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Asset Risk Assessment – An Evaluation of Different Inspection Methodologies

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Asset Risk Assessment – An Introduction

Integrity management involves consideration of several different components, such as pipeline design, operation, leak detection, and emergency response. When the focus of an integrity management system is inspection, it is known as ‘Risk-Based Inspection’ (RBI). Within RBI, there are a variety of different systems in use for conducting risk assessments of pipelines, and each methodology needs to be correctly applied to the profile of the operation. Penspen has developed an insight paper that outlines and evaluates the effectiveness of three different approaches to managing risks associated with assets – Ranking, Point Scoring, and Quantified. 

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