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 […]
As the practice of pipeline risk assessment continues to advance, we can also focus on the next steps: how do I make sense out of large sets of numbers? what is this risk assessment telling me? Here’s a recent article with some advice: PIN Article: Analyzing Risk Estimates
Pipeline Risk Assessment—Risk Profiling In earlier installments of this column, we introduced the concept of pipeline risk assessment Essential Elements (EE’s). That guideline is a list of ingredients that must be included in any pipeline risk assessment before that assessment can be considered complete. Following these guidelines helps to ensure a technically sound risk assessment […]
Armed with a modern risk assessment, risk management becomes much more transparent and even exciting. Seeing cost/benefits of proposed risk reduction actions provides clarity and, often, some ‘ah-ha!’ moments. Please click this link to read the pdf file of this article.
Risk is PoF x CoF—Where Should the Focus Be? This simple equation: Risk = PoF X CoF shows us that there are two general ways to reduce risk. We can reduce PoF or CoF. On which are our energies best spent? While both are essential, there is a compelling argument to be made […]
In an earlier article, we noted that risk management is, in effect, often unintentionally delegated to decision-makers occupying the lower portions of the corporate org chart. In many companies, the field personnel are essentially setting corporate risk levels via their choices in day-to-day activities and their perceptions of priorities. While we noted some advantages of […]
Ever consider that true risk management sometimes occurs only at the lower levels of some pipeline organizations? That is, personnel performing field activities are in effect setting risk levels for the company. Their choices of day-to-day activities are essentially driving risk management and thereby establishing corporate risk levels. This is not just theoretical—real choices are […]
Articles <!– Where is the Risk Control Strategy? –> Is formal risk assessment helping me? Pipeline risk assessment as a tool for resolving conflict Pipeline risk assessment: risk profiling Full understanding of pipeline risk generates numerous opportunities to reduce that risk. So previous chapters have already identified risk mitigation opportunities. Reducing exposure, increasing mitigation or […]