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Minimizing Risk and Improving Operational Availability in the Pipeline Industry FREE

[+] Author Affiliations
Paul G. A. Raynor

ACM Automation

Paper No. IPC2000-103, pp. V001T01A004; 7 pages
doi:10.1115/IPC2000-103
From:
  • 2000 3rd International Pipeline Conference
  • Volume 1: Codes, Standards and Regulations; Design and Constructions; Environmental; GIS/Database Development; Innovative Projects and Emerging Issues
  • Calgary, Alberta, Canada, October 1–5, 2000
  • Conference Sponsors: Pipeline Division
  • ISBN: 978-0-7918-4024-5
  • Copyright © 2000 by ASME

abstract

Risk is a function of the probability and consequence of an event that negatively impacts pipeline operations. These events may range from the shut-in of a compressor to a pipeline rupture. In order to quantify risk, it is important to have a thorough method of evaluating the probability and severity of the incident. Until recently, the methods used to assess risk have been mostly subjective and qualitative. Enhanced methods are now available that allow pipeline companies to gain a better understanding of the true risk and to realistically determine the availability and reliability of the pipeline. These methods facilitate balancing the cost of extra safeguards or protection layers with the actual risk of an event occurring, ultimately improving the financial success of a pipeline company.

Copyright © 2000 by ASME
Topics: Pipelines , Risk
This article is only available in the PDF format.

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