Managing process safety during difficult economic times

A number of economic factors have collided recently: the step drop in the price of oil, uncertainty in the United States and global economies, and mixed signals from economic and political leaders of many countries. All of these conditions have placed companies, especially those affected by oil prices under difficult economic stress. Companies are taking radical actions to, reduce capital and operational spending and in general, reduce cost. These economic pressures can be onerous on all areas of a business, but especially on the production floor‐level operations. Cost‐cutting dicta come from the executive levels, demanding a significant reduction in operating expenses or capital expenditures even when production levels are stable or increasing. While all areas of a company feel the impacts, key process safety impacts are felt on the shop floor; by the exact people, process safety is meant to protect, the operators, maintenance personnel and their supervisors. During these times of extreme economic pressure, it is imperative that process safety systems are not allowed to lose effectiveness. This article is intended to serve as a reminder of some impacts of cost cutting and to present tools to combat the loss of process safety effectiveness.