How much confidence do I need to have in what I believe to be the condition of my equipment?
Being able to answer this question is one of the primary advantages of a well-implemented risk-based inspection (RBI) program. Inspection professionals at operating sites around the world have been implementing RBI since the mid-90's in order to better identify and understand risk, risk drivers, and where equipment is in its lifecycle. However, many still question whether this methodology is right for their site. Much of this resistance may be due to a lack of knowledge or a poor experience with prior implementation. Below are five common misconceptions about RBI that should not prevent you from gaining a more advanced understanding of the true state of your site's equipment. After all, the more we know, the better we can manage equipment integrity and make run/inspect/modify/repair/replace decisions.