Software Benchmark: Process Safety Management
Rachel Umunna
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Executive Summary
Whilst some firms invest in software to cover a multitude of industrial risk management usage scenarios, other buyers are primarily interested in digitizing their approach to process safety management (PSM). To help buyers with a PSM focus, this software benchmark provides a detailed analysis of functionality used to meet process safety management objectives as defined by OSHA and other regulatory agencies. The analysis covers capabilities available from 17 software vendors for compliance audits, emergency response, incident management, management of change, mechanical integrity, pre-start-up safety reviews and process hazard analysis. The report finds that three environment, health and safety software vendors - Enablon, Sphera and Cority - have the broadest and deepest PSM functionality. To put in place comprehensive, digitized industrial risk management frameworks, buyers should involve safety and operations in PSM software purchase decisions and develop an information architecture which includes asset reliability and barrier management.Four Factors Drive Buyers To Focus On A Subset Of Operational Risk Usage Scenarios
Assessment Criteria For Process Safety Management Software
Strong Process Safety Management Functionality Is Only Offered By A Handful Of Vendors
Investments In PSM Software Should Reflect Organizational Structure And Existing IT Systems
Figure 2. Process Safety Management Software Functionality Scores
Figure 3. Process Safety Management Software Percentage Of Maximum Potential Score
About the Author
Rachel Umunna
Analyst
Rachel is a technology analyst in the Verdantix Operational Excellence Practice. Her research agenda explores the value of technologies for investors, service providers a...
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