What Does
Risk Based Inspection Mean?
Risk based inspection is a business process that is used in the inspection of equipment found in industrial plants including heat exchangers, pressure vessels and piping. Failure probability is assessed by way of examining the HSE and business risk along with the potential damage mechanisms. The assessed risk level will then determine the frequency of future inspections. Risk based inspection analysis may be either quantitative, qualitative or semi-quantitive in their performance.
Safeopedia Explains Risk Based Inspection
Risk based inspections are most frequently used in the oil, gas and engineering industries. Higher risk equipment is given a higher priority for inspection. Those that are high probability, but that have a low failure consequence will be assigned to less frequent inspection. The key objectives of risk based inspections are to enhance risk management results, lower the incidence of equipment failure, and allow for a longer equipment run length without safety compromise.