(513d) Engineering Risk Rountable

The inherent complexity in manufacturing operations through construction have put more pressure on companies to focus on risk management beyond regulations and standards compliance.   However, many individual facilities use a multitude of systems and methods and descriptions to define and assess engineering project and construction risks along with different models to score the severity and likelihood of risk and to control it. This creates isolated pockets of risk knowledge, and impedes the ability to accurately share lessons learned and best practices effectively within one company let alone across an industry. The cost of capital, resources and personnel will continue to rise while regulatory requirements and sustainability initiatives become more stringent, integrated, and expensive. All of these factors create a strong need for strategic operational risk and information management uniformity and education.