Implementation of a Risk Based Inspection (RBI) Program
The immediate cost saving advantages of adopting an RBI approach to asset integrity management are gaining momentum. Corporations are increasingly realizing that RBI, with its ability to intelligently analyze equipment’s probability of failure (POF) vs consequence of failure (COF), is the prudent approach to managing critical assets. Embracing RBI assures that a structured, systematic, and technically defensible approach is used to make decisions. RBI significantly reduces instances of equipment failure and minimizes unplanned shutdowns.
Risk Based Inspection – Why Consider it?
In the realm of asset integrity management, where every moment counts in financial terms, organizations must prioritize strategies that are not only cost-effective but also prioritize safety, regulatory compliance, asset integrity, operational efficiency, and data-driven decision-making. This is particularly crucial for owner operators who are burdened by unnecessary expenses resulting from over inspection, under inspection and outdated inspection methods. Notably, equipment failures annually cost the US refining industry billions, with a significant portion attributed to static equipment loss of containment.
Asset Integrity Management Technology That Solves Real Business Problems
In asset integrity, effective data management is crucial to enable data correlation, the application of risk models and risk-based inspection scheduling. The Oil & Gas, Chemical, Pipeline and other industry sectors with asset numbers in the thousands struggle with handling vast amount of unrelatable (siloed) data.
Step-by-Step Guide: Integrating Your Inspection Software and CMMS for Maximum Impact
In today’s fast-paced industrial landscape, where asset reliability, safety, and compliance are paramount, seamless integration between different software systems is becoming a necessity rather than a luxury. This holds particularly true for industries like oil and gas, chemicals, and power, where the integrity of assets directly impacts operations, profits, and even human lives. One such powerful integration is between Inspection Software and Computerized Maintenance Management Systems (CMMS). In this guide, we’ll delve into the significance of this integration and how Visions Enterprise® software plays a crucial role in managing and maintaining asset integrity.
Asset Performance Management vs Asset Integrity Management: What’s the Difference? (Part 1)
Two “buzz terms” have been floating around in the world of asset management recently: Asset Performance Management (APM) and Asset Integrity Management (AIM). Semantically, they appear to be very similar. Indeed, that has led to a lot of confusion throughout the industry. Professionals from asset-intensive organizations are often asking: What are these terms? Do they mean the same thing? If not, what’s the difference? Why should I care?