Process Safety Performance Indicators

Welcome to this audio overview on process safety performance indicators (PSPIs). In the process industry, while personal safety is crucial, preventing major incidents requires a strong focus on process safety management. Major incidents like fires, explosions, or significant releases of hazardous materials can have severe consequences. To effectively manage and reduce the risk of such incidents, organisations implement process safety management systems, which rely on various barriers like physical systems, instrumented systems, and management/people systems. To understand how well these systems are functioning, organisations use process safety performance indicators (PSPIs). These metrics can be categorized as leading indicators, which precede a system failure, and lagging indicators, which follow a failure. This audio overview is based on a position paper aimed at defining standards for a set of PSPIs specifically within the oil, gas, and petrochemical industry. The information presented here can help in understanding the role of PSPIs in supporting risk improvement efforts and gaining better insights into process safety performance.