Process safety is about understanding hazards and risk, managing risk by providing the appropriate layers of protection to reduce the frequency and severity of incidents, and learning from incidents ...

We propose an approach for the modeling, monitoring and control of operational risk in financial institutions based on a methodology that integrates business process modeling with statistical and ...

Successful risk management is essential to the design and development of safe and effective medical devices. Unfortunately, it is too often viewed by manufacturers as an isolated activity that must be ...

The author describes why statistical significance would impose an unreasonable burden on manufacturers. Validation has been practiced within the global healthcare industry since the early 1970s. While ...

To decrease the possibility of failure, medical device companies must employ critical thinking, risk process point analysis, and control measures. Walt Murray In the medical device industry, the life ...

The memorial for the Bhopal Gas Disaster is situated near the site of the Union Carbide Corp. factory, which on Dec. 2, 1984, was the site of a massive release of toxic chemicals, including methyl ...

LAST week we explored the minimum capital requirements under Pillar 1 of Basel III. This week, we will focus on the firm-wide risk management process and the role of supervisors, under Pillar 2, to ...

Process designs and control strategies can be improved by adopting a risk-based approach to product quality. The author describes how this approach can be applied to spray-drying operations. Taking a ...