Risk register and risk intelligence: the challenge of operational risks in the energy sector

M. C. Leva, B. McAleer, M. Rocke, D. Brogan

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

This paper presents the needs and the challenges encountered in developing a company-wide risk register in the energy sector. The study presented comes from an electricity generation company and it was useful to indicate areas where the concept of risk registers could be extended to make better use of existing data and to support continuous improvement of risk management. Six key areas are discussed 1) aggregation of risks across the business, 2) supporting controls over mitigation measures, 3) improved estimation of event likelihood, 4) integrating with critical asset registers, 5) improving risk communication, and 6) linking with day-to-day operational practice. The paper concludes with a framework for placing risk registers at the heart of Process Safety.

Original languageEnglish
Title of host publicationSafety and Reliability – Theory and Applications - Proceedings of the 27th European Safety and Reliability Conference, ESREL 2017
EditorsMarko Cepin, Radim Briš
PublisherCRC Press/Balkema
Pages1873-1884
Number of pages12
ISBN (Print)9781138629370
DOIs
Publication statusPublished - 2017
Event27th European Safety and Reliability Conference, ESREL 2017 - Portorož, Slovenia
Duration: 18 Jun 201722 Jun 2017

Publication series

NameSafety and Reliability - Theory and Applications - Proceedings of the 27th European Safety and Reliability Conference, ESREL 2017

Conference

Conference27th European Safety and Reliability Conference, ESREL 2017
Country/TerritorySlovenia
CityPortorož
Period18/06/1722/06/17

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