BP had a group-wide corporate system to evaluate risk, introduced by Hayward. Why did this not...
BP had a group-wide corporate system to evaluate risk, introduced by Hayward. Why did this not predicted the Deepwater Horizon disaster?
Homework Answers
The corporate system that was used to evaluate risk at BP was not able to predict the Deepwater Horizon disaster for the primary reason that the system was rendered useless in the face of high degree of complexity that BP’s oil drilling operations in Gulf of Mexico faced. Due to the high degree of risk all the participating parties lost hold of sight over the risk analysis process that was put in place by the company.
The complexity of the system led to the undermining and failure of the corporate system to evaluate risk. BP tried to shift the weight of the blame to Transocean Company, but in fact it was BP itself that failed to foresee this event.
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BP had a group-wide corporate system to evaluate risk,
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