Compliance & Potential Risks

Inspections based on Potential Risk

Inspections Based on Potential Risk are complex processes, which require careful, detailed development and planning. A comprehensive risk-based program typically considers environmental, economic, safety and other factors. Since Inspections Based on Potential Risks involve the safety and integrity of pressure equipment, this information addresses only safety and environmental considerations.

Please note that the intent is not to provide comprehensive information regarding Inspections Based on Potential Risk program development, but to introduce you to our continually expanding knowledge base.

Inspections Based on Potential Risk is a management tool, providing input data to inspection and other improvement requirements as determined by the inherent risk of individual pressure equipment, assembly, skid or plant. The inherent risk of a pressure equipment item can be related to the likelihood of the item to fail, multiplied by the expected consequences.

The likelihood and consequences of failure are determined for each item through qualitative or quantitative assessments. The outcome is strongly related to the available information such as design and operation, operating experience, failure modes, inspection procedures and environment. Depending on the information available, an assessment of the likelihood and the severity of a failure can be determined. Documenting the resulting values in a systematic and logical manner is essential for an effective compliance report. Consequently, this report provides an effective measure to prevent harm from unnecessary lack of product efficiencies.

Pressure equipment determined to be high risk (greater likelihood of failure and consequent causes related to safety), as well as potential reliability and efficiency shortcomings, are subjected to specific inspection plans and procedures. Equipment which is determined to be a lower risk level is subject to other inspection procedures or intervals.

An Inspection Based on Potential Risk approach results in effective management of safety related to pressure equipment and its operation. The findings allow for more efficient allocation of inspection resources, minimizing risk and preventing unnecessarily high costs for inspection. Pertinent information is relayed back to engineering and design, resulting in more effective implementation of improvements in plant safety, reliability, and availability.