Downstream Refinery
Challenge
Data Quality, Consistency, and Prioritization
This downstream energy company has assets in petroleum refining, logistics, convenience stores, asphalt, and renewables. They were experiencing challenges with capital planning, and risk reductions resulting in increased insurance premiums. Their current situation led to the following business impacts:
- A significant backlog of action items with high-risk values
- Unknown and unchecked critical safeguards
- Risk of significant process safety incident
Challenge
Data-Enabled PHAs with Recommendation Sequencer
he refinery executed a Health Check engagement to identify the current state of their PHA effectiveness. Once complete, they leveraged industry data to establish a new baseline approach to executing PHAs and improve the quality and consistency of their PSM data. Improving data quality and leveraging the Risk Alive® Recommendation Sequencer enabled our client to realize the following benefits:
- Improved capital planning based on risk-ranked recommendations
- Savings of $200k and the prospect of reduced insurance premiums
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