What lessons can we learn from the BP oil spill? Aug 4 2010

The Deepwater Horizon oil spill has highlighted how dramatically a disaster can impact on a company's business and reputation. While recent news is encouraging, it is crucial for BP and other players in the industry to identify exactly what has gone wrong to prevent future spills. Indeed, the incident is a reminder for all organizations to ensure that safety incidents are properly recorded and the lessons learned.

To consolidate knowledge about previous incidents across a company, case management software is a valuable aid. Good case management software helps to direct the processes around incident monitoring while also providing a repository of information.

As Martin Price, Methodware's VP of EMEA, explains, "In the case of a breach of process or accident, pre-event data becomes useful for understanding the risk and control environment and identifying systemic issues that may have occurred, or if there are similarities with other events. Additionally, post-event response data can ensure that specific root causes are identified and responses managed appropriately, covering the major exposure areas."

Restoring reputational risk can be an expensive and difficult proposition after a significant event like the oil spill - more incentive to address risk mitigation and prevention. As part of its response, BP has made a full commitment to claims and cleanup costs.

For the latest on the cleanup effort, click here.