(512b) Effective Quantitative Decision-Making Based On Lowering Cost of Capital and ROI Thru Safety Engineering Studies

The intention of this article is to reflect on the main aspects that affect the performance of the projects, for such effect took place a diagnosis of the schemes of management used by the company of the consulting sector. For the study one approached the areas of generation business, petroleum, refining, petrochemical, technology, etc of inelectra and the operational area of our principal Client, PDVSA PETROCEDEÑO (before SINCOR).

The process industry has adopted automation to improve product quality and production rates, to reduce the potential for operator error, and to decrease resource requirements. Process automation includes many different instrumented systems, such as process controls, alarms, instrumented protective systems (IPS), and emergency shutdown systems. These systems range from simple hardwired systems to complex programmable electronic systems.

Good design leads to safe operation by anticipating potential errors and failures and implementing means to detect their presence, so that they can be corrected once implemented, the increased complexity may require a significantly greater level of attention during assessment, design, inspection, testing, and maintenance.. Good design ensures that the core attributes of independence, functionality, integrity, auditability, reliability, access security, and management of change are addressed consistent with owner/operator requirements. Poorly implemented design can lead to significant hazardous events, involving impact to people, the environment, and plant assets.

Various valuable information scattered all over CPI (Chemical Process Industry) needs to be integrated and retrieved efficiently to manage technique, facility and personnel. This paper focuses on a new decision-making methodology of safety-related investment and management of main causes for accidents and failures. The methodology integrates safety technology, process data and business information in a petroleum and oil-refining industry. This methodology suggests a quantitative investment procedure to reduce safety accidents and plant failure cases within limited budget efficiently. Major factors are considered as accident history, human error, facility, service, operation, maintenance, emergency plan, and priority of investment, effectiveness of improvement, environmental concerns, loss control and cost.

Key words: Management of projects, processes of management, areas of management, phases or service life of the project, Decision-making methodology, instrumented protective systems (IPS), spills, return on investment (ROI), hazardous events, fire zones.