DNV Software exhibited at the 2006 CCPS Conference and Global Congress on Process Safety as part of the AIChE Spring National Meeting in Orlando, Florida, in April.

Building on last year’s paper, ‘Beyond Compliance – The Future Role of Risk Tools’, DNV Software’s Global Product Manager, Dr Nic Cavanagh presented the paper ‘Process Business Risk – A methodology for assessing and mitigating the financial impact of process plant accidents’. It describes the methodology implemented in the new products Safeti Financial and Phast Financial, and includes a simple case-study to demonstrate the benefits of this approach.

On the feedback received, Nic Cavanagh comments: “I was very pleased with the excellent attendance at the presentation; we received a number of probing questions. The main issue raised related to applying a value to the loss of a life. We gave serious consideration to this controversial topic in the software design, ensuring this cost category can be disabled if necessary. However, it is important to note that it is the financial impact from the loss of a life to the business operations that is accounted for. This is a very real cost and can be back-calculated from incidents such as Texas City. In follow-up conversations, it seems clear that there is growing acceptance for this in the US.”

Interest was also generated from three papers by DNV Consulting on LNG terminals, Management Systems and Risk Acceptance Criteria. The latter, by Steve Shaw, a Director in DNV’s Houston office, received particular interest and positive feedback.

Says DNV Software’s Regional Sales Manager, Mike Johnson: “CCPS is always an excellent event for DNV Software in one of its key markets, especially for the risk products. I have arranged several follow-up meetings to present and demonstrate the Financial Risk products, and am encouraged by the interest.”

The paper can be downloaded from the right hind menu.