Risk-Based PSM Helps Make Business Case on a Large Capital Project

摘要

The trend in industry towards adopting risk-based approaches to process safety management (PSM) can help reconcile safety with business needs, as shown by a study performed on a large capital project. The approach developed leverages the results of explosion modeling now commonly performed for the siting of occupied buildings, by extending their use to assess business risk. The predominant means for preventing collateral damage outside the battery limits of process plants is separation, traditionally established by operator or industry spacing standards. The methodology presented improves on these standards, by considering the explosion hazard specific to each process plant and the vulnerability of nearby facilities such as plants, buildings, and other equipment.