Risk Management

The activities of large-scale production are always associated with the risks of emergency situations that can threaten the life and health of people, have a negative impact on the environment, damage material assets and the reputation of the company. An effective risk management system allows LLC Tagulskoeto minimize the risk.

Risk Management

The Risk Management and Internal Control System at LLC Tagulskoe is built using a unified approach to risk management, which is paired with unified tools and analysis methods (RMS and VC). Occupational safety risk management is an important part of this system. All of the company’s major operations are tracked using RMS and VK. New assets are quickly added to the system’s perimeter as well.

LLC Tagulskoe began revamping the industrial safety system in 2018, based on a risk-based strategy. The organization has identified 31 scenarios of mishaps with catastrophic consequences, the risks of which must be avoided in the first place, to control the primary hazards of industrial safety. Models of causal linkages reflecting the relationship between prerequisites, a probable incident, and its repercussions, as well as the most effective barriers – actions that minimize the risk of an incident or ameliorate its consequences – have been established for various scenarios. To put these barriers in place, LLC Tagulskoe has implemented a corporate-wide Safety Framework program. An unbiased inspection checks the quality of the actual barrier installation at the company’s locations.

The outcomes of barrier deployment are displayed on a single corporate dashboard, allowing managers at all levels to conduct an objective assessment of the condition of security at individual sites and regulate the reduction of critical risks. LLC Tagulskoe is also developing a collection of best available practices for managing industrial safety hazards linked with an asset’s operational details. For this, each asset creates a register of the most critical IS risks, and action plans for reducing those risks are developed and implemented.