Risk Factors in the Process industry by using MCDM Methods: Literature from 2014 to 2019
R.K.A. Bhalaji1, S. Bathrinath2, S. Saravana Sankar3
1R.K.A. Bhalaji, Department of Mechancical Engineering, Kalasalingam Academy of Research and Education College, Krishnankoil (Tamil Nadu), India.
2S.Bathrinath, Department of Mechancical Engineering, Kalasalingam Academy of Research and Education College, Krishnankoil (Tamil Nadu), India.
3S.Saravana Sankar, Department of Mechancical Engineering, Kalasalingam Academy of Research and Education College, Krishnankoil (Tamil Nadu), India.
Manuscript received on 24 November 2019 | Revised Manuscript received on 18 December 2019 | Manuscript Published on 30 December 2019 | PP: 840-846 | Volume-9 Issue-1S4 December 2019 | Retrieval Number: A10541291S419/19©BEIESP | DOI: 10.35940/ijeat.A1054.1291S419
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Risk factors act as a critical part in the process industry because it affects the production efficiency, turnover and industrial development. Both managers and employees from industry faces the risk and difficult to manage them. So, the main aim of the review paper is to identify the most influential risks in the process industry by using Multi-Criteria Decision Making (MCDM) methods. But many employees have illiterate and poor knowledge about the risks. To overcome this issue, based on the risk percentage we prioritize the risks. For the employee’s perspective, it is easy to know and understand about the risks, how to handle the risks and to take preventive action before the risk will happen. The result of the review paper shown that 40% of risks occurred in sustainability, therefore more attention should be given to the risks by implementing some norms and standards regarding social and environmental issues.
Keywords: MCDM, Risk Factors.
Scope of the Article: Manufacturing Processes