Plant maintenance and inspection resources should be used preferentially on high-risk assets, meaning those that have the potential to cause serious disruption in plant operations or cause an unplanned shutdown.  The priority treatment of high-risk assets must be balanced, however, by providing sufficient maintenance and inspection for other (lower-risk) equipment to avoid the emergence or growth of problems over time.  This approach recognizes that a relatively small percentage of plant equipment accounts for a very large percentage of risk (both disruption/shutdown risk and safety risk).  Risk-Based Asset Management begins with identification of high-risk assets, and then proceeds to assess equipment condition, evaluate maintenance and inspection programs, study operating protocols, and estimate life consumption of these priority assets – in relation to or considering the likelihood and consequences of mechanical failure.  This information is then used to modify and optimize inspection and maintenance programs, audit procedures, operating limits, and safety information.  Quest Reliability provides the following services and products for Risk-Based Asset Management:

• Risk-Based Inspection:
  A systematic procedure for identifying high-risk assets, following the protocol of API 580 and criticality ranking of API 581
• Inspection Program Optimization: 
  Implementation of a meticulously organized program of inspection and maintenance procedures, analysis, optimization and documentation.  Includes:
  • Implementation of RMS™ software – a versatile, RBI solution framework and database management system
  • Preparation of inspection and maintenance plans and manuals
  • In depth analysis of condition and failure data, in support of operational optimization and shutdown planning
• Statistical Analysis of Inspection Data:
  Management of uncertainty of sample-based inspection and testing data to support quality decisions cost-effectively
• Extreme Value Statistical Analysis: 
  Efficient determination of the maximum extent of damage from continuous physical processes (e.g., corrosion), from limited data
• Plant shutdown and turnaround services:  detailed, risk-based planning of shutdown activities; management of shutdown inspections to complete critical evaluations and maintenance/replacements within a narrow timeframe
• Expert/technical support: 
  Provision of very senior, experienced reliability engineers and shutdown managers to support a customer’s asset management objectives; provision of experts in structural integrity, materials engineering and advanced NDT as needed

For further information about Risk-Based Asset Management please contact us.