As monetization of risk becomes more mainstream, values must be assigned to the potential for human injury or fatality. The risk assessor need not generate values himself since such numbers are published in various sources. This includes values that have been used in US government decision-making for years. Here is some example guidance: VSL Guidance 2013 […]
Posts from October 2017
Can you explain more about Geohazards and Weather-Related Outside Forces?
Geohazards and Weather-Related Outside Force The threat category ‘Outside Force’ in a risk assessment typically includes forces such as ground/earth movement, flooding, cold weather, and lightning. When buried pipelines cross sloping terrain, there is a danger that soil movement (down the slope) will impose an excessive load on the pipe that could lead to failure. […]
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 […]
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 […]