Operations Due Diligence
With limited resources available for organisations to deliver sustained prosperity and safety there is a need to ensure assets and processes are being utilised efficiently and effectively. To meet the expectations of shareholders, boards, customers and regulators, this needs to be demonstrated in a diligent, transparent and robust manner.
R2A’s Operations Due Diligence process for a site, plant or process, addresses issues from a strategic viewpoint by determining the actual plant efficiency in the context of all of the credible risk issues and system characteristics to which the site is exposed. It highlights the areas of greatest concern. Precious resources can then be targeted to optimise existing assets and processes to get maximum net outputs from the plant.
It does this by testing for the catastrophic, low likelihood outliers first before optimising the system for operational availability. The process involves four steps:
- Context (or boundary) vulnerability assessment
- Common mode (zonal) vulnerability assessment
- Functional availability modelling
- Options review, investment payback analysis and recommendations.