(46c) Recommendations and the Broken KPI
- Conference: AIChE Spring Meeting and Global Congress on Process Safety
- Year: 2018
- Proceeding: 2018 Spring Meeting and 14th Global Congress on Process Safety
- Group: Global Congress on Process Safety
- Time: Monday, April 23, 2018 - 4:30pm-5:00pm
We can improve our current practices and ensure we implement the âmost valuable recommendationsâ instead of âas many recommendations as we canâ.
3 key elements which encourage a change of focus from Quantity to Quality, and in turn helps workers be more aware of minimizing risk and financial opportunity costs, are:
- Determine an indicator which represents value of recommendations.
- Determine the ideal order of implementing recommendations.
- Compare actual implementation to ideal implementation then close gaps by analyzing the difference.
The benefit of a recommendation is the risk reduction it provides to consequences. By looking at aspects of the recommendation that include its projected reliability, and the severity and frequency of scenarios it would protect against, we can calculate the value of recommendations and rank them by their initial benefit.
By knowing our most risk reducing recommendation, we can simulate what would happen to our risk if we were to implement it. For example, âNow that Recommendation X is a safeguard, how has the importance of our other recommendations changed?â What happens to our risk ranking if we were to implement the next most important recommendation? Using an iterative methodology, we can determine the ideal order of implementation and provide a useful target to strive toward.
This paper has an Extended Abstract file available; you must purchase the conference proceedings to access it.
Do you already own this?
Log In for instructions on accessing this content.
|Employees of CCPS Member Companies||$150.00|
|AIChE Graduate Student Members||Free|
|AIChE Undergraduate Student Members||Free|