Energy and chemical companies face outsized risk due to operational safety hazards, regulation, governance and compliance leading to financial and reputational consequences due to unforeseen incidents.
Effective leaders recognize these challenges and work hard to mitigate risk through quantitative programs that result in incremental risk management.
Today, everything has changed. Incremental risk management isn’t good enough. Increased risk mitigation is required to reduce financial, reputational, project, asset and environmental failure. Incremental risk management has been replaced with broad-scale risk mitigation efforts that directly address two distinct risk types: hard (quantitative) and soft (qualitative) risk.
Industry leaders demand a 360º view of hard and soft risk identification, validation, prioritization, and mitigation leading to substantial reduction or elimination of blind spots. Leading energy and chemical companies require the right optics, response mechanisms, progress measures and reporting that deliver accelerated success in mitigating risk exposure.