Inspectioneering
Video

Whiteboard Discussion: Foundational Principles of Risk-Based Inspection

February 17, 2017

Video Description

In Inspectioneering’s inaugural Whiteboard Discussion video, Chief Editor Greg Alvarado takes a few minutes to explain the impact of uncertainty on risk analysis and how it should be handled according to the API RP 581 methodology: "How much confidence do I need to have in what I believe to be the true damage state of the equipment?" The risk threshold or target (there may be other targets such as a damage factor target) will dictate when more information is needed to drive down the calculated risk, if it is possible (i.e., the equipment in actuality is not nearing end of useful life). API RP 581 reduces or artificially raises the damage factor (associated with Probability of Failure) in the absence of data. This is common of the Bayesian approach in managing uncertainty. The intent is to only require investing in inspection, or other risk mitigation actions, such as installing a liner or cladding, or upgrading materials of construction if it is truly necessary.

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Comments and Discussion

Posted by Abdulrahman Alghamdi on February 27, 2017
Thank you so much Greg for this outstanding video... Log in or register to read the rest of this comment.

Posted by Bryan Jones on February 27, 2017
Thank You for contributing Greg. Log in or register to read the rest of this comment.

Posted by Ibrahim Kodssi on February 27, 2017
This video touches on asset inspection management... Log in or register to read the rest of this comment.

(Inspectioneering) Posted by Greg Alvarado on February 28, 2017
Yes Ibrahim. The amount of risk resulting from... Log in or register to read the rest of this comment.

Posted by Ted Kobel on February 28, 2017
How is the risk analysis typically accomplished? Log in or register to read the rest of this comment.

(Inspectioneering) Posted by Greg Alvarado on February 28, 2017
Credible, defensible interdependent RBI... Log in or register to read the rest of this comment.

Posted by Sajimon Abdul Samad on March 1, 2017
Great effort Greg, appreciated and thank you for... Log in or register to read the rest of this comment.

(Inspectioneering) Posted by Greg Alvarado on March 1, 2017
Thank you Saji! There is a detailed answer to... Log in or register to read the rest of this comment.

Posted by Ted Kobel on March 1, 2017
Thanks for this information Greg. I'll look up... Log in or register to read the rest of this comment.

Posted by Cesar Perez on March 11, 2017
Great presentation.. Log in or register to read the rest of this comment.

Posted by Soheil Azad on August 22, 2017
Great presentation, excellent Log in or register to read the rest of this comment.

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