This technical briefing is offered for public live-streamed delivery. It is also available for in-house live-streamed delivery.

Description

PHA studies contain so much data that manual review of the results cannot extract all the insights that the data can provide. However, data analytics can be used to provide valuable information that would otherwise not be available. The management of safety, operability, reliability, utilization, and loss prevention can all be improved.

Rather than managing process risks by focusing decision making only on the risks of individual hazard scenarios, as is common practice, analytics enable a deeper analysis of the entire set of scenarios for a process. This enables better decisions to be made on where and how risk reduction resources should be allocated. For example, analytics can be used to identify high risk process areas, provide granularity on the sources of risks, and show the relative importance of individual safeguards. These analytics enable more attention to be paid to those aspects of the process that are most important for risk reduction.

The information contained in PHA studies usually is developed by a company’s most experienced personnel and its generation requires a substantial investment of time and resources. Analytics can be used to maximize the return on this investment.

This technical briefing provides guidance on using data analytics and provides a variety of examples. Attendees receive an electronic copy of the technical briefing materials.

What you will learn:

• Meaning of analytics
• Types of analytics
• Benefits provided by analytics
• Uses of analytics
• Strategy for using analytics in PHA

Duration

3 hours