There are 2 methods using IEEE 1584 equations that provide similar results, but are vastly different in terms of cost and purpose. Most people are familiar with a study with subsequent labeling. First data collection is also usually done - 3 steps. The result is a one-line, short circuit study, protective device coordination study, and last but not least an arc flash study. You should pursue this method if it is needed. It can be very costly, but safety and proper engineering design is important.
The other method is arc flash tables. Rather than relying on NFPA 70E tables, you can refer the equations which are commonly used with software as mentioned above. Flash Table Unlimited offers customers JUST arc flash. If you need to label your equipment you can purchase the tables for $1000 and your electricians can label away. Done! And something easy to keep up with as upgrades and retrofits are made to your plant.
The first step, is to determine what your needs and budget allows. Training and PPE is integral to any arc flash solution, or you are just wasting your money.
You can also implement both resources - a study and then follow up with the arc flash tables (www.arcflashtables.com) that are provided to industrial electricians and field engineers so they can make sure they are safe on every job.