CONSTRUCTION PROJECTS

Risk Based Inspection is a management process by which inspection and other mitigation requirements are determined based on the inherent risk of a pressure equipment item. The inherent risk of an item is considered to be the product of the likelihood of the failure of the item, and of the expected consequences should that failure occur. In general, the risk is determined in accordance with a defined, logical and consistent method as defined in RBI standards such as API RP 580 and CWA 15740 (RIMAP). Based on the outcome of the methods used each pressure equipment item is associated with a risk hazard. Items which exhibit both a high likelihood and high consequence of failure will be identified as requiring the most attention from inspection and other mitigation techniques. Similarly, items with a low likelihood and low consequence of failure would receive a relatively lower degree of attention. The use of a RBI approach to manage pressure equipment safety offers many benefits. The main benefit being the optimization of costs associated with complying with the Pressure Equipment Regulations statutory in-service inspection and testing interval requirements.