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Petrotechnics unveils predictive risk platform

Houston, April 30, 2012

Leading operational performance risk management company, Petrotechnics, has launched ‘Proscient’, an operational performance and predictive risk software platform.

It provides senior management in hazardous industries the ability to reduce risk, optimise performance and drive continuous improvement across their global operations, a statement from Petrotechnics said.

The biggest operational risk occurs when people interact with the plant. This interaction is the leading cause of HiPo’s, the second leading cause of fatalities and a significant contributing factor in process safety incidents, the statement said.

Organisations typically have rigorous corporate processes for process safety, occupational safety and people management, with systems and data that provide indicators and close the assurance loop. However, when thousands of people interact with the plant every day to do repair or maintenance work, there are limited or no systems and often only paper-based processes. 

This leaves a large gap in the assurance loop with no feedback on performance. In this critical area organisations can only judge performance after the event, that is with lagging indicators and audit.

Recognising this critical gap in operational assurance, Proscient closes the loop in the riskiest part of operations, it said. The system intelligently embeds corporate, regional and local policies and processes ensuring they are consistently delivered in frontline practice. This provides senior management with insight and oversight over their global frontline operations.

The system captures data as part of routine work processes such as type of work, volume of work, interaction of work and associated human factors. Common metrics can be established across operations to provide a common indicator of the operational risk associated with the work being performed.

For the first time the organisation has a common means of understanding the relationship between delivering performance and operational risk, the statement said. This data captured is then turned into meaningful insight providing clarity and confidence to improve decision making.  

Phil Murray, chief executive officer at Petrotechnics, said: “Our new product is designed to provide senior management with the tools to not only address the way operations are set up across the enterprise, but to ensure and vastly improve upon how the work is executed on a day-to-day basis while providing the means to measure performance.”

“It is the ideal platform for organisations to further embed a culture of continuous improvement within their operations.” 

“Our system turns data captured as a part of routine working into operational intelligence for decision makers across the organisation,” said Murray. “For the first time, operational leaders can start to understand the relationship between performance and risk and proactively manage the organisation to a less risky and more optimised performance.” – TradeArabia News Service




Tags: US | Houston | Petrotechnics | Proscient | Predictive Risk Software Platform |

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