Digital Technologies Close The Gap Between Assets And Workers To Enable Real-Time Risk Management

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Executive Summary

This report provides operations, safety and risk managers with insight for incorporating digital technologies to enhance real-time risk management. The majority of accidents and incidents that occur involve assets and workers. Digital technologies such as industrial wearables, digital twins, control of work software and asset performance management software enable closer cooperation between EHS and operations, present new methods to decrease SIFs and introduce innovative solutions into the hierarchy of controls by combining data on worker activities, location and health with asset condition data for integrated risk management. Digital technologies combine insights about the condition or health of an asset with worker information to manage and mitigate risks in real-time.
 

Table of contents

Digital Technologies Enable Operations And Safety Collaboration For Risk Management  
The Majority Of Serious Incidents Involve The Interplay Of Assets And Workers
Digital Technologies Provide A New Perspective On Risk Management
Buyers Should Consider The Following Categories Of Technologies For Integrated Risk Management
Connecting Up Digital Technologies Will Create An Integrated Risk Management Proposition

Table of figures

Figure 1. Accidents Involve The Interplay Of Assets And Workers 
Figure 2. OSHA’s PSM Standard Covers Asset Integrity, Worker Safety And Operational Risk Management 

About the authors

Malavika Tohani

Research Director

Malavika leads the Verdantix Operational Excellence practice. Her current research agenda focuses on the digitization of Operational Excellence and covers operational risk technologies, best practices and growth strategies. Her recent research focussed on benchmarking the capabilities of the prominent operational risk software vendors. She has over 10 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.

Rodolphe d’Arjuzon

Managing Director & Global Head of Research

Rodolphe co-founded Verdantix in 2008 and directs the firm’s research strategy across all practice areas. He also leads the Environment, Health & Safety practice on an interim basis. Rodolphe has over twenty years of experience in technology research and strategy consulting. He previously worked for Barclays Bank and L.E.K. Consulting. Rodolphe holds a PhD in Physics from Cambridge University.

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