The Emergence of Operational Risk Management Digital Twins

Modern hazardous industries face the challenge of routinely connecting risk to the operational reality. While process safety methods and techniques developed over the years have improved the design of our facilities, many industry operators do not provide systems and solutions for maintenance and operations – where decisions continuously take place that impact well-designed process safety barriers and increase exposure to Major Accident Hazard (MAH) risk.

There is a perceptible shift in the hazardous industries with connected systems changing how risk and process safety are measured and managed. Industry leaders report the adoption of advanced technologies – such as IIoT platforms, digital twins, predictive analytics, and mobile workforce applications – for managing process safety and operational risk will increase significantly in the future.

Operational Risk Management (ORM) Digital Twins offer the potential to make companies and their work teams safer through their ability to deliver an enterprise-wide understanding of how planned work activities impact process safety barrier and equipment health. This early warning system makes all risk exposure visible, prominent and available to all in real-time, reducing vulnerability to high-potential near-misses and major hazard events.

This whitepaper sets out the principles of this new approach and includes case studies sharing how two major operators are using ORM Digital Twin software to deliver a real-time view of process safety barrier health to the frontline to support more effective hazard management.

Download the report.

Circles-1 (1)
R 030 The Emergence of Operational Risk Management Digital Twins

Latest insights from Sphera

Filter

How to prepare for the unexpected: Looming threats in a connected world

Unrecognized risks in your supply chain

In today’s globalized economy, a well-oiled supply chain is the lifeblood of any business. But what happens when…
July 9, 2024
Mountain bikers ride along grassy mountain ridge

Schwalbe: Driving change in the bicycle industry

Schwalbe Tires is a sustainability trailblazer. The German-based company uses Sphera LCA for Experts to calculate the CO2…
June 27, 2024
Beautiful green algae on the lake in spring, aerial view

A message from Paul Marushka, CEO – June 2024

At Sphera, the month of June brings our anniversary as well as our annual Safety and Sustainability Day.…
June 26, 2024