Tech Roadmap For Operational Risk Technologies

Published 1 May 2018 by Malavika Tohani

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Executive Summary

This Tech Roadmap report clarifies the business value, pace of innovation and maturity of 21 operational risk technologies. Verdantix conducted a fact-based assessment of the maturity, investment case, future prospects and business value of each solution. Operations, facilities and EHS managers responsible for selecting technologies to support processes, systems and objectives should use this report to identify the technologies which can add value to their operations. This Tech Roadmap report covers software, personal protective equipment and digital devices. Technology categories covered include digital twin, digital wearables, augmented reality, dynamic barrier risk management software, quantitative and qualitative risk assessment software, incident management software, process safety management software, job hazard analysis software, inspection drones, mobile risk apps, competency management systems, operational risk software platform, asset integrity management software, predictive analytics, remote monitoring and management and process historians.

Table of contents

Introducing Tech Roadmap Analysis
Key Questions Answered By Tech Roadmap Analysis
Tech Roadmap Analysis Aligns Investments With Regulatory Compliance, Safety and Risk 

Tech Roadmap For Operational Risk Technologies
Defining The Market For Operational Risk Technologies

Methodology Overview           
Five Market Phases Segment Solution Maturity
Three Solution Life Cycles Differentiate Business Value
Solution Adoption And Success Influence Positioning
Pace Of Innovation Determines Time To Next Phase In The Life Cycle
Investment Decisions: How To Use The Tech Roadmap Analysis
Portfolio Management: How To Use The Tech Roadmap Analysis

Phase 1. Research And Development                       
No Technology Identified

Phase 2. Launch
2.1 Contractor Risk Management Software 
2.2 Digital Twin
2.3 Operational Risk Software Platform 
2.4 Digital Wearables 
2.5 Augmented Reality 
2.6 Dynamic Barrier Risk Management Software 
2.7 Predictive Analytics

Phase 3. Growth
3.1 Inspection Drones
3.2 Competency Management Systems
3.3 Permit To Work Software 
3.4 Risk Mobile Apps 
3.5 Quantitative Risk Assessment Software
3.6 Management Of Change Software 
3.7 Qualitative Risk Assessment Software 
3.8 Process Safety Management Software 
3.9 Job Hazard Analysis Software 
3.10 Incident Management Software 

Phase 4. Maturity
4.1 Remote Monitoring And Management 
4.2 Asset Integrity Management Software 
4.3 Process Historian 
4.4 Excel For Risk Analysis 

