Latest Developments in Malaysia’s Terrorism Financing Initiatives
Estimated reading time: 5 minutes Financial crimes like money laundering and terrorism financing have been increasing year after year. They are a threat to the economic and financial growth of any country which might have a global effect as well. A rise in such activities has a repelling effect on foreign investments. A recent survey on over 2000 companies conducted by Thompson Reuters disclosed that about half of the participants had faced financial crimes in the past one year alone and on an average they lost about 3.5% of their turnover. History of Malaysia’s Efforts to Combat Terrorism…
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4 Reasons Why Incident Investigation and Reporting is Important
“The main objective of an investigation is prevention. A good investigation aims to establish a series of events that should have taken place and compares it to what actually happened to identify areas that need changing.” There are hazards in all workplaces; risk control measures are established to reduce the risks to an acceptable level to prevent accidents and cases of ill health. Hence, incident investigations are carried out to determine the cause of an incident. After which, the management identifies unsafe conditions or acts and recommends corrective actions so that similar incidents do not happen again. …
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How to Develop an Effective Maintenance and Reliability Program
Estimated reading time: 6 minutes The effective maintenance management is a critical feature of plant operations, both in establishing the conditions for safe ongoing operation of the plant after commissioning, and in supporting the commercial success of the business. Ultimately, the contribution of a maintenance organisation can most effectively be measured in terms of its ability to generate sustained improvements with time in the total (fixed and variable) cost per unit volume of production. An effective reliability program provides the appropriate maintenance on the right assets at the right time. Rather than performing a critical evaluation of their…
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Understanding Merger and Acquisition in Oil and Gas Industry
Estimated reading time: 5 minutes The merger and acquisition activity have risen tremendously over the past few years specially in the energy sector. From around $248 billion in the year 2009 to around $512 billion in 2016. One of the major reasons we witnessed such massive growth is due to advancement in technology. The oil and gas industry had witnessed a slowdown in the merger and acquisition (M&A) deals towards the end of 2018 when the prices took a hit and dropped from $85 to $50 per barrel. Another reason for the slowdown was that a lot of…
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What is the Project Risk Management Process?
Estimated reading time: 5 minutes Projects involve many risks such as cost risks, schedule risks and resources risks. Hence as a project manager, you need to be aware of any and all risks that could affect your project. Risk management is not a reactive approach, but a proactive approach that should be part of the project planning process. It involves figuring out the possible risks and how to control that risk if it occurs. Effective risk management strategies enable you to identify your project’s strengths, weaknesses, opportunities and threats. By planning for unexpected events, you are prepared to…
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Why Choose Opus Kinetic?
Estimated reading time: 3 minutes Opus Kinetic is one of Asia’s leading provider of training courses. At Opus Kinetic, industry professionals learn from some of the most distinguished trainers and experts in the field, with training course agendas tailored to your needs. With a strong network of accreditation and industry partners, Opus Kinetic provides you the best training courses to upgrade your skills. We take pride in providing quality, well-researched courses that sets us apart from the rest. ISO: 29993:2017 accredited Opus Kinetic is proud to be part of the exclusive group of training providers who have been awarded the…
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6 Tips for Succession Planning
Estimated reading time: 5 minutes A succession planning strategy is more than just identifying a successor. Deciding which roles within an organisation to have a succession plan in place is crucial. Many organisations are realising it should not just be the top-level positions that are succession planned. How to create a succession planning strategy, and who should be responsible for the succession planning, is also vital. To get the most benefit from succession planning, your company’s top management must begin with a clear idea of who your company is in order to plan properly for its future. Succession planning ensures you…
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5 Tips for Successfully Managing Project Costs
Estimated reading time: 5 minutes When planning and managing for project costs, several factors come into play and the ability to successfully manage them will improve the chances of project success. While the 2 most common factors that lead to project delay and increased in project costs are design errors and scope change, there are ways project managers can take for an effective management of project costs and budget. Essentially, one of the most difficult tasks in project management is cost tracking and staying on top of project expenses. Tracking costs involves estimating budgets, establishing cost controls and tracking…
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Understanding 3D Seismic Data Processing
Estimated reading time: 4 minutes Seismic data processing is a complex process that comprises of several elements that contribute to its outcome. By definition, seismic data processing refers to the analysis of recorded seismic signals to filter unwanted noise thus creating an image of the subsurface to enable geological interpretation. The goal is to obtain an estimate distribution of material properties in the subsurface. Processing of Seismic Data After acquiring the seismic data, the data is recorded in digital form by each channel of the recording instrument and is represented by a time series. Processing algorithms are designed for…
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Integrating Human Factors into Safety Case
Estimated reading time: 5 minutes The 2019 National WSH Statistics report revealed that the Construction and Manufacturing industries were the top sources to fatal and major industries with 66 cases each. In the first half of 2019, there were 17 workplace fatalities and the top 3 causes were slips, trips & falls, machinery incidents and falls from height. This further underlines the importance for Major Hazard Installations (MHI) to submit a Safety Case to show that proper safety measures have been implemented and risks have been reduced to As Low As Reasonably Practicable (ALARP). MHIs need to demonstrate that…
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