White Papers

BST: Catastrophic Events: Eight Questions Every Senior Leader Should Ask

The post-Gulf Oil Spill environment is a time to pay attention to leadership and culture to reduce your exposure to catastrophic events. We find the risk management processes of most major oil companies and their major contractors are structurally almost identical. Yet the occurrence of fatal and serious incidents among the top five oil companies varies greatly. This variation relates to how — via human interactions, communications, teamwork, etc. — the technical risk management systems are implemented, not what they are. By Thomas Krause, Chairman of the Board, BST