Risk Based Inspection – Metric

Risk based inspection Metric     Risk Based Inspection is a study to develop inspection plan based on equipment risk ranking. Mathematically, Risk is defined as PoF x CoF. What is PoF ? PoF or Probability of failure is a rank that tell us about how likely a equipment will fail. CoF or Consequence of failure is a rank that tell us about how much failure impacts. In a simple way PoF, CoF and Risk are 3 terms that we used to rank all equipment in a company. Risk based inspection metric may consist of 3×3 , 4×4, 5×5 or[…]

Read more