Simon Jones, Head of Professional Services, Petrotechnics, discusses the state of process safety and operational risk management, arguing it is time for a digital makeover.
Having explored, in part one of the Petrotechnics 2018 report, how operational risk management (ORM) and process safety management (PSM) in the global hydrocarbon industry are feeling the squeeze following the low oil price, part two explores the overwhelmingly positive views coming from senior industry leaders about the digital horizon. Here we share how well technologies that fall under the Industry 4.0 umbrella are understood, how far they are deployed today, how they compare to incumbent enterprise systems, and the value they will deliver to safety and risk management.
The consistent message from the first part of the 2018 report is that there are significant areas of concern in the way process safety and operational risk are perceived and managed. A disconnect between intention and reality persists, and the economic climate has heightened tensions in the way operational risk and process safety are managed on a daily basis.
Of the industry leaders taking part in the 2018 survey, only…
