The use of risk assessment for optimising maintenance expenditure

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The use of risk assessment for optimising maintenance expenditure

Argent, C.J. / Diggory, S. / Healy, J.

This paper reviews the techniques available for risk assessment of pipelines and concludes that a semi-quantitative approach is most useful for providing both an assessment of risk and consequences and for providing focus for maintenance expenditure. A structure for threat assessment is proposed based on the identification of active degradation mechanisms and the appropriate control measures. All the criteria for threat assessment are traceable to codes and standards. The paper concludes with a discussion of failure mode and the options for assessing consequences. A monetary assessment of consequences is preferred but it is acknowledged that this may not be acceptable to all operators. Optimising maintenance expenditure does not necessarily mean cheaper. It does mean focusing expenditure where it is needed for the effective preservation of pipeline integrity. A risk assessment system that allows full traceability back to industry standards and industry best practice provides maximum benefit to the pipeline operator. The results of the risk assessment provide an objective identification of active threats to pipeline integrity and a first level benchmarking of the operators procedures with regard to industry best practice.