The Shift to Dynamic and Simulated Risk: 2020 Survey Report

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Since the 2019 Process Safety Management (PSM) and Operational Risk Management (ORM) Survey reports were published, all of us have experienced unprecedented change as a result of the COVID-19 pandemic and the fluctuation in oil and commodity pricing, which has impacted operating margins. Yet these changes have done little to alter the ongoing safety and risk management needs that still require attention in all industries.

The 2020 report suggests one way to prevent the risks associated with increased MAHs is to turn toward technological solutions. Ninety-one percent of respondents said that technology has made companies and their workers safer, up from 80% last year. The survey results point to how digitalization technologies, in the form of dynamic and simulated risk, are important to help overcome many safety and risk challenges.

 

Click here to read the full report.

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