It's the 1/4th scale POOP DECK model, used for the scene called "Final Plunge"... the item is the plastic CNC'd part from which molds were made to create to top sections of the 2 Engine Telegraphs on the docking bridge of the Poop Deck.
I've marked them with Red Arrows... this model was made by Don Pennington's team and is featured in the "Making Of Snippets" of the 4 disc DVD set.
I've attached a example photo of an Engine Telegraph "Titanic-1997-models-miniatures to show where this prop part was made, look at the top part... this was not used in the actual model as it was for producing the molds... i.e. the Master.
* It comes from a set of two miniatures so I have a copy of the original COA from "Museum of Mom and Pop Culture" (Alan J. Adler used to be the head of FOX Archive).
