Dynamic Risk
Increasing pipeline efficiency and reliability while pioneering new technology
Laying the foundation for greater efficiency, Dynamic Risk proves to be an industry leader
Founded in 1996, Dynamic Risk began with a vision to reshape the way pipeline operators ensure their assets are fit for service and safe to operate. Today, this company is a world leader in pipeline risk and integrity management, working to guide the industry toward true efficiency throughout the asset life cycle.
Dynamic Risk is part of Previan, a fast-growing, innovative, and private industrial technology group focused on advanced diagnostic technologies to monitor the world’s infrastructure health. Dynamic Risk’s technology-enabled solutions support Previan’s mission to make a safe and sustainable future possible and preservice the integrity of our world’s critical infrastructure and assets.
Dynamic Risk offers a comprehensive suite of products and expertise that includes but is not limited to Consulting (engineering assistance, field services, management & advisory consulting, enterprise risk management, upstream services, pipeline reliability assurance management), Predictive Analytics (projects insight, data validation, and data quality assessment), and Software supporting Pipeline Risk Management and Upstream & Midstream Integrity Management.
Senior representatives Shamus McDonnell (President) and Patrick Vieth (Senior Vice President), share their unique insights into Dynamic Risk’s beginnings, evolution, and future.
McDonnell begins, “Dynamic Risk entered the market 25 years ago with software carefully designed to apply risk assessment models specifically to the pipeline industry. Over the last 10 to 15 years, we have grown to provide high-level consulting for failure instances, challenges affecting the building or rerouting of assets, and even litigious matters. Most specifically we apply our skills and expertise to support operators to address critical pipeline regulations.”
“It’s important to be directly involved in advancing our industry forward as regulations and policies become stricter. There is often opposition to energy pipelines being built; the “not in my backyard” mentality so to speak. So, a big part of our role is educating and building confidence surrounding the safe and efficient operation of pipeline infrastructure,” he adds.
Vieth shares, “Our offering may be best summarized as pipeline asset management that provides risk-informed decision-making. Asset management of energy pipeline infrastructure requires effective prioritization and a deep understanding of risks and consequences, whether they be associated with personal safety, environmental responsibility, business viability, or operator reputations.
As a business-to-business organization, Dynamic Risk acknowledges the importance of strategic thought leadership and strong industry partners. McDonnell explains, “We have formed several consortiums with large pipeline companies, which provides the opportunity to explore current and future needs for pipeline performance and predict what will be required to not only be compliant with changing and increasing regulations, but to ensure best practices for pipeline safety and reliability are being recognized and accomplished. We are fortunate to partner with market leaders and regulators alike to shape the future of our industry.”
“We have head office locations in both Canada and the United States, with our team based across North America and Europe. Our engineering and software development teams are composed of over 120 individuals, most of whom have worked for an operator or ILI company before and therefore bring critical domain expertise to all of our client projects.
A key priority for Dynamic Risk remains the personal safety of all those living around and working with pipeline assets Vieth comments, “We recognize that pipelines transport hydrocarbons through populated areas, and that carries a certain level of risk. Some pipelines may have been built decades ago, and society has essentially encroached on their location over that time, and others have been rerouted through the areas in which people live, work, and travel.”
“So certainly, the assessment of this level of risk and how our operators respond to it is the first priority. Ecologically, depending on the product being transported, the level of risk to surrounding environments varies. It could be liquid products like crude oil, or refined products such as gasoline. Proximity to waterways, for example, is something we look at very closely. Business and societal risks are also assessed by us, largely based on their potential to affect reliable energy distribution in times of great demand,” he continues.
Sustainability continues to be a hot topic for those involved in the pipeline industry, but maintaining the integrity of existing infrastructure remains just as important as identifying alternatives, McDonnell explains.
“The ability to replace or refurbish aging infrastructure to growing societal needs is a real challenge. Obviously, our world has very valuable aspirations to reduce our dependence on hydrocarbons for energy. It’s important to understand, however, that current infrastructure is still critically important, and in order to get through any proposed transition period, we will need to upgrade and sustain our current systems.”
He adds, “We also need to recognize that a lot of the electricity used today is powered by natural gas and other hydrocarbons, so there is still a certain level of dependency upon it regardless. We are in the transportation business far more so than the oil and gas business, and the safest, most energy-efficient, and least disruptive way to transport these kinds of materials is with pipelines.”
Vieth continues with a note to some of Dynamic Risk’s current partners and collaborators. “We have great ties with several technical and industry associations such as API (American Petroleum Institute), PHMSA (Pipeline and Hazardous Materials Safety Administration), ASME (American Society of Mechanical Engineers), and INGAA (Interstate Natural Gas Association of America). I would also like to mention the young professional organization, Young Pipeliners International (YPI). This is an umbrella organization that brings together regional Young Pipeliners groups from across the world. It is a vital resource for the next generation of operators, to prepare them for their duty of care to the pipeline industry.” Dynamic Risk has invested in the support of YPI through mentoring and growth opportunities.
Looking ahead, Dynamic Risk is currently investing heavily in the development of predictive analytics technology, which assists operators in forecasting their risk profiles as far into the future as possible. The company does this, McDonnell explains, through the use of machine learning and data validation.
“We have a vast amount of data provided by our current database users, to develop and test predictive analytics solutions for reliability. Historically, our industry is compliance driven. We want to change that; we want operators to be getting ahead of the next inspection and looking at what they can do now that will mean pipelines operate more safely and efficiently in the future. It’s a new chapter for us, and a key focus moving forward.”
Other goals for Dynamic Risk in the future include expansion and knowledge-sharing to improve pipeline safety in other parts of the world, as well as developing partnerships with like-minded organizations and industry leaders in the interests of shaping and addressing industry regulations. Watch this space!
Textrix Inc. (Textrix) specializes in automated Microsoft Word template systems for large-to-giga projects, and multinational clients. Automated solutions are scalable: the bigger the scale, the more time saved. Recently, Textrix deployed enhanced automation in Microsoft Word and trained dozens of Dynamic Risk engineers in its use. This specialized, precision, power drill makes a conventional Word template seem like a hand drill.
“Mr. Derek Rosner, Director of Textrix Inc., has been instrumental over the years in helping Dynamic Risk set editorial styles and create report templates that present our work products in a highly professional manner. He also has innovated automation in our templates to streamline and remove common opportunities for inconsistencies. On our most critical reports (i.e., legal, regulatory, major projects), Derek lends his editorial prowess to help us ensure the highest written quality product possible. He is one in a million and we’re lucky to have him as a partner” – Mr. Steve Biagiotti, Chief Engineer, Dynamic Risk.
Textrix and Dynamic Risk have been proud, productive partners since 2017.
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AT A GLANCE
Dynamic Risk
What: Global technology service provider revolutionizing pipeline integrity management
Where: Dynamic Risk is headquartered in Alberta (Canada) and The Woodlands, TX (United States)
Website: https://dynamicrisk.net/
PREFERRED VENDORS
Textrix Inc. – textrixinc@textrix.ca
Textrix Inc. specializes in automated Microsoft Word template systems for large-to-giga projects, and multinational clients. Automated solutions are scalable: the bigger the scale, the more time saved. Recently, Textrix deployed enhanced automation in Microsoft Word and trained dozens of Dynamic Risk engineers in its use. This powerful, precision, power drill makes a conventional Word template seem like a hand drill. Textrix and Dynamic Risk have been proud, productive partners since 2017.
