Companies Leave Themselves Exposed To Major Accident Hazard Risk

Nov. 22, 2019
Sphera releases results of its annual process safety management/operational risk management survey.

Sphera, global provider of integrated risk management (IRM) software and information services, releases part two of its annual process safety management/operational risk management survey.

Part one, released in August, (see: "Process Safety Demands Perseverance") identified executive-level priority for their organizations, but revealed that they admit to not doing enough to proactively manage process safety consistently. Eighty-four percent of industry leaders surveyed said they believe that safety is part of corporate value structures and supported by senior management. Part two reportedly showed digitalization has become the new norm, but despite good intentions, improvements in industry regulation and investment in technology, these risks are only addressed if systems are integrated to produce a holistic view of a company’s risk profile.

In line with last year’s responses, only 40% agree that organizations proactively manage process safety, while 73% say companies are not actively managing risk or driving PSM through the planning process. Perhaps most surprisingly, respondents revealed that, on average, only 66% of monthly safety-critical maintenance is achieved and only one-quarter (23%) believe that full plan attainment is possible.

“If companies routinely only complete two-thirds of their planned safety-critical tasks, companies leave themselves exposed to risk,” says Simon Jones, Sphera’s director of the digital solutions group for operational risk. “Planning and scheduling rarely takes into account the full risk picture for asset health and associated maintenance activities. To increase attainment and deliver safe outcomes, companies need to get smarter in the way they manage and maintain the critical barriers and safeguards on their assets.”

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