Operational Risk Management in the Utilities & Power Generation Industries
Power and utility companies are dedicated to mitigating risks and keeping operations running smoothly to power millions of lives and billions of dollars of commerce. However, limited visibility of data and assets, disparate systems, insufficient process execution, knowledge loss with employee turnover and a lack of flexibility/scalability can leave power and utility assets exposed to significant risks. Not having a clear view of all the factors that affect the operational reality results in reactive procedures, lagging indicators, long wait times for frontline work teams, unplanned downtime and the potential for power outages and grid failures.
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