Reliability Revolution - Measuring the Value of an RBI Program

How to Measure the Value of an RBI Program - Refiners, Petrochemical and Chemical Manufacturers have documented significant value following the implementation of an RBI program.

Overview

Lunch and Learn (Custom)

How do you measure success?

Perhaps the most impressive measures of success as reported from a number of refining and chemical manufacturers are the value from two related yet completely decoupled measurements: risk reduction and recordable incidents.

This 60-minute lunch and learn will take you through actual case studies where the measured value of these two items alone exceeded hundreds of millions USD in just a few years while recordable incidents dropped as much as 87 percent following the year the RBI program was completed. We will also provide you a scorecard and template for calculating your own value proposition for implementing an RBI program at your site or enterprise. In addition, we will show you the steps in preparing the value contribution from your asset integrity program to meet your corporate goal for return on net assets.

Other reported benefits include:

  • Increased uptime and less production losses due to fewer internal inspections and relief device tests
  • Nearly $5 million inspection labor saved during RBI implementation
  • Ongoing inspection labor savings of $1 million per year
  • The financial benefits by way of risk reduction for the refinery for the FCC block, over a ten year period, was estimated to be $13,510,000. Risk reduction is expected to improve uptime by 0.5 - 1% and reduce high potential incidents
  • Less incidents and releases that can affect your employees and our neighbors=less money spent on clean-up, remediation, and health related costs due to exposures and litigation
  • Increased Operational Asset Utilization (OAU) for the site=lower lost production cost due to leaks and/or releases
  • Lowered reactive maintenance cost=less reactive jobs, less specialized outside contractors (i.e. Team Inc., etc.), and less support activities (i.e. scaffolding, stress relief, etc.)
  • Helped reduce the HPIs by over 60 percent: "Fifty-eight HPIs were recorded in the 5 years (1997-2001) prior to 2002 implementation. Fourteen (14) HPIs have been recorded between 2003 and 2006 (after the program was in place). On average it looks like the RBI Program has helped reduce the HPIs by over 60%," RMC-07-96 Assessing the Value Creation of RBI John Aller Lloyd's Register Capstone; Karen Maxson, DuPont Engineering Reliability and Maintenance Conference and Exhibition May 22-25, 2007 George R. Brown Convention Center, Houston, TX
  • Significant improvements in reliability lead to a measured 96.7 percent asset mechanical reliability
  • Fostering a sense of "Proud Ownership" by all the employees because they know that the facility is taking reasonable and required steps to ensure their safety and the safety of the community by ensuring that the equipment used in the process is fit for service today as well as tomorrow
Reliability Revolution

Lunch and Learn Inquiry

For more information about this course or to inquire about a customized version of this course hosted in-house at our Houston, Texas location or on-site at a location convenient to you, please complete the form below.


Related Services

Risk Based Inspection (RBI) Implementation and Planning

AOC has delivered thousands of sustainable Risk Based Inspection (RBI) programs earning the trust of owner operators.

Damage Mechanism Review / Corrosion Study

One of the most important steps in an RBI project is the corrosion study or damage mechanism review.

End-of-Life, Remaining-Life, and Fitness-for-Service Assessments

When evaluation of inspection results suggest that an asset is near its end of useful life, Fitness for Service evaluations can determine if the asset us suitable for continued operation.

Related Tools

API 580 Work Process Quiz

How well do you know RBI? Take this short quiz to test your knowledge of the API 580 risk-based inspection (RBI) work process.

RBI Potential Savings Calculator

Create mechanical integrity (MI) program value rather than it being seen as a necessary cost to minimize.

Related Training

RBI/MI Overview

A high level overview introducing Mechanical Integrity and Risk Based Inspection

API 580 RBI Overview

What impact does Risk Based Inspection (RBI) have on my organization?

API 580 Training

Is your Risk Based Inspection (RBI) program aligned with the API 580 Recommended Practice? Are you ready for certification?

API 581 Overview

What's actually going on inside all of that fancy software? An introduction to the API 581 methodology.

API 581 Training

A deep dive into quantitative Risk Based Inspection (RBI) as outlined in API 581.

Related Knowledge

Hidden Benefits of Risk Based Inspection (RBI)

What are the hidden benefits of implementing Risk Based Inspection?

Risk Strategies for Pressure Retaining Equipment

What are equipment/inspection strategies in relation to mechanical integrity (MI) and risk based inspection (RBI)?

API 580 (4th edition) Required Elements

What are the requirements of API 580, 4th edition?

How to Incorporate the New PHMSA Underground Gas Storage Requirements

This is a practical approach to incorporating the new PHMSA gas well rules into your integrity program with the rest of your surface and subsurface assets.

Plant Management 101: Common Work Processes

A dysfunctionality found in many refineries, chemical plants, and other production facilities, is a lack of common asset management work processes.

Asset Value Management vs Asset Performance Management

A look at how the financial sector's concept of Asset Value Management can be applied to the petrochemical industry.

Proposed API 581 Inspection Plan Optimization Example

An example to compliment our earlier proposal for a risk analysis option that allows for individual damage mechanism risk calculation in API 581

Proposed API 581 Inspection Plan Optimization

A proposal for a risk analysis option that allows for individual damage mechanism risk calculation in API 581

RBI Value: Both Transitioning And From The Start

A look at how RBI adds value whether you are just starting out or transitioning from a traditional methodology.

Other Benefits of Risk Based Inspection Implementation

A look at several of the secondary benefits of Risk Based Inspection