Background

Developing a risk model for a railway, offshore platform, transport network or chemical process plant is a major undertaking requiring a significant investment is time, data gathering and analysis. Risk assessments and models are far too commonly completed for a specific project or to gain a license to operate and then left to gather dust.

Sotera specialises in developing risk models into tools that are readily updated and continuously used as part of ‘live’ decision making and to prioritise investment.

Developing a risk model into an assessment tool has a range of advantages and maximises the return on the investment.

What is involved?

Risk models are usually developed in specialist software that require training and a high degree of familiarity to modify.

Developing a risk model into a tool involves converting the model into a spreadsheet or web based tool with a intuitive user interface.

This means that all the relevant model parameters can be edited and updated by a wide variety of users to assess risk and explore the impact of risk reducing measures.

Sotera has developed several such tools that are and have been widely used in particular sectors, some covering specific activities and some being network wide models.

What are the benefits?

The benefits include:

  • Enabling operators and engineers in the client organisation to rapidly undertake risk assessments and explore risk reducing measures.
  • Improving the communication of risk.
  • Ensuring consistency is the application of risk assessment – everyone uses the same validated tool.
  • Minimising time and reducing costs of assessment - once developed risk assessment and optioneering can be completed rapidly.
  • Improving knowledge and understanding of risk.