Can Asset Performance Management Solutions Help Reduce Legal Risks?

Keywords: Asset Performance Management, Corporate Responsible Officer Doctrine, Corporate Culture, Risk Management.

Historically, corporate manufacturing executives have not been held personally liable for legal violations of the corporation. One notable exception is in bribery cases, where companies make cash payments or gifts to win a public works or construction contract. Although norms and penalties vary by region, mounting evidence indicates an increasing global trend to prosecute corporate officials for the actions of the corporations they represent, particularly in cases involving an industrial fatality or threats to public welfare. Asset performance management (APM) solutions that support risk reduction, plant reliability, mitigation of loss, and avoidance of unplanned outages could be used in court to provide supporting evidence of proper plant operations should the need arise.

Please note that this author is not an attorney, so readers should not con-strue the information contained in this report as legal advice. The purpose is to expose ARC Advisory Group clients to the trend and highlight the availability of solutions that can help demonstrate responsible plant operation should the need arise.

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