We understand, and have first-hand knowledge of, the challenges you face when implementing and performing risk assessments. Challenges can take the form of software or data management issues, communication barriers when sharing risk results, or completing preventive and mitigative measures most effectively.
Often, the solution doesn’t lie in a software application, person or process alone.
All three elements – technology, process and people – need to come together to address the dynamic challenges of performing risk assessments. To best support our clients, Integrity Plus blends the three elements together. Our risk engineers are directly involved in the design of our software application, Spatial Risk Analyst, and offer expert guidance on the workflows and processes that our operator clients execute on a daily basis.
As a result of the combined effort of people, process and technology, our offering fits into practical workflows, simplifies the day-to-day work of risk management and integrity professionals, and addresses their largest concerns. In the latest release of Spatial Risk Analyst, we’ve provided solutions to the following common challenges:
Problem: Big Data Sets
- Pipeline data is continuously growing
- More data means more segmentation and bigger results sets
- Must be able to effectively manage big data challenges
Solution: Custom Segmentation
Custom segmentation allows the user to define the desired segmentation of a particular dataset at the input level. If users are seeing more segmentation than desired from a particular dataset, they can choose to segment that data based on a fixed length that is defined, or even choose to segment the data based on some other dataset. This custom segmentation puts control into the hands of the risk application user.
Problem: Missing Data
- Don’t always have all the data
- Defaults are used for gaps
- Difficult to justify project planning
Constants can be used when data is not yet available, improving speed and performance behind the scenes. Spatial Risk Analyst is working towards giving the user greater control over defaults with easy identification of items that have no data (constants). This allows the user to work with SMEs to determine the value and justification for it.
Problem: Preventive & Mitigative Measures Fall Short
- Deciding between P&MMs
- Risk falls flat but money talks
Solution: Flexible Preventive & Mitigative Measures
New functionality has been added to allow users to set up more complex and effective mitigations within the tool, and group any number of mitigations into an overall mitigation plan. These mitigation plans are stored now alongside the algorithm and baseline results, and allow direct comparison between original baseline results and mitigated results sets. A user can choose to apply mitigations across the board on all pipelines or at specific locations on a single pipeline. Multiple model elements can be modified within a single P&MM, and then multiple P&MMs can be applied to an overall mitigation plan.
Spatial Risk Analyst is constantly evolving to better identify and understand high risk segments through developing targeted and specific P&MMs to generate meaningful risk reductions. To learn more about how Spatial Risk Analyst is working to simplify the risk process, view our free webinar Integrating Spatial Risk Analyst with Risk Services, or contact New Century Software and the Integrity Plus Risk team to see how they can assist.