4 entries found for "Risk Analysis"

A Practical Way to Incorporate the New PHMSA Underground Gas Storage Requirements Into your MI Program

by Michael Hurley, 3/11/2021

Tags: Damage Mechanisms Inspection Mechanical Integrity Process Safety Management Regulation Risk Analysis Risk Based Inspection Risk Management

PHMSA has out a new rule for underground natural gas storage facilities (UNGSFs). This is practical approach to incorporating gas wells into your mechanical integrity program with the rest of your surface and subsurface assets.

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Proposed API 581 Inspection Plan Optimization Example

by Michael Hurley, 2/4/2021

Tags: API 581 Mechanical Integrity Process Safety Management Risk Analysis Risk Based Inspection Risk Management Technology

This article deals with a proposal for a risk analysis option that allows for individual damage mechanism risk calculation. This is an example of how it can be applied and how it domonstrates value.

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Proposed API 581 Inspection Plan Optimization

by Michael Hurley, 1/27/2021

Tags: API 581 Mechanical Integrity Process Safety Management Risk Analysis Risk Based Inspection Risk Management Technology

This article deals with a proposal for a risk analysis option that allows for individual damage mechanism risk calculation. This allows for these individual damage mechanism risks to be compared to a risk target that when reached generates an inspection task with its own due date.

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Risk Analysis: Good In, Good Out - A Risk Analyst's View

by John Dickerson, 11/16/2018

Tags: Data Collection Data Validation Risk Analysis Technology

An AOC Team Lead reflects on the importance of ensuring your data is accurate and on the impact that having poor data can have on your risk analysis. Having even just one or two erroneous data points can make all the difference in the risk assigned to an asset and the subsequent inappropriate assignment of maintenance and inspection resources. Assigning low risk to a high risk asset because of bad data can result in unexpected and painful consequences.

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