CHICAGO, Oct. 21, 2020 (GLOBE NEWSWIRE) — Sphera, a leading global provider of Integrated Risk Management software, data and consulting services, today announced its Dynamic Risk Pathways solution, the industry's first real–time, process safety management Digital Twin solution.
Sphera's Dynamic Risk Pathways is the industry's next generation Operational Risk Management (ORM) Digital Twin technology for modeling and predicting process safety risk exposure for defined risk scenarios. By using the real–time status information from asset integrity inspections, safety critical equipment, Internet of Things (IoT) sensor data, maintenance and operational activity, and deviations from normal operating conditions, operational teams are provided with a single, shared view of the impact on Major Accident Hazard (MAH) risk scenarios.
Dynamic Risk Pathways turns disparate data into actionable insights. It improves decision–making in evolving conditions while helping organizations move from a reactive position to a predictive and proactive approach. It provides an early–warning system so operators can see how impaired, degraded and missing process safety barriers increase the likelihood of a pathway developing into a near–miss, incident, or MAH situation. With real–time visibility, organizations can improve maintenance prioritization, asset integrity, safety assurance and production uptime.
"Traditionally, it has been difficult for organizations to view the data held in disparate systems to obtain a credible, real–time view of the status of their safeguarding barriers and process safety risk exposure," said Scott Lehmann, Sphera's vice president of product management for ORM. "Dynamic Risk Pathways brings all this data together allowing people across the organization to see where risk might be increasing against specific risk scenarios so they can make better decisions around where to intervene, what to prioritize and where additional risk mitigation is required."
Dynamic Risk Pathways is available as a part of SpheraCloud, a Software as a Service platform built to leverage the power, security and flexibility of Microsoft's Azure.
"Remaining safe, resilient and competitive requires organizations to make investments in innovative, data–driven technology," said Paul Marushka, Sphera's president and CEO. "Dynamic Risk Pathways connects data in a simple, clear way to aid proactive decision–making. Now operators can know that the plant is safe with data–based evidence to support it."
Sphera creates a safer, more sustainable and productive world. Our innovative cloud–based risk management platform connects an unprecedented amount of information that leads to deeper insights across an enterprise. We operationalize, scale and optimize Integrated Risk Management strategies to help customers identify, manage, and mitigate risk in the areas of Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship.
For further information, please contact:
Ellen Bremseth, Manager, Marketing Comms, Sphera, email@example.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/46f7dd62–5d1b–467c–b06c–e6927e6218a0