1.0 Business Case for PS

Question 1

Is a business case for process safety required?

Answer 1

No…..

Question 2

What is the main benefit of implementing a PSMS robustly?

Answer 2

Sustainability ; not running out of resources or causing harm.

Question 3

What 5 benefits does a robustly implemented PSMS confer

Answer 3

Corporate Social Responsibility, Loss Prevention, Business Flexibility, Sustainable Growth & Leadership Excellence

Question 4

What message does does consistently strong share price give to stakeholders?

Answer 4

That you care about stakeholders & employees & this is directly reflected in the indicator of value - share price!

Question 5

How is shareholder confidence effected by a PS event?

Answer 5

It can negatively affect risk perception, corporate image, employee engagement & stakeholder trust

Question 6

How does a PS Event impact business flexibility

Answer 6

A significant PS event can constrain a company in many dimensions including: resources (including cash), focus (on recovery rather than growth), business relationships & increased regulatory oversight.

Question 7

How does a robust Loss Prevention process affect the bottom line?

Answer 7

A robust PSMS coupled with strong PS shows up on the bottom line annually - as incidents that didn’t occur

Question 8

How does a robust PSMS impact sustainable growth?

Answer 8

Evidence shows that embracing a PSMS increases productivity & capital efficiency whilst simultaneously decreasing downtime, & production and maintenance costs.

Question 9

How does PSMS impact leadership excellence?

Answer 9

A rigorous PSMS requires strong leadership at all levels & well implemented results in Operational Excellence; strong PS drives Leadership & conversely.

Question 10

What is the business case for process safety?

Answer 10

Equivalent to the business case for any aspect of the companyit enhances the business; refer graphic