Operational Risk Management – Drilling Risk and Safety: Overview Video

Learn how SAP and SAP BusinessObjects solutions are helping customers in process manufacturing and the oil and gas industry to better manage operation risk. This video shows how SAP customers can use analytics to detect, diagnose, and direct operational risk management.

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    • Operational risk management: Providing visibility to prevent incidents and improve process safety. The tragic oil spill off the Gulf of Mexico has led oil and gas companies to refocus their strategies to manage operational risk and safety. The first step in this journey is to keep all stakeholders informed through visibility of key risk metrics. This means giving them the ability to measure, monitor, and diagnose key performance indicators – KPIs – to get a 360 degree view, not only of costs and compliance, but also of asset utilization environment, health, and safety; and critical exception performance metrics. But accessing the right data and using it to promote operational risk management isn’t easy. Your key stakeholders at refineries, pipelines, and oil rigs may have no way to see timely, relevant information about equipment maintenance and utilization. They may lack the means to track asset performance and evaluate risk factors to avoid unfortunate incidents. And, they may be unable to manage exception-based alerting or detailed analyses to avert − or respond to − accidental mishaps and near misses. Failure to avoid these hazards can cost billions of dollars and result in fines, penalties, lost assets, environmental damage – and even injury and loss of life. But SAP software can help. SAP offers a portfolio of business solutions that support ERP, asset and risk management, analytics, health and safety, financial management, compliance, and much more. The software features intuitive dashboards, so people in key roles can access the targeted operational information they need, when they need it. With visibility into asset utilization, and health and safety issues, you have the insight you need to make critical decisions and take action to optimize operations and reduce risk. The software helps you see key operational data, including utilization across operations at oil rigs, pipelines and refineries. You can see when asset utilization is below the accepted threshold and investigate the factors leading to this condition. You can drill down below the rig level to investigate the timing and frequency of maintenance issues and downtime, and pinpoint where the problem lies, right down to exact component. And you can assess the reason for the problem – such as missed maintenance appointments – and take corrective action. The software also helps you optimize sound operating conditions for environment, health, and safety. You can track for lost-time incidents by date, location, and rig. You can see a year-to-date breakdown of incidents and evaluate the proximate cause, such as a lack of – or a failure to follow – training. With access to the right information, you can begin to address the vital factors that affect asset and workforce safety. SAP software allows you to turn data into insight, so you can turn insight into action. Keeping your stakeholders informed with visibility to the right information helps them make critical decisions to improve asset utilization and safeguard operating conditions at your company. The best-run businesses run SAP.
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