Risk-based inspection (RBI) is an optimal maintenance business process used to examine equipment such as pressure vessels, quick-opening closure - doors, heat exchangers, and piping in industrial plants.
It examines the health, safety and environment and business risk of ‘active’ and ‘potential’ damage mechanisms to assess and rank failure probability and consequence.
Probability of failure is estimated on the basis of the types of degradation mechanisms operating in the component.
Accuracy is a function of analysis methodology, data quality and consistency of execution.
RBI assists a company to select cost effective and appropriate maintenance and inspection tasks and techniques, to minimize efforts and cost, to shift from a reactive to a proactive maintenance regime, to produce an auditable system, to give an agreed-upon operating window, and to implement a risk management tool.