Process Hazard Analysis - Foundation for Managing Operational Risks

Despite the advances in processing technologies, construction techniques, inspection methods, and materials, the number of process safety incidents are still increasing, and often the same types of incidents are being repeated. While regulators are enforcing stringent requirements in regards to safety management systems, process safety incident statistics reflect a failure in effective implementation. Upon closer look at the implementation of safety management systems, it becomes evident that the systems were not built on robust risk recognition. The risk-based implementation approach enables facilities to develop systems focused on managing specific risks and quickly gain momentum and confidence to take next steps towards implementing comprehensive systems. This paper will cover the importance of risk recognition and governance, risk based implementation and the role of Process Hazard Analysis in managing operational risks through the lifecycle.