DNV Software presented a paper entitled ‘Beyond Compliance – The Future Role of Risk Tools’, focusing on Process Business Risk, at the Annual Symposium of The Centre for Chemical Process Safety (CCPS) in Atlanta, Georgia, USA.

This year’s 20th Annual Centre for Chemical Process Safety (CCPS) conference was organised by the American Institute of Chemical Engineers (AIChE). This combined ‘Global Congress on Process Safety’ event provided a unique opportunity for DNV Software to profile its portfolio of risk management software and solutions for the process industries.

The theme of the symposium this year was ‘Risk Management: The Path Forward’ and as well as exhibiting in partnership with DNV Consulting, Houston, DNV Software presented a paper entitled ‘Beyond Compliance – The Future Role of Risk Tools’. Dr Nic Cavanagh, Global Product Manager in DNV Software, presented the paper to an eager audience at a session specifically focusing on how to achieve better results with fewer resources. Jointly written by Nic and Dr Jeremy Linn, DNV Software Regional Manager for the UK, Benelux & Americas, the paper looks at the history of Process QRA software and examines the move from a compliancebased risk approach to using the latest risk and information management technology to improve financial performance. It goes on to look at extending the application of traditional risk assessment and introduces the concept of Process Business Risk to help industry more directly link risk assessment and financial performance. The presentation was concluded with a demonstration of an early prototype of the Safeti$ extension which DNV Software is planning to launch commercially later this year.

“As well as being able to promote our world leading Phast, Safeti and Orbit software products, the symposium gave us an excellent opportunity to launch our Safeti$ analysis product for financial risk, showing the first prototype release to a number of interested attendees. More than 1,800 delegates attended the event and in excess of 200 delegates were at the CCPS conference alone. There was a great deal of interest in the Safeti$ concept and the related presentation, and we had many visitors who wanted to find out more about the work we are doing to extend conventional QRA tools to have more direct relevance to operations,” says Nic Cavanagh.