Topic: Key Points

Situations in life often permit no delay; and when we cannot determine the action that is certainly the best, we must follow the action that is probably the best. If the action selected is indeed not good, at least the reasons for selecting it are excellent.
–Descartes

Risk Assessment Methodologies

The Basic and Critical Elements of PoF Estimation

Written by WKM Staff on .

Probability of Failure Based on Basic Engineering Principles All plausible failure mechanisms must be included in the assessment of PoF.  Every failure mechanism must be properly measured by independently measuring the following three elements: Exposure (attack) – The unmitigated aggressiveness of the force or process that may precipitate failure.  This includes external forces, corrosion, cracking, […]

Key Points, Risk Assessment, What's New?

Risk Assessment is an investigative journey

Written by WKM Staff on .

Formal risk management has become an essential part of pipelining. As an engineered structure placed in a constantly changing natural environment, a pipeline can be a complex thing. Good risk assessment is an investigation into that complexity; providing an approachable, understandable, manageable incorporation of the physical processes potentially acting on a pipeline: external forces, corrosion, […]

Risk Assessment Methodologies

Risk analyses tools versus risk assessment models

Written by WKM Staff on .

Recent publications on pipeline risk assessment methodologies highlight some confusion regarding tools and models.  There are many useful risk analyses tools that are not risk models — that is, they cannot be used to produce a full risk assessment. See section 3.1 in the text for a complete discussion, but in a nutshell, techniques such […]