Bud's Offshore Energy (BOE)

From the standpoint of post-Macondo safety and regulatory issues, this concise summary is the most comprehensive and useful report that I have read since the blowout.

I have pasted (below) comments about information management – one of the many important topics considered in the report – and hope you take time to read the entire summary. It is only 12 pages.

Conducting a critical review of the information used to manage major accident risk is one of the measures relevant for the companies. This work could include an assessment of
 the relevance, reliability and modernity of the indicators used to follow up risk trends
 inappropriate use of indicators, incentives and reward systems
 the need for better indicators and other information about the business which can be used to secure an early warning about a weakening in safety-critical barrier elements.
The PSA is of the opinion that the quality of information applied in managing major accident risk is also a question of what overview the players have of their own business, and thereby a question of the players’ own control. The PSA assumes that managing major accident risk cannot be outsourced. In light of the DwH accident, it could be relevant for the companies to review the processes intended to provide the necessary information about the business, assess in part how these processes support a culture of accountability and how various management and audit functions, third-party verifications and so forth contribute in this connection.

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