A Study of Modern Risk Management Methods for Industrial Safety Assurance in the Fuel and Energy Industry

To ensure the safety of fuel and energy holding companies, it is necessary to apply modern risk management methods. To improve the efficiency of complex management systems, it is important to meet risk management requirements based on the standards applied in the industry. The well-known international standards (ISO 31000, IEC 31010, ISO / IEC 27005, IEEE / ISO / IEC 16085) set new risk management requirements for any industry, including the fuel and energy one. These standards are based on different approaches which causes a discrepancy between the two versions of risk management requirements. The article provides an analysis of these two standards which have been analyzed by the risk management method applied in the fuel and energy industry. The results can be applied when improving the efficiency of complex management systems (e.g., in the study of PDCA cycle closures in the fuel and energy industry).