Improving Industrial Safety: Tech For Real-Time Risk Controls

Published 29 July 2019 by Malavika Tohani & David Metcalfe &
Operational Excellence Operational Risk Management Software Real-Time Risk Management Strategic Focus

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Executive Summary

This report forms one in a series covering technologies which enhance operational risk management for industrial assets. Safety executives, reliability engineers and plant managers all face the same operational risks but apply different approaches to mitigating those risks. All these different stakeholders can benefit from the use of new technologies that control risks in real-time. Technology innovations such as sensors, wearables, digital twin simulations of industrial facilities, barrier risk management software and mobile apps provide real-time information about what could go wrong, what is about to go wrong or what has gone wrong, enabling executives at industrial facilities to proactively manage and mitigate risks.

Table of contents

Improving Industrial Safety: Tech For Real-Time Risk Controls
Many Industrial Accidents Could Be Avoided With Real-Time Risk Information   
Managers At Industrial Facilities Can Tap New Technologies For Real-Time Risk Management

Organisations mentioned

Akselos, British Airways, China National Petroleum Corporation, Cisco, Cortexica, DAQRI, Duke Energy, Essar Oil, eVision, Fluke Corporation, Guardian24, Health and Safety Executive, Lloyd’s Register, Lumus, Marathon Oil, Occupational Safety and Health Administration, Petrotechnics, RealWear, RiskPoynt, Royal Dutch Shell, Royal Mail, SaferMe, SAI Global, Samsung, Seebo, Sphera, StaySafe, TE Connectivity, Texas Instruments, Vale, Vault Intelligence, Wolters Kluwer, Yokogawa.

About the authors

Malavika Tohani

Principal Analyst

Malavika is a Principal Analyst in the Verdantix Operational Excellence practice. Her current research agenda focuses on covering 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.

David Metcalfe

CEO

David co-founded Verdantix in 2008 and leads the firm’s research and advisory work on the digitization of Operational Excellence which covers software, systems integration, wearables and drones. Prior to founding Verdantix, David was a Senior Vice President at Forrester Research and Head of Analysis and Forecasting for BT. He holds a PhD from Cambridge University in Game Theory and Decision Analysis and worked as a Research Associate at the Harvard Business School.

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