Business competitiveness is continuously on the increase and this has forced stakeholder value propositions to focus on intrinsic value that support longer-term sustainable performance rather than shareholder value. In other words, purpose has become paramount. With purpose comes a responsibility to act in good faith, and reduce impacts on the public, communities and employees. To achieve this, companies now need robust systems to support operational excellence, integrated operational and business risk management as well as performance optimization of the production systems, with the ultimate goal of preventing accidents and maximizing financial and social outcomes of the company concurrently.
Effective Process Safety Management (PSM) is particularly critical in protecting people, communities and assets, and thus delivering upon the financial and social contract with stakeholders. It is also an inherent part of operational excellence and operational risk management because of the statutory and business continuity risks that poor PSM poses. Fortunately, PSM has evolved into a mature technical model and there is now opportunity for companies that have learned how to implement a successful PSM framework to leverage the same management systems and controls towards performance optimization.
This paper deals particularly with the controls that are required in Asset Integrity Management (AIM), a sub-component of PSM. It describes the high level rationale, framework, and critical control points that must be enforced to assure asset integrity. It then concludes on an Asset Integrity Management System (AIMS) that is used in DSS as an implementation framework to assure all controls are in place and to establish and sustain continuous improvement protocols for the system.