Improving Process Safety Management and Reducing Unplanned Events
On average, petrochemical firms experience a drop in market value of 1.3% over the two days immediately following a disaster.*
There are no new events, yet unmitigated, often catastrophic events continue to happen. Investigation reports continue to point to a common theme: Companies are mistakenly using personal injury rates as an indication of acceptable process safety performance and gaining a false sense of security. But a lack of reporting does not mean a lack of incidents. Once risks are mitigated we must constantly monitor the controls to ensure that they are effective. As conditions change, equipment ages and new risks are introduced, it is important to re-assess and adjust to continuously measure progress and success.
Join industry peers from ConocoPhillips and IHS for this live webcast and develop a deeper understanding of how leading and lagging indicators for process safety management can help you reduce the likelihood of major incidents. This webinar will highlight various regulations and standards affecting process safety management including the API 14C and ISO 10418 standards for the “Analysis, Design, Installation, and Testing of Basic Surface Safety Systems for Offshore Production Platforms” and how their implementation provides data needed to create and track critical process safety indicators.
After this webinar you will be able to:
- Recognize how effective process safety management business practices are a critical component of an overall Operational Excellence strategy.
- Understand how you can influence high impact business decisions and protect the value of your company.
- Leverage examples of how a major oil & gas company realized gains in operational excellence by enabling business process workflows needed to comply with API 14C for its offshore safety systems.
*Source: How Does the Stock Market Respond to Chemical Disasters? Gunther Capelle-Blancardy and Marie-Aude Lagunaz, June 2009
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