Phase 5. Decline
No Technology Identified

Table of figures

Figure 1. Tech Roadmap For Operational Risk Technologies

Organisations mentioned

360factors, ABB, ABS Group, Achilles, Across Safety Development, Acumen Mobile, Adapt IT, Advanced Aerial Services, Aerialtronics, Aerobo, Aeronavics, AeroVironment, Aeryon Labs, AGL Energy, Airobotics, Airsweb, Airware, Aker Solutions, Alliant Corporation, Alpha Industrial Drones, Amber Technical Solutions, AngloGold Ashanti, APM Terminals, APSM, ASK-EHS, AspenTech, AssessNET, Asset Integrity Engineering (AIE), AssurX, AT&T, Atheer, Avetics, Avetta, Avilar, Ayata, BAE Systems, Barnwood Group, BasicSafe, BARTEC, BASF, Beakon, BG Group, BHP Billiton, Blackline Safety, BP, Business Safety Systems, C3 IoT, Capstone RBMI, CGE Risk Management, Chevron Phillips, Cm3, CMB Engineering, Cognisco, Coreworx, Cority, COWI, Credosoft, Cresent, Cummins Inc, Cummins Rocky Mountain, Cyberhawk, Dakota Software, DAQRI, Dassault Systèmes, Dataiku, DEKRA Insight, Delair-Tech, Deloitte, Delta Drone, Diota, DJI, DNV GL, dorsaVi, Dow Chemical Company, Draganfly, Dresser-Rand, DroneBase, DroneDeploy, Drones on Demand, DroneView Technologies, Duke Energy, Du Pont Sustainable Solutions, E2G RBI, EasyM2M, EcoIntense, eCompliance, ecom instruments, Effective Software, EMEX, Encana, Enablon, Engica, ENGIE, Enviance, Epson, Equity Engineering Group, Equivital, ERA Environmental, EtQ, EU-OSHA, eVision, Extronics, Exxon Mobil, Falkonry, Fatigue Science, Fitbit, Flyability, Frontline Data Solutions, Garmin, GE, GEMsoft7, Gensuite, Globe Manufacturing, Go-ARC, Google Glass, GPP-Digi, HAMS-GPS, Hands HQ, Health and Safety Executive (HSE), Heddoko, Hellios, Hexoskin, HMS Industrial Networks AB, Honeywell, Huntsman Corporation, IBM, Iconics, Ideagen, IFS, IMCI Technologies, IndustrySafe, Industrial SkyWorks, InfluxData, Insitu, Instancy, Integrum, Intel, Intelex, Intertek, ioMosaic, iProcess, IQ Integrity, ISNetworld, IsoMetrix, j5 International, Johnson Controls, JSABuilder, Isograph, ITEM Software, kanepi, Kespry, Kinetic, Laster Technologies, Lexonis, LifeTech Engineering Ltd, Lloyd’s Register, Logical Safety, Ludic Group, M2M Data Corporation, Maersk Oil, Magellan Midstream Partners, Mangan Software Solutions, Measure, Meta Software, Metegrity, MetricStream, Microdrones, Microsoft HoloLens, Mobexx, MYZONE, NASA, NeoSystems, Network Rail, NiSoft, NordSafety, Occupational Safety and Health Administration (OSHA), ODG, OneFile, Operational Sustainability, Opito, Optalert, Optech4D, Optial, Optinvent, Oracle, Origami Risk, OSHENS, OSIsoft, Panintelligence, Parrot, Petrotechnics, PG&E, Pisys, PrecisionHawk, Predictive Solutions, Primatech, ProcessMAP, ProntoForms, PSI, Quantum Compliance, Rail Safety and Standards Board, RAP International, Rapid Global Software, Reactec, RealWear, Recon Instruments, RectrixAS, Redpoint Positioning, Resolver, Rio Tinto, Riskan, Risk Assessor, Riskonnect, RiskPoynt, Rockwell Automation, Rolls-Royce, ROSEN Group, Royal Dutch Shell, Safety Changer, SafetyCulture, SafeFlight, SafetyStratus, Safe Work Australia, Sage Technology, SAI Global, SAP, Schneider Electric, Scope AR, Scottish Hydro Electric Transmission, SEMPCheck, senseFly, SenseGrow, Senseye, Sentera, Sentrico, Shell, SHE Software, Siemens, Skeye, Sky-Futures, SkySpecs, SkyX, SmartCap, SolarWinds MSP, Soter Analytics, SPECTAIR, Spence Software, Sphera Solutions, Strat Aero, S&W Technologies, SwissVBS, TalentGuard, TapRooT, Tata Consultancy Services, Taulia, Team UAV, TenForce, Terra Drone, Texo Drone, ThunderMaps, Total, Think Eleven, thyssenkrupp, TIBCO Software, TivaCloud, Triax Technologies, TNO, Trumbull Unmanned, TZOA, UL EHS Sustainability, Ultimo Software Solutions, Upskill, US Bureau of Labor Statistics, US Chemical Safety and Hazard Investigation Board (CSB), US EPA, Valarm, Vandrico Solutions, Velappity, VelocityEHS, Verse Solutions, Viper Drones, VisiumKMS, Vose Software, VTOL Technologies, Vuzix, WaveOptics, Williams Olefin Geismar, Wi-Tronix, Xciel, Yuneec, Zebra Technologies

About the author

Malavika Tohani

Principal Analyst

Malavika is a Principal Analyst at Verdantix and her work to date has focussed on understanding the innovative EHS technologies landscape and the global EHS software market. Going forward, Malavika’s research will focus on covering operational risk technologies, best practices and growth strategies. She has over 10 years’ experience in research and strategy consulting. Having previously worked at Frost & Sullivan, Malavika has managed and delivered advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.

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