This poster presents an overview of a Risk Based Management program which is being developed both for the upstream and downstream sectors of the petroleum industry. The methodology is being built upon and around the Risk Based Inspection project which DNV is performing on behalf of the API-Risk Based Inspection committee which is being sponsored by 20 oil and petrochemical companies. Risk based management is a method for using risk as a basis for prioritising and managing inspection, maintenance and operating programs. Actual field studies have demonstrated that a very high percentage of the risk in an operating process plant is associated with relatively few pieces of equipment. Hence by being able to identify that equipment, inspection, maintenance and operating practices can be implemented which will result both in the greatest risk reduction as well as reducing operating expenditures. The influence of inspection, maintenance and operating practices on risk is evaluated and options for resultant risk reductions are modelled by the methodology. This provides an Operator the ability to target his finite resources on high risk items yet at the same time assuring an appropriate level of effort is expended on lower risk equipment.


Since the term and for concept of Asset Integrity Management (AIM) was first developed the focus has been on the assuring the technical integrity of an operator's plant and equipment. In many cases one of the driving forces behind the implementation of AIM was the need to comply with regulatory requirements. However since the first developments of the AIM principles, many approaches have been devised with the intent of improving the efficiency of inspection and maintenance activities. For example: o Communication and empowerment - Total quality management (TQM) - Total productive maintenance (TPM) o ‘Reactive’ to ‘proactive’ maintenance - Preventive maintenance (PM) ~ Predictive maintenance (PdM) - Reliability centered maintenance (RCM) o Maintenance for a reason All too often, the result of such approaches is that there is more work to be done than there are people, time or budget to do them. Recently developed risk based techniques and technologies provide one way out of this problem. Reasons why risk provides a good basis for action us. inaction are: - Very large differences in Risk among all failure causes that could be addressed. - Five orders of magnitude differences between highest and lowest Risk are not unusual. - Highest priority items stand out from the rest. - Risk can be measured as economic loss (or gain One such technique entitled Risk Based Inspection (RBI) examines each equipment item utilizing a formal and systematic process to determine the risk to operations as the product of the likelihood

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