Operational Risk Management

The Future Is Now: Operational Risk Management Digital Twins in Practice

An Operational Risk Management Digital Twin can help connect previously disparate business processes in ways that just haven’t been possible until now.

The Sphera Story: A Double-Digit Number of Deals Decided Our Past, Developed Our Future, Part Three

Cheat Sheet Genstar Capital acquired IHS Markit’s Operational Excellence and Risk Management (OERM) business in 2016 and Sphera Solutions was born. Since 2017, Sphera has acquired four companies: Rivo Software, sparesFinder, Petrotechnics and SiteHawk. Sphera has a long, storied and sometimes complicated history. To help explain our origin story, we’ve compiled some highlights from all

Sphera Launches Operational Risk Management Maturity Model Self-Assessment Tool

Industry 4.0—and, of course, Integrated Risk Management (IRM) 4.0—requires organizations to drive accountability and decision-making with data, have visibility into risk and offer the ability to connect people, processes and technology to enable organizations to adapt to changing business needs over time. For decades, asset leaders across the hazardous industries have used a range of

Operational Risk Management Maturity Model Self-Assessment Tool

Sphera helps businesses improve decision-making and performance with an integrated view of their unique risk portfolio. For decades, asset leaders across the hazardous industries have used a range of systems to manage maintenance and operational processes and control risks. Today, industry leaders with digital vision are reassessing their use of systems to improve processes, boost

Many Happy ‘Returns’: Sphera Launches New ROI Calculator for Operational Risk Management

Having difficulty measuring Operational Risk ROI? OK, let us give it a try … A little background on return on investment first: In his 1936 book titled “The General Theory of Employment, Interest and Money,” famed British economist John Maynard Keynes wrote: “The social object of skilled investment should be to defeat the dark forces

Operational Risk Management ROI Calculator

Sphera’s Operational Risk Management (ORM) keeps loads more people safe while balancing productivity against risk. While the annual ROI of the software solution can be measured in wrench time efficiency and asset uptime improvements, many safety gains can also be experienced as a result of the potential to reduce LTIs (lost time injuries), leaks, emissions, near-misses, incidents and more. Plug in your basic site data and see the savings your company could experience as a result of ORM’s ability to,

Inspire Barcelona Brings Great Food, Great Times and Great Learning

With the Balearic Sea to the east and the Montserrat mountain range to the northwest, you know you’ve landed somewhere special—and inspiring—when you fly into Barcelona, Spain. And creating a thought-provoking atmosphere is what the Sphera inspire user conference is all about. On June 3, before Sphera’s largest EMEA conference ever officially got underway, attendees

With Incidents, History Can, Will Repeat Itself Without Right Information at Hand

I previously published a post about aging assets. I used the scenario of riding a bike to highlight the different stages of risk appetite as our assets mature. (In this example, I was the “asset.”) Last summer, I fell off my bike (maybe I tempted fate!) when I was coming down an off-road section of

Digital Twins: The Next Big Thing in Operational Risk Management

The hazardous industries are abuzz with the latest Industry 4.0 trend: the Digital Twin. From its potential to virtually simulate the performance of facilities and processes without directly affecting the real object, process industry operators are implementing or piloting solutions in droves. According to LNS Research, 48% of companies in the Oil & Gas industry,

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