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Decision quality related to emergency shutdown system in the oil and gas industry: influences from data and information

Author

Listed:
  • Pengyu Zhu
  • Jayantha P. Liyanage
  • Rajesh Kumar
  • Sukhvir Singh Panesar

Abstract

In today's industrial contexts more and more datasets are collected and stored under various conditions, contributing to the growing challenge for identifying truly valuable data and information to improve decision quality, particularly in relation to safety related risk. From that perspective, this paper studies emergency shutdown (ESD) systems aiming at identifying how data and information affect decision quality around the ESD system, for the purpose of improving current maintenance and inspection practice. The study was performed in close collaboration with industrial partners. The paper elaborates on a novel approach challenging the traditional practice related to safety-critical systems in industrial assets. The framework developed can be adopted by asset operators, equipment suppliers, as well as technology and service providers who can capitalise on the unexplored potential of data and information in traditional decision regimes related to ESD systems.

Suggested Citation

  • Pengyu Zhu & Jayantha P. Liyanage & Rajesh Kumar & Sukhvir Singh Panesar, 2021. "Decision quality related to emergency shutdown system in the oil and gas industry: influences from data and information," International Journal of Decision Sciences, Risk and Management, Inderscience Enterprises Ltd, vol. 10(1/2), pages 131-159.
    • Handle: RePEc:ids:ijdsrm:v:10:y:2021:i:1/2:p:131-159
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