As part of their operational excellence initiatives, firms in high-risk, asset-heavy industries such as oil and gas, chemicals, mining, power utilities and port operators have identified the need to control risks at the level of physical operational assets. Operational risk management (ORM) software is emerging as an essential part of their digital toolkit to reduce risk whilst also increasing production. Barrier risk management, a core capability within the ORM software market provides an in-depth insight into asset integrity and asset health for risk assessment and management. RiskPoynt is one of the few vendors globally, offering a powerful barrier risk management software application that provides a real-time view of operational risks and also offers mitigation measures to minimize cumulative risks. Barrier risk management has an important place in the emerging reference architecture for operational risk management software.
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