Whether driven by regulatory, operational or a company’s financial goals, operational safety is a complex and challenging process for any organization. When you use the United States Occupational Safety and Health Administration regulations (OSHA 29 CFR 1910.1.119) as a reference guideline for process safety management (PSM), it becomes easier to understand how challenging it is for any industrial company to develop, implement, track and manage the individual elements of the PSM regulations, much less all of the elements together. By applying advanced information management techniques such as predictive analytics, companies can manage process safety as an integrated and holistic continuum rather than as a series of individual programs allowing them to more accurately prevent the occurrence of undesirable events due to unforeseen or abnormal conditions while predicting future trends and outcomes. This approach results in a more robust risk management process for the company as a whole.
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