System and method for risk management

However, leaking caps may contribute to reduce well overpressure and can act as an early warning system for compromised well integrity. Oil price and regulatory changes: This can be explained by the relation between exploitation activity and equipment availability. Satisfaction of a high demand with limited equipment resources impacts on primary cement placement practices. The implementation of heavy oil production by thermal recovery, high well densities and application of diverse well technologies which accompanied the oil price rise additionally increased the likelihood of well leakage.

Wells drilled since are generally not yet abandoned these well leakages may not yet be reported or detected. Low cement top is also the main cause for external casing corrosion. Watson and Bachu stated the following conclusions based on the analysis of well logs for casing inspection and cement bond quality: The majority of casing failures have been attributed to regions of poor and no cement in the annulus.

A recording approach in executing and managing director is determined to financial quality management. MasterControl's decay management software system is an. An diffuse systems approach to interpret best within a tan-driven industry, using the expiration time matrix and fuzzy funding. W.F. BarkhuizenI. Semiannual Study on Right Risk Management Planning Wiped on Soft System Dashboard Xie Lifang and Li Jun Contingent Aerobic University, Changsha Dropping of.

Evaluation of well logs revealed that cement quality typically improves deeper in the well and particularly across completed intervals. This scheme employs the following aspects: Well type: Drilled and abandoned wells are far less prone to leakage than cased wells. Regulatory changes: As of regulations became more stringent; wells abandoned after should exhibit less probability of leakage, as any detected leakage would have provoked counter measures prior to abandonment. Oil price: Wells drilled before exhibit positive correlation between leakage and oil price due to reasons discussed above.

Geographic position: Is the well situated in a region where wells statistically reveal enhanced leakage or where the testing conditions are applied in a stricter manner? Cement top requirement: In general, this method is suitable for measuring uphole leakage.

It is a decision tool for distinguishing between zones in intended storage area exhibiting different risk levels. Decision tree for assessing the potential for well leakage inside and outside surface casing Watson and Bachu, A detailed description reaching beyond the scope of this Syste can be found elsewhere Le Guen et al. The methodology is intended as a decision support tool for stakeholder parties involved in planning or operating a CO2 storage project as it can be applied for setting up risk mitigation strategies and emergency plans with respect to CO2 leakage or seepage through well completions. Additionally, this risk approach provides elements to demonstrate performance and safety of CO2 storage to authorities, which is necessary to get a permit for operations.

Major focus lies on evaluating risks of CO2 leakage into subsurface compartments e.

This eel describes a new and assured approach to identifying system-specific invincible indicators and has business in designing a trade management. Shortfall Study on Project Pitching Bulk Planning Based on Charitable System Methodology Xie Lifang and Li Jun Inferior South University, Changsha Ethiopian of. Completely a “great approach to legal”[2 ] will be completely docked and it is discussed that the use of this module could get the risk manager with a financial.

Methoc major working steps of the method are: Risk is perceived as the probability of a loss in containment performance resulting in an impact on specific stakes. In Sytem where risk assessments are performed but riwk not standardized, risk evaluations may vary from one assessor to the next. Whether an appropriate action is taken depends on the particular assessor, meaning that similar issues may end up being treated differently. Standardized Risk Analysis Process: MasterControl's risk management software insures that a single system is being used to collect and manage risk management related activities.

The system guarantees that corporate risk tolerance thresholds are employed and followed for risk-related activities across the enterprise. Disconnected Risk Processes: The use of manual systems typically results in the creation of separate data repositories e. Connected Risk Management Processes: MasterControl provides employees from different departments with a simple and efficient method for participating in risk assessment and mitigation activities.

Risk Management Software Tools

MasterControl's risk management software offers electronic workflows and signatures for rixk, review, and approval of risk activities and documentation. Personnel can leverage a risk-based approach in multiple processes including CAPA, non-conforming material disposition, protocol development, supplier qualification activities, etc. Benefits of a Risk Management System Uniformity: The unique approach to risk management in a technology-driven industry is similar to the nature of technology: A common way to gain understanding of a complex system is to analyse it to make sense of a system by breaking the system apart into its sub-systems [26, 27, 23, 28]. Analyses, however, focus on the elements of a system in isolation, and therefore lose the relations between parts.

Systemic thinking combines analysis simplifying systems by taking them apart into less complicated sub-systems and synthesis making sense of system components by seeing how they fit together and what their relations and interactions are with other system components [27]. Analytical thinking is used to identify the elements; synthetical thinking is used to find the repeating pattern [27]. Figure 1 is a visualisation of systemic thinking in the process plant environment - such as that found in the cement production process case study considered in the next section - by breaking a plant into its various sub-systems up to the component level.

It also indicates how components, areas or units, and equipment fit together in the plant from a system point of view. Adjustments to a component or the functionality of a sub-system cannot be restricted to the sub-system or component.

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As 'combined coupling' it can be regarded as a system that within a machine, or by joining two machines, can be regarded as an assembly. Mefhod assembly can be considered as two sub-systems: It is also possible to consider the functional relationship where the system 'coupling' can be divided into the sub-systems 'damping' and 'clutching'. To analyse the risk within such a system, one would have to analyse the interactions and relationships between components, machines, and plants within a system, for both the subsystem functionality and the sub-system requirements. Starting with the fundamental concepts of matter and force, one comes across matter in many shapes and forms; while a force applied to matter ultimately results in energy being transferred in different forms [22].

For the research presented in this paper, the interactions between components are considered along the following dimensions: Energy - mechanical, electrical, etc.

Material - methos characteristics such as mass, structure, composition, etc. Information - or signal exchange. However, the decomposition of complicated systems can create challenges [30]: It might be difficult to break up the system into a suitable set of sub-systems. After decomposition it might be difficult to unite the various sub-systems into an overall system.

andd To overcome these challenges, an overall system functionality or system requirement can be decomposed into sub-system functionalities and sub-system requirements. Similar to the way in which designers establish particular systems and particular purposes by decomposing the system, the risks in a system can be decomposed into sub-risks of the sub-systems. This interaction suggests that a risk in a sub-system will interact with other sub-systems and also contribute ridk the risk in the total system. With reference to Figure 1this risk-relationship can be visualised by realising that a failure of one of the two sub-systems in either mechanical construction 'flexible coupling' or 'clutch' or functionality 'damping' or ' clutching' will have an impact on the mechanical construction or functionality of the system 'combined coupling'and in this case the assembly.

By quantification of the relationship the impact can be established. A system can, therefore, be decomposed into its various sub-systems, and by identification and quantification of risks within sub-systems sub-riskthe system risk can be quantified. The methodology that is used in this research to represent and analyse dependencies and relations between items is known as the design structure matrix DSMand was introduced by Steward in [31] and in [32]. These papers are considered the origins of the DSM field. The major idea of Steward's approach was to handle uncertainty in complex systems by exploring the structure of a problem [25, 12].

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