How to deal with performance indicators in your bowties

You probably know this problem: you have bowties made of your entire asset management structure, but how can you devise a structured approach to measure your improvements?

Why performance indicators?

Performance indicators are variables that can measure the performance of a company. Whether the performance indicators are strategic, tactical, operational and/or quantitative/qualitative, proactive/reactive in nature they all share the same purpose.

Performance indicators can:

  • Give insight in the current performances.
  • Support the identification of performance gaps between current and desired performance.
  • Provide indication of progress towards closing these gaps.
  • Support the decision-making.

Objectives

The most important objective of any pipeline operator is the preservation of the license to operate a safe and reliable pipeline system. Without the correct information or tools to process information, a company cannot make sound decisions based on the state of any part of its pipeline network.  We can summarize the objectives under the following categories:

  • Ensuring the assets functions (availability, security of supply, etc.).
  • Ensuring the assets achieves their design life cycles.
  • Ensuring operational and environmental safety.

Approach:

The bowtie serves as a basis for developing the performance indicators. Performance indicators are derived from the main threats and consequences of failure to the pipeline integrity, as identified with the bowtie analysis.

The main purpose of this project is to establish the relationship between the bowtie and the performance indicators. The occurrence of an unwanted event or HSE incidents are “easy” measurable and are obvious performance indicators.

Please contact us for more information.