Risk Based Asset Management - Delivering and Sustaining Value Across a Mid-Sized Refining Enterprise (RMC-09-45)


The key to sustaining the value from a reliability-based mechanical integrity (RBMI) program begins with program ownership and continues with best practice management systems. We began our RBMI program with a pilot study in 2005 at one of our refineries. The pilot involved migrating our time-based fixed equipment inspection program to a RBMI program for eight process units. The study cost approximately $400,000 and was completed in less than four months. The return on that investment yielded a payback in less than twelve months and a value that exceeded $2.5 million in turnaround cost savings and quickly delivered almost seven million dollars in risk reduction.

- NPRA Reliability & Maintenance Conference & Exhibition,

Risk Based Asset Management

RMC-09-45 - Risk Based Asset Management - Delivering and Sustaining Value Across a Mid-Sized Refining Enterprise

Abstract

This paper describes the business case developed for this program and it will also describe some of our realized benefits to date and how we are measuring the on-going value of the program.

Table of Contents

  • Corporate Background
  • Introduction - Risk Based Inspection (RBI)
  • Creating Value with an RBMI Program
  • The RBMI Project
  • KPIs - The Cumulative Risk Curve as a Leading Risk Indicator
  • The Business Case
  • Managing the Program - The Evergreen Process
  • The Implementation - From Pilot Project to General Rollout
  • The Bigger Picture - People, Process and Technology
  • Realized RBMI Implementation Benefits
  • Conclusions

Conclusions

  • Pilot project executed in 2005 at GER
  • Comprehensive refinery implementations were executed to completion
  • All TA inspection workscopes for major TA's executed subsequent to RBI implementation at sites incorporated all RBI inspection planning recommendations
  • Formal Inspection department training completed for RBI program use at all implemented sites
  • Enterprise RBI QA manual and inspection strategies have been developed
  • Enterprise and Site RBI KPIs have been developed

This paper was presented at the NPRA Reliability and Maintenance Conference and Exhibition May 19-22, 2009; Grapevine, TX, RMC-09-45 on 5/19/2009

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