Topic: Analyses

Seduced by graphics: the myth of risk management by images

While there are a number of visual techniques that can help in interpreting large amounts of data, many graphical analyses provide little to no value for in-depth risk assessment. Here we explore some common graphical techniques and discusses why they can’t replace data analyses in risk management. Seduced by Graphics: The Myth of Risk Management […]

Property Damage vs Release Volume

While we should view database-input information suspiciously, insights may nonetheless emerge.  Joel Anderson recently compared the reported property damage costs with the reported release volumes in PHMSA data 2010 to 2018. spill vol vs prop damage cost This is just pipeline spills, excluding tanks, etc.   Note this plot is log-log scale so small changes can equate […]

Pipeline Hazardous Liquid Spills Analyses

Liq Spills Analyses Here’s some more interesting work from Joel Anderson:  an examination of recent hazardous liquid spill volumes, from the PHMSA reporting databases. Analyses like these not only help us with basic understanding of pipeline releases, but also provide useful input into risk assessments.  In many cases, our estimates of location-specific loss potential are […]

Optimizing the use of Inspection Results

A limitation that continues to plague older risk assessment methodologies is the inability to fully include the results of inspections.  None dispute the value of inspection and its critical role in failure avoidance.  Yet, neither the classical statistics-centric QRA nor the common relative risk ranking methodologies, can capture inspection activity in a meaningful way. A […]

Decision Trees and Risk Assessment

An interesting contribution from Joel Anderson Pipeline Risk algorithms can take in hundreds of variables and perform hundreds more calculations to determine the probability of failure for a given segment of pipe. Trying to determine what threats are biggest contributor to a system’s risk or even over the length of a given line can be […]

Getting in the Ballpark

There exists a type of risk analysis that is even more preliminary than a rudimentary assessment. This might be termed more of a risk conceptualization rather than assessment and is based solely on basic deductive reasoning. Illustrated by an example, an analyst may posit that a pipeline’s future risks will mirror the losses shown by […]