Pilko & Associates News and Events
Browse our latest, newest Grey Paper or “Did You Know”, bringing information and insights, and events where you can learn more on how to increase control of operational, EHS, and transaction risk.
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NEW GREY PAPER: LEADERSHIP PART THREE
LEADERSHIP PART THREE: Integrating Key Performance and Key Predictive Indicators for Risk Control
You live in a high risk world. You want to increase control of Operational and EHS Risk where possible, but ...
Are Key Performance Indicators Enough?
Part Three of our four-part Leadership Series addresses the importance of key performance indicators, often called KPIs from two perspectives - from an historical point of view, and then from the perspective of looking forward using key predictive indicators. As two sides of the same coin, each contributes to increased Operational and EHS Risk control.
Great leaders help organizations see risk differently than in the past, creating better future outcomes. The role of every leader, at all levels and times, is to "Challenge the Green and Support the Red" - encouraging employees and contractors to highlight, prioritize and control real issues and risks. In more than 35 years of working with energy and chemical boards and corporate officers, we've discovered that most companies have an incomplete view of risk and often don't know how to increase control over that risk. While many use key performance indicators as a historical view to performance, with some even having implemented sophisticated risk registers, very few understand the concept of key predictive indicators, let alone their application.
Pilko & Associates brings you this important Grey Paper, in which you'll discover the appropriate use of both types of KPIs through:
- Discovering the difference between key performance and key predictive indicators
- Understanding blind spots and consequences
- Blending performance and predictive indicators for a complete risk view
- Introducing five steps to move forward in implementing and integrating both KPI types
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Pilko & Associates “Did You Know”
JULY 2017: THE IMPORTANCE OF A RISK CONTROL CULTURE
Today the subject of “risk culture” and the role that a lack of risk culture played in the financial meltdown in 2007/8 is a heavily discussed topic. Having a culture that understands risk and makes the right decisions at all levels in the organization is critically important to Operational Risks such as fires, explosions, leaks and spills, and fatalities. Publications by Andrew Hopkins on the Texas City Refinery explosion and the Macondo well blowout, as well as Chemical Safety Board disaster reports, all agree that the ability of an organization to learn from their and others’ mistakes to improve risk control is one of the keys to prevention.
Organizations that don’t have a culture of learning from mistakes – or learning from information and expertise at the front line – increase enterprise risk. At the same time, rank-and-file employees often have greater insight into potential risks than senior leaders, who are far removed from most Operational Risks due to the nature of their positions.
What is your risk control culture? And how open, transparent and honest is your organization in the identification, analysis and mitigation of risk? The future of your people, your shareholder value and your business is at stake.
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Global advisors to chemical and energy companies on Operational and EHS risk control for acquisitions, mergers, joint ventures and divestitures.
Our global footprint includes advisors in 32 countries across six continents. We continue to grow our global presence to be where you need us to be.
We have hosted 59 invitation-only Transactions Roundtables in Asia, Europe and North America since 2001.
PILKO & ASSOCIATES
Bringing operations, EHS, and transactions risk control to corporate officers and boards in the energy and chemicals industry.