This book is an exploration of what decision theory has to say about these and other common engineering problems.
The GATE Stream-based HAZOP process avoids these pitfalls via some novel modifications to the process. You can obtain a copy of the book here.
SOPs are important for the safe and effective operation of industrial plants, including oil and gas facilities. But SOPs are frequently developed late in the project, after the design is completed and construction is well underway. And they may be used for little other than operator training. Following startup, they often end up on a shelf collecting dust. Used this way, SOPs have little influence on either the design or the operation of the facility. SOPs can be so much more. They can be both an integral part of the design process and a catalyst for culture change in the industry.