|
A 2008 study found that 58% of all companies surveyed had experienced high-risk incidents in the last three years, in some cases causing a financial impact of up to $1.5 billion USD. Because of this overwhelming financial, environmental, and human impact, the use of hazard analyses and risk assessments to identify potential hazards and mitigate their potential risks has become a standard operating procedure within manufacturing industries for both non-discretionary and discretionary reasons. Non-discretionary reasons include requirements as defined by the Occupational Safety Health Administration (OSHA), Environmental Protection Agency (EPA), Health and Safety Executive (HSE), and other governmental groups around the world. Discretionary reasons include avoidance of lost production and increased maintenance costs, both resulting in reduced profitability. While a variety of methods are available for risk assessment, the success of these methods has been limited by the lack of a shared, singular definition of risk providing for easy comparison of data between these varying analysis methods. Click here to download Balancing Risk Assessments to Improve Safety Decisions for: - An overview of multiple risk assessment methods including Hazards and Operability Analysis (HAZOP), Safety Integrity Level (SIL) analysis, Reliability Centered Maintenance (RCM) and Risk Based Inspections (RBI).
- Case studies demonstrating how the ability to assign a singular definition for risk ranking and the integration of these various analytical processes can improve safety, as well as save time and money.
Follow us on:
  
|
