Risk.IT
Forecast of continuous risk in operational context

Challenge

Companies face the daily challenge of running their business processes effectively and efficiently, as well as to ensure their continuous operation. To meet economic requirements, companies apply concepts from the business process management domain. But what concerns the robustness and continuity of operations is the responsibility of other domains, such as risk management. Thus, the results of the analyses may differ significantly in that economic and risk valuations may lead to irreconcilable recommendations for improvement.

Solution

Main Objective:
To strengthen research, technological development and innovation.

The RISK.IT Project aims to advance the state of the art in what regards the usage of models for risk prediction and management, and also to put such models at the service of the operational efficiency of businesses. The project pursues an exciting goal: to change the current paradigm of using such models, from a “strategic” paradigm to an “operational” one, and from a login where risk analysis is “tailormade” to a new one where risk prediction and analysis is continuously evolving, in order to cope with the reality and requirements of businesses. With a particular focus in the area of transportation of hazardous materials, the project aims to make risk prediction models useful and key components in the operational management of the company. The usage of such models in the management and optimization of processes, as well as for the early detection and response to eminent risk situations, will increase the operational performance of the company, and also revolutionize the way risk management is employed in a business context.

Objectives, Activities and Results expected / achieved

Expected results:
• The main goal of this project is to provide risk prediction models and mechanisms validated in real operational contexts. This system will make it possible to build a differentiated value offering, addressing the real needs of many companies that rely on mobile workforces and, particularly, in the area of transportation of hazardous materials;

• In addition, the following areas are aso targeted by the outcome of this Project:
   - Road transport of materials;
   - Postal and courier activities;
   - Installation of equipment for electricity, gas, steam, hot and cold water;
   - Security Activities;
   - Repair, maintenance and installation of machinery and equipment.

Final Results:
• Development of algorithms for the characterization of driving using mobile devices;

• Validation of the developed assets in a real case scenario, within the road transport of hazardous materials sector;

• Publication of the scientific article "Driving Profile using Evolutionary Computation" at CEC2019 "2019 IEEE Congress On Evolutionary Computation".