Risk Management

The main objectives of our Risk Management Team are to minimize to likelihood of favorable outcomes, and to minimize the likelihood of unfavorable outcomes.

The favorable outcomes include safe and reliable operation, high availability of plant or operating site, environmentally sound performance and minimal equipment damage.
Much of our efforts focus on identification and minimization of the potential for undesirable outcomes or incidents, the processes used to are identical to those used to improve and maximize performance

  • HAZID (hazard identification)
  • HAZOP (hazard and operability)
  • FMEA (failure mode and effects)

HAZID

The Hazard Identification (HAZID) is a high level review of potential hazards, based on checklists. Prism Consultants “HAZCHEK” proprietary checklists have been developed after years of experience and cover facility siting, human factors and best engineering practices. HAZID is the first and essential step in primary risk assessment for a new or existing plant.

HAZOP

Hazard and Operability (HAZOP) study for continuous or batch processes, or procedural operations is an excellent tool to identify potential hazards and operability issues and recommending preventive actions.

PPG expertise conducts HAZOP studies in the role of HAZOP leader and ensures that the HAZOP study identifies the following

  • Hazards associated with process like temperature, pressure, liquid level, source of ignition
  • Hazards associated with operations like movements, lifts, falls, potential energy
  • The identification of any previous incident which had a likely potential for catastrophic consequences in the workplace
  • Hazards related to inspection, maintenance and accessibility
  • Engineering and administrative controls
  • Safety and health effects of failure of controls on employees in the workplace

FMEA

Failure mode and effects analysis (FMEA) is one of the first systematic techniques for failure analysis and the first step of a system reliability study. It involves reviewing as many components, assemblies, and subsystems as possible to identify failure modes, and their causes and effects. For each component, the failure modes and their resulting effects on the rest of the system are recorded in a specific FMEA workshee

Types of FMEA analyses

  • Functional
  • Design
  • Process FMEA

FMEA is applied for reliability engineering, safety engineering and quality engineering.
A successful FMEA activity helps to identify potential failure modes based on experience with similar products and processes – or based on common physics of failure logic. It is widely used in development and manufacturing industries in various phases of the product life cycle.
Effects analysis refers to studying the consequences of those failures on different system levels.

Petroleum  Palace   Group strives to address the broad spectrum of its customers’ needs. Contact us for your inquiries.