Why Asset-Intensive Industries Need Risk-Based Inspection

Why Asset-Intensive Industries Need Risk-Based Inspection

In asset-intensive industries that deploy fixed equipment subject to deterioration, the task of ensuring mechanical integrity is both a necessity and a challenge. Asset Integrity Management (AIM) programs strive to guarantee safety and reliability. However, at the same time, these programs need to be cost-effective and efficient, allowing organizations to improve profitability.

To meet these targets, companies must be able to optimize and prioritize inspection plans based on the knowledge of risk. Risk-based inspection (RBI) is a proven and standardized methodology that bolsters the ability of industry professionals to make the most appropriate decisions.

Risk-Based Inspection Analysis

Asset Integrity, IIoT, Refinery

RBI analysis provides a standardized and scientific methodology that organizations can leverage to define both the level of risk and the threshold of acceptable risk for their facilities. Unlike condition-based inspection, RBI analysis assesses the probability of failure (PoF) and consequences of failure (CoF). With RBI analysis, organizations gain tools for the assessment and review of damage mechanisms, as well as the tools needed to conduct risk assessments through consistent and repeatable analysis.

RBI supports industry professionals by ranking the assets based on the level of risk and helps these professionals to determine which inspections should be prioritized and which are the most appropriate inspection plans.

RBI analysis provides an overview of the present status of risk of a facility, as well as of the future status, based on the implementation of inspection plans.

Learn more about risk-based inspection. Watch the on-demand webinar “Asset Integrity Management Part II: Risk-Based Inspection.”

Benefits of Risk-Based Inspection

RBI programs ensure higher standards of safety and reliability for asset-intensive organizations and provide compliance with regulatory requirements such as API 581, API 580, API 579, and NACE standards.

With an RBI program in place, organizations can optimize inspection plans and maintenance operations, thus reducing the associated costs.

Organizations can have access to immediate and updated information on the status of risk of their facility; professionals can benefit from a better understanding and knowledge of the plant and are able to improve processes and operations.

Why Use the CBT solution?

Asset-intensive organizations in the oil & gas and petrochemical industry need RBI solutions that can be integrated into their IT platforms. They also need a Domain Expert Integrator that offers information technology and operational technology (IT/OT) convergence to integrate automation, communications, and networking.

CBT provides a solution that delivers a holistic approach for the necessary IT and OT coalescence. We provide a truly seamless integration of the RBI solution with AIM, EAM, ERP, and APM platforms.

We make the RBI results visible and accessible through the Digital Twin, providing color coding of the 3D models and allowing for immediate visualization of the risk status of the plant. The solution provides present and future risk status scenarios in real-time.

We offer a comprehensive suite for Qualitative, Semi-Quantitative, and Quantitative RBI analysis. Our solution is also API 581-2016 compliant as well as fully customizable.

Learn more about risk-based inspection. Participate in the CBT webinar “Asset Integrity Management Part II: Risk-Based Inspection.”

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