Risk Management
Structured risk assessment, bow-tie analysis and a rolling inspection program identify and reduce risk before it becomes incident.
Reducing risk before it becomes incident
Risk management is the discipline of identifying what could go wrong, assessing how serious it would be, and putting barriers in place to prevent it or reduce its consequences. At a storage terminal, it is central to safe operation.
Structured risk assessment and bow-tie analysis identify and reduce risk before it becomes incident. A rolling inspection program and leading-indicator tracking keep risk management proactive, not reactive.
Our approach treats risk management as a continuous activity — embedded in planning, operations and improvement — rather than a one-off exercise.
Key capabilities
Risk Assessment
Structured assessment of every operation.
Bow-tie Analysis
Threats, barriers and consequences mapped.
Leading Indicators
Inspections and hazards tracked proactively.
Barrier Management
Prevention and mitigation barriers maintained.
From threat to consequence
Bow-tie analysis maps the path from a threat to a consequence and the barriers in between.
- Threats — what could initiate loss of containment
- Prevention barriers — controls that stop the threat escalating
- Top event — loss of containment
- Mitigation barriers — controls that reduce the consequences
- Consequences — fire, release, environmental or commercial impact
Leading, not lagging
We manage risk through leading indicators, not just by counting incidents.
Leading indicators — inspections completed, hazards reported, drills executed, barriers verified — tell us whether risk is being managed before an incident occurs. Lagging indicators confirm whether the approach is working.
Together they keep risk management forward-looking and improvement-oriented.
Frequently asked questions
What is bow-tie analysis?
It is a structured method that maps the path from a threat to a consequence, with prevention barriers before the top event (loss of containment) and mitigation barriers after it. It makes risks and barriers visible and manageable.
What are leading indicators?
Leading indicators measure activities that prevent incidents — inspections completed, hazards reported, drills executed, barriers verified — so risk can be managed before an incident occurs, rather than only counted afterwards.
How often is risk assessed?
Risk assessment is a continuous activity embedded in planning and operations, with structured reviews for new activities, changes and recurring hazards. It is not a one-off exercise.