What is Risk Modelling?
Risk modelling in the context of asset integrity management, guided by API 581 (a good practice Risk Based Inspection methodology published by the American Petroleum Institute), quantifies the likelihood and consequences of equipment failures such as in Pressure Vessels, Exchangers, Tanks, and Columns to effectively prioritize and manage risks. This method integrates historical data, operational insights, and expert evaluations to assess potential hazards and their impacts, supporting strategic decision-making in maintenance and safety protocols. This approach helps ensure the safety, reliability, and compliance of industrial operations.
Describe your journey to AMCL.
My professional journey transitioned from a previous company, where I was the product owner of All Assets software, managing the implementation of risk models based on API 581. I moved to AMCL as a Senior Consultant and Data Analyst over a year ago. At AMCL, I initially developed a risk model based on the Asset Health Index, targeting critical infrastructure components like transformers and gas turbines. This role allowed me to leverage my expertise in risk management while expanding into new areas of technological application and analytical challenges.
What have you been working on recently?
Currently, as the lead of a data team, I am managing several projects aimed at ensuring compliance with federal housing regulations for a major urban housing authority. My responsibilities include overseeing data analysis and strategic implementations necessary for assessing and mitigating health risks, maintaining safe housing conditions, and adhering to regulatory standards. This role leverages my expertise in risk modelling, data management, and regulatory compliance.
What challenges do you see clients facing when it comes to managing their assets?
Clients managing their assets face several challenges, including an aging infrastructure that increases maintenance costs and safety risks as well as the need for compliance with ever-changing regulatory standards. Managing vast amounts of data from diverse assets for effective decision-making presents significant technological hurdles. Additionally, efficiently allocating resources for maintenance, repairs, and capital investments requires strategic planning and foresight. Integrating innovative technologies such as AI to enhance predictive maintenance capabilities also poses challenges, and there is growing pressure to manage assets sustainably, reducing environmental impacts while maintaining operational efficiency. Lastly, developing a robust risk management framework to prevent failures and minimize downtime is essential for reliable Asset Management. Addressing these challenges demands a comprehensive approach that leverages advanced analytics and strategic resource management.
How are you supporting clients with Risk Modelling specifically, and what are the most common pitfalls you see?
I support clients with risk modelling by creating customized models tailored to their specific needs that integrate seamlessly with their existing systems. This process includes providing comprehensive training and ongoing support to ensure effective use and interpretation of the models. We continuously update the models to reflect new data, feedback, and advancements by maintaining their relevance and accuracy. Common pitfalls in risk modelling include an over-reliance on historical data, which may not fully predict future conditions, and underestimating human factors that can influence risk assessments. Additionally, creating overly complex models can hinder client understanding and usage. Ensuring clients are aware of the models’ limitations is crucial to prevent misinformed decisions. By addressing these issues, I help clients enhance their operational safety and efficiency through better risk management.
What is something you are interested in outside of your work as a consultant? Is there anything you want to share that people may not know about you?
Outside of my professional life as a consultant, I have a deep passion for gardening. It allows me to connect with nature and find a peaceful retreat from the fast-paced business environment. I also dedicate time to charity work at local churches and temples, which is a fulfilling way to give back to the community and support those in need. Additionally, I maintain a regular exercise routine, which not only keeps me physically fit but also provides mental clarity and resilience. These activities enrich my personal life, while also enhancing my professional performance by promoting a balanced lifestyle and a keen sense of community and well-being.