What role does "Regulatory Compliance" play in PSM?

Regulatory compliance is a critical component of Process Safety Management (PSM) because it involves ensuring that organizations adhere to various safety regulations established at local, state, and federal levels. This adherence is vital for protecting employees, the environment, and the community from potential hazards associated with hazardous materials and processes.

In the context of PSM, compliance with safety regulations includes the implementation of safety procedures, hazard assessments, and proper management practices that align with regulatory requirements. By managing these regulations effectively, organizations can minimize the risk of accidents, ensure safe operations, and maintain accountability to regulatory bodies.

While other aspects of compliance, such as financial regulations or environmental regulations, play important roles in overall company governance, they do not specifically address the safety aspects that PSM emphasizes. The focus of PSM is inherently tied to health and safety regulations, making the adherence to local, state, and federal safety regulations essential for fostering a safe working environment.