Project Risk Assessment & Audits

Project Risk Assessment

Project Quantitative Risk Assessment study is carried out to assess the risks associated with the execution of projects. The scope of the Project Risk Assessment includes the following:

• To identify the sources of risks like financial, research and development, production, human resources with requisite experience, administrative, strategic, inadequate project definition, lack of communication, improper contract practices, lack of management continuity, failure to identify adverse trends at an early stage, failure to identify and manage site specific difficulties such as infrastructure, logistics, cultural and language requirements, failure to identify problems at early stages, vendor and contractor selection, technical and operation problems etc.
  
• To analyze numerically the probability of each risk and its consequence on the project objectives as well as the extent of overall project risk

The methodology of Project QRA is presented below:

PHSER

Project HSE Reviews are carried out at various stages of the project such as FEED, Detailed Design and Engineering, Construction, Commissioning, Operation and Decommissioning stages etc. The reviews provide assurance to the management on HSE and Asset integrity. This review involves study of project documents, discussions with stakeholders, site visit (if applicable) etc.

SIMOPS

The objective of the SIMOPS study workshop is to identify and analyze the potential hazards associated with the simultaneous undertaking of process operations during the maintenance, construction and commissioning phases associated with the project.

The SIMOPS study shall systematically review the construction activities associated with the implementation of the project or maintenance activity. Manual of Permitted Operations will be developed after the risk assessment through the SIMOPS workshops.

Safety Audits

Safety audits for the upstream and downstream processing and industrial facilities, pipelines, commercial buildings identify the hazards in the respective areas, gap analysis against the international, national and corporate standards, improvements in the HSE management systems and devices etc. Audits will be carried out by the team of experienced and qualified HSE professionals. Recommendations will be prioritised based on the statutory and industrial practices.