By Sphera’s Editorial Team | March 13, 2020

ROI of Operational Risk Management in Oil & Gas

Building a compelling business case for an Operational Risk Management software starts with a robust calculation of the benefits and costs. This includes time spent carrying out everyday risk management tasks, the rolling average of unplanned shutdowns, current IT cost data, and prospective investment costs for a potential annual Operational Risk Management SaaS license, implementation, training and support services.

Applying industry analyst and consultant, Verdantix’s, ORM business case model demonstrates how metals & mining operators can support the capital requisition process.

Here we outline the cost-benefit ratio and ROI expected for enterprise metals and mining operators seeking to invest in ORM digital transformation to support Control of Work, Advanced Risk Assessment, Process Safety Barrier Management, and more.

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