Is Your Company Heading for a “BP Type” Disaster?

Updated: November 01, 2010

According to what we have read in the papers all of these oil wells are designed to have redundant systems to virtually reduce or eliminate the chance of a system a.k.a. oil well failure. There has been speculation as to whether or not all the redundancies were in place for the Deepwater Horizon oil platform. There was discussion about how much investment was put into building a system/ oil rig that in spite of the depth would not fail and create this disaster.

One of the questions I have to ask is whether or not Entropy and the Chaos Theory weighs heavily on those individuals who are funding, designing and building these oil wells. It would appear that most of the efforts were put into preventing a failure of the system when in fact every system will essentially end up failing at some point or another, particularly when we talk about building something with a myriad of always changing conditions i.e. weather, ocean current, concrete manufacturer. If all your efforts are positioned to make sure that a system does not fail what do you do when it does fail?

The assumption of "never failing" is really the problem with this whole incident. The New York Times reports that there has been little advancement in oil spill cleanup technology since the two decade old Exxon Valdez oil spill. BP and I am sure the rest of the industry has invested very little in containing an oil spill while investing large amounts in deep well technology etc. Unfortunately, the government has not taken a position that would force oil companies to explore and develop oil spill technology containment so most companies assume that the risk and expense associated with a spill is considerably less long-term resulting in little short-term monetary investment.

Featured Research
  • Empty the Airport Lounge

    When it comes to budgeting, travel time and expenses typically make up one of the larger allocations for growing companies. But did you know that there was an alternative that could save you time, money, and spare your employees jet-lag? Businesses that utilize video conferencing see a 30% reduction in travel costs. And while you might think your employees will get upset about the loss of flight status, only 15% are worried about the reduced travel and their frequent flier status. more

  • 10 Reasons to Invest in Video Conferencing

    Have you been on the fence about implementing a video conferencing solution for your business? Not quite sure if your employees will utilize it or are concerned about the costs being too high? The modern workforce is adapting and evolving with more and more employees working remotely, it is essential that they have the tools to be able to communicate effectively. more

  • Checklist for Setting Up an In-House Contact Center

    As customer service continues to become the most important competitor differentiator, can you honestly state that your business ranks among the best in your industry? 93% of organizations expect that contact volume will either remain constant or increase over the next two years. It is absolutely essential that you have a contact center that has been set up for success. more

  • 2017 Business Intelligence Trends

    It's long been thought that business intelligence (BI) could only be utilized by highly trained analysts and was therefore unattainable for most businesses. However, advancements in BI have made it so that everyone can utilize BI solutions to help shape business decisions and drive companies bottom lines. more

  • Your Phone System and Your Bottom Line

    Businesses have been using phones to drive increases to their bottom lines for almost a century now. Telephony, much like the rest of the business world, has seen drastic changes with the increase in technological advancement. Voice Over Internet Protocol (VoIP), has enabled companies to connect with consumers at levels that have been seen as unheard of before. And trust us when we say this, it is doing wonders for the bottom line. more