Security
programs must address two critical operational challenges.
These challenges are the protection
of existing networks and the prevention of losses during project
construction.
This issue will address the area of new pipeline project
construction.
The first step in any security program is to conduct a
comprehensive risk analysis. This step may reveal potential loss
events including fraud, theft and sabotage.
Fraud losses may be incurred during the acquisition of material
and in provision of project related services.
A review of existing procedures may reveal opportunities for
misuse of corporate funds and assets.
Theft and Sabotage losses can be caused to material including
valve assemblies, compressors, metering equipment and pipe.
The theft of portable items including hand and power tools is
often costly and always inconvenient. Deliberate damage to pipe,
welding equipment or heavy pipeline equipment will delay projects
and affect profitability.
Some areas of critical vulnerability include manufacturing
facility material's storage, transportation of fabricated
assemblies, pipe stockpile locations and assets on the project
right of way.
In the next issue we will discuss some strategies to protect
these areas.
