained
How often an incident will occur
Step by step
Solved in 2 steps
- At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.A manager of Splitter Manufacturing that produces computer hard drives is planning to lease a new automated inspection system. The manager believes the new system will be more accurate than the current manual inspection process. The firm has had problems with hard drive defects in the past and the automated system should help catch these defects before the drives are shipped to the final assembly manufacturer. Respond to all questions based on the data provided. Current Manual Inspection System Annual fixed cost = $45,000 Inspection variable cost per unit = $15 per unit New Automated Inspection System Annual fixed cost = $165,000 Inspection variable cost per unit = $0.65 per unit 2. In Problem 1, assume the cost factors given in “current manual system” have not changed. A marketing representative from Hi-Quality, a firm that specializes in providing manual inspection processes for other firms, approached Splitter…A manager of Splitter Manufacturing that produces computer hard drives is planning to lease a new automated inspection system. The manager believes the new system will be more accurate than the current manual inspection process. The firm has had problems with hard drive defects in the past and the automated system should help catch these defects before the drives are shipped to the final assembly manufacturer. Respond to all questions based on the data provided. Current Manual Inspection System Annual fixed cost = $45,000 Inspection variable cost per unit = $15 per unit New Automated Inspection System Annual fixed cost = $165,000 Inspection variable cost per unit = $0.65 per unit a. Suppose annual demand is 7,000 units. Should the firm lease the new inspection system? Why or why not? (Your “why” should not be “the spreadsheet output indicated….”) b. Assume you are trying to change (or negotiate) situational factors to make…
- A series of thefts from your pharmacy area have occurred in the last six weeks. The director of security and the head of pharmacy services now require all persons working in the pharmacy department with access to drugs to clock out after their shifts and then go through a security check before leaving the building. Several employees have complained that they should be paid for this time because the security check is for the employer’s benefit. The director of security and the head of pharmacy services have responded that this security check is for the benefit of the employees to ensure that no one is unjustly accused. Is either party correct? If so, which one and why?True or false; explain your answer. For the past year, the average repair frequency for motorcycles (originally purchased in year 2021) that are owned by their original buyers are about the same as the average repair frequency for motorcycles (originally purchased in year 2021) that are owned by people who are the second owners of the motorcycles. This fact is evidence suggesting a market for lemons.Scenario: A manufacturing company employs several maintenance employees. When a problem occurs with the equipment, a maintenance employee receives a description of the symptoms and is supposed to locate and fix the source of the problem. The company recently installed a new, complex electronics system. To prepare its maintenance workers, the company provided classroom training. The trainer displayed electrical drawings of system components and posed problems about the system. The trainer would point to a component in a drawing and ask, “What would happen if this component were faulty?” Trainees would study the diagram, describe the likely symptoms, and discuss how to repair the problem. Question: If you were responsible for this company’s training, how would you evaluate the success of this training program?
- One of the industrial robots designed by a leading producer of servomechanisms has four major components. Components’ reliabilities are .98, .95, .94, and .90. All of the components must function in order for the robot to operate effectively.a. Compute the reliability of the robot.b. Designers want to improve the reliability by adding a backup component. Due to space limitations, only one backup can be added. The backup for any component will have the same reliability as the unit for which it is the backup. Which component should get the backup in orderto achieve the highest reliability?c. If one backup with a reliability of .92 can be added to any one of the main components, which component should get it to obtain the highest overall reliability?Identify the possible assessment measures that are going to be used to identify which problems are most likely to occur that may affect the implementation of the new system.The guidance system of a ship is controlled by a computer that has three major modules. In order for the computer to function properly, all three modules must function. The modules have reliabilities of 97%, 95%, and 99%. What is the reliability of the computer? A backup computer identical to the one being used will be installed to improve overall reliability. Assuming the new computer automatically functions if the main one fails, determine the resulting reliability. If the backup computer must be activated by a switch in the event that the first computer fails, and the switch has a reliability of 98%, what is the overall reliability of the system? Both the switch and the backup computer must function in order for the backup to take over.
- Some new product launches fail and this leaves a negative impact on the profitability of the company. Using a particular product as an example, discuss 1. What steps should the company launching the product take in order to mitigate product launch failure or to address the situation in the event of a failure of the launch of that productGrain dust is pound for pound more explosive than coal dust or gunpowder. Ignited by an electrostatic discharge or other cause, it has ripped apart grain silos and has killed or wounded many workers over the years. When 54 people were killed during Christmas week 1977, grain handlers and the U.S. government finally decided to combat dust accumulation.10 Ten years, 59 deaths, and 317 serious injuries later, a compromise standard was agreed on that designates dust accumulation of one-eighth inch or more as dangerous and impermissible in silos in the United States. Nevertheless, on Monday, June 8, 1998, a series of explosions killed seven workers performing routine maintenance at one of the largest grain elevators in the world, demolishing one of the 246 concrete, 120-feet-high silos that stretch over a length of one-half mile in Haysville, Kansas. Discuss grain facility explosions as a case study of workplace safety and rule making: Which ideas concerning acceptable risk apply here? My…One of the industrial robots designed by a leading producer of servomechanisms has four major components. Component 0.98, 0.95, 0.94, and 0.90. All of the components must function in order for the robot to operate effectively. b. Designers want to improve the reliability by adding a backup component. Due to space limitations, only one backup cbackup for any component will have the same reliability as the unit for which it is the backup. Compute the reliability of the robot.
