Our services focus on identifying, assessing, and mitigating operational threats to enhance the overall reliability, safety, and operational continuity of complex offshore structures, equipment, machinery and operations using the following techniques.
Major Accident Quantification
Major Accident Hazard Quantification is a risk-based approach, providing numerical assessment of the likelihood and consequence of major accident scenarios. This is provided in conjunction with established and industry standard risk management tools e.g. Bowtie analysis.
Monte Carlo Analysis
Monte Carlo Analysis is used for large and complex projects, which are influenced by a number of factors. This technique predicts the probability of different outcomes that cannot be easily predicted due to random variables. This has been successfully used to forecast, identify and mitigate unforeseen risks and the quantification of project overrun on long duration, high value projects in the marine environment.
Estimation of Repair Costs
Determination of appropriate vessel operations and spreads on a cost and duration basis in order to determine estimated repair costs.
All the above are carried out on behalf of operators, insurers, loss adjusters and lawyers.
