Managing risk is of paramount importance for business continuity and the realization of your profit potential. Other Risk Assessments which can be executed by us are Layer of Protection Analysis (LOPA), Hazard Identification (HAZID) and Escape and Rescue Assessments (EERA). All risk assessments are executed following ISO 31000 standards. MDU Spec can help you with this by identifying operational and project related risks, using the following methodologies:
- Risk Assessment Workshops to identify and rate risks related to people, environment, assets, reputation etc.
- Root Cause Analysis (RCA) and Accident/ Incident Investigation: a method to find the root causes of an accident and the improvements in order to avoid new accidents and incidents.
- Hazard and Operability Assessment (HAZOP): using guide words which question the design or operating conditions at each step in the design, process, procedures or system.
- Failure Mode, Effect (and Criticality) Analysis (FMEA, FMECA), to determine the ways in which components or systems can fail, the effects, the mechanisms of failure and how to avoid them.
- Bow Tie Analysis, starting from fault and event trees, describing and analyzing the pathways of a risk from causes to consequences and possible barriers.