RISK BASED INSPECTION

Risk allows people to view potential hazards that simultaneously accounts for both the likelihood and consequences of an event.

Risk Based Inspection (RBI) is a systematic tool that helps users make informed business decisions regarding inspection and maintenance spending.

RRS can assist in the following RBI activities:

• Evaluate current inspection plans to determine priorities for inspections
• Evaluate future plans for decision making
• Evaluate changes to basic operations as they affect equipment integrity
• Identify critical contributors to risk that may otherwise be overlooked
• Establish economic optimum levels of inspection as weighed against risk reduction
• Incorporate "Acceptable Risk" levels

Why do we need RBI?

• Most inspection codes/standards based on LOF, not COF
• Reduce risk of high consequence failures
• Improve the cost effectiveness of inspection and maintenance resources
• Provide a basis for shifting resources from lower to higher risk equipment
• Measure and understand the risks associated with current inspection programs
• Measure risk reduction as a result of inspection practices

RRS can assist in implementing cost effective risk based inspection programs. Complete RBI solutions include risk analysis, program development and implementation, equipment ranking and training. We employ the API 580 Risk- Based Inspection methodology, thereby offering a standardized and accepted methodology for asset integrity.