A novel extended bowtie risk assessment methodology was used to develop the safety assessments for three Major Hazard Facilities (MHFs). Combined with an innovative risk management tool for operationalizing risk management processes, it provides a clear overview of each facility's current operational risk profile and the health of the safety critical barriers. This paper describes the bowtie methodology, its application in the development of the MHF safety assessments and the operationalization of the safety assessments through the risk management tool.

Keywords:
risk management, significant hazard, risk assessment, maintenance, safety assessment, assessment, risk and uncertainty assessment, bowtie safety assessment, bowty, IRR
Subjects:
HSSE & Social Responsibility Management, Risk Management and Decision-Making, HSSE management systems, Risk, uncertainty, and risk assessment, Decision-making processes
Copyright 2018, Society of Petroleum Engineers
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