Leading and Lagging Indicators in Contractor Management: Using Analytics for Improved Decision MakingABSTRACT Global industry trends indicate increased outsourcing of non-core business activities (i.e. construction, maintenance, engineering, etc.) to third party contractors. Data from several industries shows that contractors face 1.5 to 3 time’s higher incident rates than employees of the outsourcing company. Our presentation discusses leading edge approaches for managing contractor risk, currently implemented by organizations in the oil and gas, pharmaceutical, and manufacturing industries. Utilizing a database of over 25,000 contracting companies and 150 owner/operator companies, the presentation accumulates five years of extensive health and safety data to indicate trends associated with health and safety management and performance improvement. The presentation includes the following key elements: 1. A Process Model |
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