Life cycle risk assessment is an interesting topic in and beyond the integrity management field. This article features a discussion of this special type of risk assessment applied to a certain pipeline installation method, in this case, HDD installation. In previous articles, we’ve discussed some non-regulatory integrity management program applications of pipeline risk assessment (including […]
Results for Risk Management
Avoiding Missteps: Risk vs Rate of Risk
Forming a strategy to mitigate pipeline risks can be complicated by how the length of an asset impacts the numbers. Data and statistics must be carefully considered and interpreted in light of the ‘length’ factor. This article discusses a subtle but critical aspect of understanding risk on a long, linear asset like a pipeline. Risk […]
Analyzing Risk Estimates
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 […]
Exciting Times for Pipeline Risk Management
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?
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 […]
Quantifying potential consequences with a common scale can be challenging. Using a measure such as cost—the monetized loss associated with the damages—forces some difficult judgments to be made among various receptor damages. For example, not only must a value be assigned to a statistical human life, but also to various injury types, environmental damage, damage […]
Where is the Risk Control Strategy?
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 […]
Pipeline Risk Assessment–The Trouble with Weightings
Tackling specifics of pipeline risk in bite-sized portions to make this challenging subject more approachable. Troubles with Weightings There is currently great disparity in approaches and level of rigor applied to risk assessment by pipeline operators. This is largely due to the absence of complete standards or guidelines covering this complex topic. The disparity leads […]
Formal Risk Assessment—Is it helping me?
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 […]