Understanding Risk-Based Inspection and Asset Performance Management

Gartner Research: Financially Optimized Maintenance Planning Using Asset Performance Management

According to Gartner, “RBI based on dollar value of production assets can be used to determine the maintenance frequency for an organization’s most important assets (and determining what those are). Risk-based maintenance (or inspection) assessments are done taking into account the production impact of an asset and the impact of a failure. This provides the value or importance of an asset assessed to determine the maintenance regimen to be followed. (…) RBI analyzes factors, including health, safety and environment, and business risk, which are then used to assess and rank failure probability and consequence. Companies in high-risk environments, such as oil and gas, and nuclear power plants, use risk-based assessments to drive their maintenance planning. They look at production and failure consequence in the bigger picture and not just the mechanical failure probability, which the other methods use. RBI is a subset of the wider APM market and is often found as an independent product, but it is increasingly part of what is offered in APM.”

The basis of Risk-Based Inspection (RBI) software begins with Asset Integrity Management (AIM). If you do not start with AIM, every asset in the facility will be high risk and the cost to implement AIM will be overwhelmingly high. It is nearly impossible to reach a level of APM without a mature AIM program in place.

Antea’s Risk-Based Inspection Software (RBI software) performs qualitative, semi-quantitative and quantitative risk-based analyses to evaluate the probability and severity of failures in facilities. By optimizing inspection strategies, our RBI software branches into Asset Performance Management (APM) software and enhances the performance of assets to increase reliability and availability while minimizing costs and reducing operational risks.

We offer on-premise and cloud-based RBI solutions to help optimize the performance of assets while keeping your team safe with the availability to work remote. Our APM solutions increase reliability and availability, minimize costs and reduce operational risks. You cannot have an optimized APM without the right AIM and RBI for your facility.

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Published 2 August, Refreshed 2 August 2019, Published 9 April 2018.

Analysts: Nicole Foust, Kristian Steenstrup.

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