The Industry Challenge:
Pipeline regulators are requesting more rigorous, quantitative models to increase traceability, objectivity and consistency of risk assessments.
This includes incorporating various engineering models that account for the uncertainties inherent in the analysis such as measurement accuracy, variability in material properties and manufacturing tolerances.
A comprehensive risk analysis must also consider a broad spectrum of threats including damage mechanisms as diverse as third‑party damage, corrosion and manufacturing defects that could lead to failures.
Similarly, analysis of the consequences of events must use a consistent framework to evaluate the impact in terms of environmental, economic and life safety.
Operators are developing maintenance plans that effectively manage the risk with finite resources. In most instances, there are several different options for reducing the risk on a particular segment of pipe, with each options having an associated cost and an expected reduction in the risk.
Operators must balance cost and risk reduction to optimize the benefit from their maintenance budget.
How Piramid Helps:
PIRAMID™ is a risk-based integrity assessment and maintenance planning software tool for pipelines.
It uses a quantitative approach to estimate financial, environmental and safety risks. State-of-the-art, verified engineering models are used to calculate failure probabilities, failure consequences and risk levels for all major threats to pipeline integrity.
It assists operators in making integrity maintenance decisions that ensure regulatory compliance, reduce failure frequency, minimize risk exposure, and extend service life.
Users can also develop risk profiles, evaluate and rank pipeline segments with respect to risk and identify high-consequence areas. Users can also conduct “what if” analyses to compare the cost of various integrity management options with the amount of risk reduction expected to develop optimized maintenance plans.
The quantitative approach to risk analysis provides objective, transparent support for operational and maintenance decisions that can withstand the scrutiny of regulatory audits.