Benefits
Why use PRA?
Integrity Threat Assessment
Risk Informed Decision Making
Quantitative Risk Modeling
Enterprise Wide Solutions
QUANTITATIVE RISK MODELING
WHAT CAN A PRA MODEL DELIVER?
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The quantification of risk in a PRA model yields a comprehensive, unique set of scenarios representing the system annualized operational risk. These models provide the organizational framework to expand and develop strategies to improve the safety of their systems and people while focusing on better allocation of resources.
PRA models are unique in they facilitate the evaluation of risk in a manner that allows an operator to evaluate risk in context with appropriate risk tolerances. These models account for the successive threats, defenses, barriers and safeguards built into the design, operation, testing and maintenance of the pipeline systems, structures, components, and people. When done well, the benefits include expanded hazard recognition and increased confidence in threat assessment and risk determinations.
The ability to assess integrated risk and outcomes serves to foster engagement across an operators’ programs. Here are just a few solutions a PRA approach helps achieve.
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PRA applications
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Integrity Management Programs
Pipeline Safety Management Systems
Enterprise Solutions
The principles of pipeline and facility Integrity Management are incorporated either directly or indirectly in the risk assessment process. Results from a PRA model support risk-based decisions both at the segment level and across threat classes.
As part of a robust safety culture, elements of API RP 1173 establish the requirements for a quality risk management program to both manage the complexity of performance processes and improve safe operations through the risk evaluation actions throughout the pipeline life cycle.
Integrity risk metrics and insights provide an integrated picture supported analytically and remove human subjectivity within the operator’s organization to best balance the prioritization and allocation of resources.
risk modeling
Benefits
Applications
Applications
risk modeling
Benefits
Probabilistic Risk Assessment (PRA) is recognized by PHMSA as the only “best practice” method to address uncertainty and to support all aspects of risk management decisions.
UNDERSTANDING
ENTERPRISE RISK
Discover why PRA is Best Practice
Quantitative Risk Measures
Human Performance
Life Cycle Value
Uncertainty Analysis
Quantitative metrics
The use of PRA methodologies facilitates the computation of quantitative risk metrics that enable operators to objectively evaluate and understand risk across their assets and over time.
Improved performance
The application of a PRA approach provides the framework to support the integrated analysis of the operational design, system availability, component reliability, and failure modes and mechanisms with the potential to impact the performance of the asset.
Compliance
The requirements to assess risks using Probabilistic Risk Assessment (PRA) models and methodologies is currently required under regulations issued by other US regulatory authorities including the NRC and BSEE.
More informed decisions
Probabilistic risk metrics aid organizations to better understand potential threats, to facilitate risk-informed decision-making, and to communicate these risk results across their assets and within their organization systems.
Integrity Threat Assessment
PRA improves integrity threat assessment by employing a performance based approach instead of more ‘rule of thumb” prescriptive based measures.
Risk Informed Decision Making
Probabilistic Risk metrics help organizations to better understand potential threats, to facilitate risk-informed decision making, and to communicate these risk results across their assets and organization.
Quantitative Risk Modeling
The use of PRA methodologies facilitates the computation of quantitative risk metrics that enable operators to objectively express risk in measures of risk tolerance to better understand risk across their assets and over time.
Enterprise Wide Solutions
The foundation provided from the utilization of PRA models can lead to the optimization of risk to best respond to fleet wide strategies for mitigation, monitoring and inspection of pipeline, facility and other O&G assets conditions.
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Explore Chart
Explore Chart
Explore graphS
Programmatic Interation And Engagement
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Pellentesque id orci dui. Nulla pulvinar felis justo, non tempus nisl tincidunt eu.
Programmatic Interation And Engagement
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Pellentesque id orci dui. Nulla pulvinar felis justo, non tempus nisl tincidunt eu.
Programmatic Interation And Engagement
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Pellentesque id orci dui. Nulla pulvinar felis justo, non tempus nisl tincidunt eu.
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Integrity Threat Assessment
Quantitative Risk Modeling
Risk Informed Decision Making
Enterprise Wide Solutions
Integrity Threat Assessment
PRA improves to integrity threat assessment by employing a performance based approach instead of more ‘rule of thumb” prescriptive based measures.
Quantitative Risk Modeling
The use of PRA methodologies facilitates the computation of quantitative risk metrics that enable operators to objectively express risk in measures of risk tolerance to better understand risk across their assets and over time.
Risk Informed Decision Making
The foundation provided from the utilization of PRA models can lead to the optimization of risk to best respond to fleet wide strategies for mitigation, monitoring and inspection of pipeline, facility and other O&G assets conditions.
Enterprise Wide Solutions
The foundation provided from the utilization of PRA models can lead to the optimization of risk to best respond to fleet wide strategies for mitigation, monitoring and inspection of pipeline, facility and other O&G assets conditions.
*tap to learn more
pipeline safety management systems
Explore Chart
As part of a robust safety culture, elements of API RP 1173 establish the requirements for a quality risk management program to both manage the complexity of performance processes and improve safe operations through the risk evaluation actions throughout the pipeline life cycle.
enterprise solutions
Explore Graphs
Integrity risk metrics and insights provide an integrated picture supported analytically and remove human subjectivity within the operator’s organization to best balance the prioritization and allocation of resources.
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Programmatic Interation And Engagement
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Pellentesque id orci dui. Nulla pulvinar felis justo, non tempus nisl tincidunt eu.
Discover why PRA is Best Practice
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Quantitative Risk Measures
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Significant value is found in measuring and understanding performance in quantitative terms which include the consistent and comparable measure that allows you to see performance over time or in particular contexts.
Life Cycle Value
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Unearth the value from a PRA risk framework to balance asset costs while maintaining acceptable organizational measures of risk and performance
Human Performance
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Explore the role of your people in the mitigation and prevention of unsafe conditions and accidents to protect your communities and promote safe actions.
Uncertainty Analysis
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PRA models help organizations gain confidence with the risk outcomes given the “unknowns“ inherent with large datasets, subject matter inputs and areas where knowledge is limited.
Uncertainty Analysis
PRA models help organizations gain confidence with the risk outcomes given the “unknowns“ inherent with large datasets, subject matter inputs and areas where knowledge is limited.
Life Cycle Value
Unearth the value from a PRA risk framework to balance asset costs while maintaining acceptable organizational measures of risk and performance
Human Performance
Explore the role of your people in the mitigation and prevention of unsafe conditions and accidents to protect your communities and promote safe actions.
Quantitative Risk Measures
Significant value is found in measuring and understanding performance in quantitative terms which include the consistent and comparable measure that allows you to see performance over time or in particular contexts.
*tap to learn more