About the Risk and Cost Summary Graphs

The Risk Profile chart that appears on the Strategy Details page shows only the Active and Unmitigated risk ranks, whereas the Risk Analysis shows the Proposed risk rank data, allowing you to compare the Active Strategy and the Proposed Strategy.

Note: The Risk Profile chart does not display Risk records that have been removed from the Proposed Strategy.

Risk Rank

The following image shows an example of a Risk Profile chart from the Risk Analysis section of a strategy, displaying the Risk Rank graph.

The Risk Rank graph contains the following elements:

• Unmitigated Risk Rank: The values for the unmitigated risk rank for each Risk in the Active Strategy are signified by .
• Proposed Mitigated Risk Rank: The values for the projected/proposed Strategy Mitigated Risk Rank value for each Risk that belongs to the Proposed Strategy are displayed on the light-blue vertical bar. As you make changes to the Asset Strategy, changing the strategy's state to Modified, those changes are reflected in the bars on the graph.
• Active Risk Rank: The Strategy Mitigated Risk Rank value for each Risk that belongs to the Active Strategy. These values are displayed on the dark-blue vertical bars on the graph.

Note: If a Proposed Strategy contains more Risks than the corresponding Active Strategy, the additional Risks are displayed on the Risk Profile chart. For any additional Risk, the unmitigated risk rank and the active risk rank will be the same until the strategy is activated.

Financial Risk

You can use the radio buttons on the Risk Profile (Risk Profile) chart to toggle between the Risk Rank graph and the Financial Risk graph. As seen below, the Financial Risk graph shows the financial risk of each asset in the strategy.

The risks are shown on the x-axis, while the y-axis contains a monetary amount in US Dollars (USD) for the following scenarios, which appear in the following chart.

• Unmitigated: The risks presented with no changes.
• Active: The risks as they are in an active strategy.
• Proposed: The risks as proposed with changes to the strategy.

Manipulating the Risk Rank and Financial Risk Charts

You can select to expand the Sort By list, which has sort and filter parameters pertaining to the chart organization, as shown in the following image.

For example, consider the following graph, which shows the total mitigated risk, 150.1, for Lubricant Degradation across all risk categories.

You would also see this value on the action card for Strategy Mitigated Risk Rank, accessed via the Risks and Actions page in your Asset Strategy.

If you filtered the Risk Profile section to display only risk values associated with the Operations risk category, it would look like the graph in the following image.

If you place the cursor over the line and the bars, you can choose to show the datapoint values on the graph to determine the exact risk rank values. The following image displays the example graph with the cursor hovering over the unmitigated risk bar for Lubricant Loss.

The Cost Projection chart combines the Active and Proposed scenarios for the cost of risk mitigation over a set period of time as defined in the Plan Length field for the strategy record, with the increments of time being on the y-axis and a monetary amount in US Dollars (USD) on the x-axis. The Strategy Details page show only the Active scenarios, while the Risk Analysis page compares both Active and Proposed. The Proposed scenarios appear as a light-blue vertical bar and the Active projections appear as a dark-blue vertical bar, as seen in the following chart.

When the optimization process is initiated from ASM, the contents of the Asset Strategy are transferred to the ASO module and the strategy in ASM is placed in Simulation mode. An Active scenario and a proposed scenario are then created in ASO.

The purpose of the Active scenario is to retain a visible record of the source strategy in ASO, for comparison purposes, while the proposed scenario provides a copy to be modeled under various proposed changes, the results of which will be shown in the simulation results, and in ASM.

When changes are made to the source strategy in ASM or to the proposed scenario in ASO, these are not immediately reflected in the linked module, i.e., synchronization is not automatic. The contents of the two modules are synchronized each time a Monte Carlo simulation is run.

When a simulation run is initiated all scenarios (Active, Proposed and copies) are subjected to Monte Carlo simulation, for which valid simulation data will need to be added via the scenario grids. If insufficient or invalid data is preventing simulation from running the user is taken to each scenario in turn to complete the necessary data, with mandatory entries being indicated by a red icon and a count showing on the scenario tab in the left navigation pane.

When the simulation run has been completed the contents of the proposed scenario are reflected in ASM, which is placed in a modified state. If initial synchronization, based on the proposed scenario in ASO, has not taken place, or the proposed scenario has been modified in ASO since the last simulation run, the user will not be permitted to make changes to the source strategy in ASM via Risk Analysis. Here the user will be notified on Risk Analysis and Review Strategy pages of the need to rerun the simulation and a hyperlink provided on these pages to initiate the Simulation run.

Note: The above restrictions on modifying a strategy in ASM do not apply to the Risk and Actions pages. Any additions or modifications to Actions and Risks will be captured in the Active and Proposed scenarios in ASO when the user selects Run Simulation in ASM. It is important that the hyperlink provided in the Risk Analysis and Review Strategy pages in ASM is used at this point since changes in ASM will not be captured if the Simulation is run from ASO. If the user chooses to run the Simulation from ASO the modified strategy will be overwritten with the simulation results from the proposed scenario before these changes had been captured and run in the ASO Analysis.