Risk Matters: 8 Reasons Why Risk Discovery Should Be Your Top Priority

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When you finish a risk assessment like a Process Hazards Analysis (PHA), how do you measure your success? Did you get hot lunches or was it the dreaded corporate sandwich plate? Obviously, the meals provided aren’t the best measure, so what is? How good you feel about the work? How many scenarios you created? If you finished early or on time?

These are the Key Performance Indicators (KPIs) that many people use to gauge the success or failure of a PHA – not the sandwich one, that was just a joke. Do we feel good about it? Did we generate a large report? Did we finish on time and on budget? How many recommendations were created (hopefully not too many)? These KPIs fail to measure the true success of a PHA which is ‘Did we find all the risks and mitigate them adequately?’ At Risk Alive Analytics, we call that Risk Discovery.

Everyone in a risk assessment, such as a PHA, does their best to…

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Using analytics and industry data to ensure critical threats are addressed gives you and all stakeholders peace of mind knowing that all critical threats are being managed. Risk Alive® holds the world’s largest collection of PHA and risk data and has the advanced tools and technology to analyze it effectively and efficiently.

You can now access huge collections of data for facilities of all types, from refineries to gas plants, and fertilizer production to French fry factories to identify common threats, mitigations and the best strategies to protect your investments.