Solutions by area of excellence:
Operational Risk Management
Operational Risk Management (ORM) is the process by which organizations assess risk, make risk decisions, and implement risk controls to mitigate, remove, or avoid the hazards inherent to their processes.
All organizations experience and need to manage operational risk but the need for ORM is most keenly felt in industries where dangers to people, infrastructure, equipment, and the environment are prevalent. This includes upstream, downstream, and midstream Oil & Gas, chemical, and manufacturing industries.
In addition to being better able to protect life and limb, organizations that excel at Operational Risk Management experience reduced operating losses, lower auditing costs, earlier detection of unlawful activities, and reduced exposure to future risks.
The four principles of ORM are:
Accept risk when benefits outweigh the cost.
Accept no unnecessary risk.
Anticipate and manage risk by planning.
Make risk decisions at the right level.
VisiumKMS provides a comprehensive tool set to help organizations execute these principles, successfully manage risk, and therefore protect the well-being of their employees, operations, and communities. Whether using the application’s pre-built, best-in-class workflows or those you define for your organization’s needs, VisiumKMS provides the means by which you can assess, take action on, and then communicate risk throughout your operation.
VisiumKMS contains all risk assessment and recommendation tracking tools in one integrated application. Actions can be assigned to different personnel throughout your risk management workflows without the need to transfer files or log into separate systems.
Use Your Own Risk Definitions
No one knows your operations and the risks inherent to them better than you do. Apply and then act upon your own version of Risk Matrix and define your own risk categories, both of which can be specified differently at individual locations.
Make Risk Decisions at the Right Level
Through flexible site-configurable settings, VisiumKMS enables your organization to identify, rank, and enact control measures for hazards at the appropriate level on a per-location basis. VisiumKMS helps to ensure the right people do the right thing at the right time.
Automatic, Hazard-Specific Checklists
VisiumKMS workflows automatically provide the checklists and recommended actions needed to mitigate risk based on the hazards you identify during risk assessment. Your organization can also accelerate the risk mitigation process by pre-defining to whom those assignments are given.
User-Friendly Hazards Identification and Analysis Tool
The VisiumKMS risk assessment tool provides never-before-seen flexibility by supporting user-definable HAZOP, What If, and Job Safety Analysis (JSA) checklists.
Compare Risk Before and After Controls are Implemented
VisiumKMS clearly identifies which recommended actions have the most impact by showing “As-Is Risk” compared to the “To-Be Risk” levels following mitigation on a per-scenario basis.
Normal or Emergency Management of Change Workflows
The VisiumKMS Management of Change (MOC) workflow facilitates In Depth and Deliberate risk management activities while the Emergency MOC workflow accomplishes Time Critical actions.
Communicate Risk Throughout the Organization
VisiumKMS offers a powerful combination of the Risk Intelligence module, advanced database search options, and ad hoc reports which facilitate communicating risk levels and mitigation efforts to management and local teams.
Record, analyze, and share lessons learned from near-misses, actual incidents, or other unwanted events.
Conduct Process Hazard Analysis (PHA) using recognized standard methods, managing all recommendations to closure in one system.
Identify trends and focus on issues by drilling down to specific data points from across the suite of VisiumKMS modules.