Traditional API 581 risk calculation approach can have mixed results for establishing PRVs inspection interval. The problem here is twofold – Probability of Failure (PoF) is low for most cases, therefore Consequence of Failure (CoF) drives risk, leading to impractical inspection frequencies at extreme ends of the spectrum. This coerces the engineering teams to evaluate other more realistic inspection intervals for cost/safety reasons either based on experience or industry data rather than asset information.
Download our whitepaper and learn-
- How a robust risk based strategy in accordance with API 581 can manage inspection programs in downstream industries.
- How the probability of failure be estimated
- How reliability centred analysis of PRV testing intervals can be conducted quickly and effectively based on actual asset performance data
- How this methodology supports timely and effective reduction in OPEX, through reduced maintenance and materials costs, delivering maintenance capacity back to operators