Managing Risk From Site To Board, BP ...

Managing Risk From Site To Board, BP Holdings Barcelona

Posted in the Germany Forum

Since: Oct 12


#1 Oct 11, 2012

BP’s risk management process is designed to help ensure that risks are identified, understood and managed so that we can deliver safe and strong operations
We initiated a review of our risk management system in 2011 to identify what might be done to enhance the clarity, simplicity and consistency of our system, and have begun implementing enhancements. Our system is designed to generate consistent reporting of risks and prioritization of risk mitigation plans by our businesses, including for low-probability, potentially high-consequence scenarios.
Our enhanced risk management system focuses on three levels of activity:
Day-to-day risk identification and management occurs in the group operations and functions, with the approach varying according to the types of risk we face. We assess and manage these day-to-day risks with reference to our operating management system (OMS) and agreed action plans.
Periodic collation and review of risks and risk management plans happens at the business and functional level, including major accident risk and other potentially high-consequence risks.
Oversight and governance occurs at board, executive and function levels to help foster effective group-wide oversight, business planning and resource allocation, intervention and knowledge sharing.
Restructuring to reduce our operational risk
We have made significant structural changes to the way we run our business since the tragic accident in the Gulf of Mexico.
The upstream business has been reorganized into three divisions (exploration, developments and production). This creates greater clarity and accountability, as well as bringing specialists together into teams where they can build their capability.
For example, we have changed the way that our wells across the world are run, bringing them all under the management of one global organization. We have adopted a similar management strategy for all our global upstream projects.

In addition, we have introduced an independent safety and operational risk function. It issues company-wide safety and operational risk standards, through our operating management system. It provides an independent view of risk and, it can escalate or intervene as necessary to promote the operating businesses’ application of global standards on safety and operational risk.

Since: Oct 12


#2 Oct 11, 2012
Awesome to talk to your online site. Many thanks!

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Germany Discussions

Title Updated Last By Comments
News Germany hosts Ukraine summit, also expected to ... Sat Rockstar 2
News Leaders agree to create - road map' for Ukraine... Oct 21 Parden Pard 2
News Seattle Genetics Demonstrates Commitment to Imp... Oct 20 Rockstar 2
News Curtain, flag drop on Giessen (Nov '07) Oct 20 Dave Robinson 82
Why are germans so ugly and deformed? (Oct '11) Oct 20 The Insulting Fre... 147
If Turks are white, then Malaysians are too! (Jul '10) Oct 19 gwendolyn levatte 133
lufthansa greece Oct 16 Rockstar 2
More from around the web