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Survey Insight: Digitisation Of Information Management Systems Drives The Use Of Commercial Barrier Risk Management Tools

Many of the world’s worst industrial accidents have been caused by the interaction of multiple hazards caused by equipment failures and flawed human decision making. Barrier management software has been designed to bring information about hazards together to monitor the effectiveness of different risk controls given interdependent hazards. The value of barrier management software has been taken on board by operations managers. In the Verdantix survey of 221 operations managers at industrial assets, 39% stated that they use commercial software for barrier management from vendors such as eVisionPetrotechnics and RiskPoynt. A further 45% use in-house software or an in-house database. Only 7% are continuing to struggle without any software for barrier management.

Due to the influx of data due to IIoT, wearables and equipment attached sensors firms need analyse large quantities of data to develop a comprehensive view of operational risk. The emerging importance of IT integration across systems (67% rank it as ‘very significant’ or ‘significant’ for ORM initiatives by 2020), suggests that customers are using software to integrate data from sources such as maintenance management system (MMS), SCADA and process historians.

For vendors that offer strong barrier management functionalities, such as those previously mentioned, enable a strategic approach to operational risk management that is strongly aligned with customer needs.

Verdantix OperationalRisk WhichOfTheFollowingInformationManagementToolsIfAnyDoesYourFirmUseToManageBarrierManagement 01