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Equipment risk management assessment in the petrochemical industry

This study examines quantization and quality factors to construct an assessment model for equipment risk management in the petrochemical industry. The procedure is divided into three stages: 1. setting up a preliminary indicator construct, 2. revising assessment indicators and 3. setting up assessment models. This model is based on five major dimensions, including financial performance, logistic support, service level, learning and innovation and risk control. It further develops thirteen strategy subjects and seventy-seven performance-measurement indicators. Performance assessment indicators are initially established and revised after collecting expert opinions by questionnaire. Further, Analysis Network Process (ANP) is used to calculate the weighted values of indicators at each layer and to construct assessment models with applicable and valuable references.