 Decision quality related to emergency shutdown system in the oil and gas industry: influences from data and informationPengyu Zhu, Jayantha P. Liyanage, Rajesh Kumar and Sukhvir Singh Panesar International Journal of Decision Sciences, Risk and Management, 2021, vol. 10, issue 1/2, 131-159 Abstract: In today's industrial contexts more and more datasets are collected and stored under various conditions, contributing to the growing challenge for identifying truly valuable data and information to improve decision quality, particularly in relation to safety related risk. From that perspective, this paper studies emergency shutdown (ESD) systems aiming at identifying how data and information affect decision quality around the ESD system, for the purpose of improving current maintenance and inspection practice. The study was performed in close collaboration with industrial partners. The paper elaborates on a novel approach challenging the traditional practice related to safety-critical systems in industrial assets. The framework developed can be adopted by asset operators, equipment suppliers, as well as technology and service providers who can capitalise on the unexplored potential of data and information in traditional decision regimes related to ESD systems. Keywords: offshore oil and gas; ESD system; information value; data management; decision-making; asset management. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijdsrm:v:10:y:2021:i:1/2:p:131-159 Access Statistics for this article More articles in International Journal of Decision Sciences, Risk and Management from Inderscience Enterprises Ltd |
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