2025 Spring Meeting and 21st Global Congress on Process Safety

(32bj) Cost-Benefit Analysis of Early Technical Safety Studies for Novel Technology (Startup) in the Chemical Processing Industry

Authors

Michael Saura - Presenter, Risk Management Professionals
Denise Alpuerto, Saltegra Consulting LLC
Kyra Ysabella Sandejas, Saltegra Consulting LLC
The early stages of start-up chemical plants present unique risks due to novel technologies and chemistries. These pioneering efforts can bring typical hazards yet also introduce new challenges associated with the development of first-of-their-kind processes, making early hazard identification and risk management critical. This study explores the benefits of conducting technical safety studies at the project’s inception.

Traditionally, addressing safety concerns later in the process often leads to increased costs and project delays when unexpected issues arise. In the worst-case scenario, this delay may lead to safety incidents. Integrating technical safety studies such as HAZID, HAZOP, LOPA, and Inherently Safer Technology Assessments early in the pilot phase is a strategic approach to proactively manage risks, reduce costs, and ensure that project timelines are met.

Using industry case studies, the research highlights improvements in risk management, cost savings, and smoother project execution. A cost-benefit analysis model evaluates the return on early safety investments through indicators like cost reduction and improved project efficiency. Findings show that the early identification of required safety measures leads to faster project completion, reduced risks, and long-term savings.

The study recommends prioritizing early investments in process safety and suggests regulatory incentives for startups adopting these practices to enhance plant safety and success.