26.08.2014 Views

Risk-Based Inspection

API ICP Self Study Notes

API ICP Self Study Notes

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

12.2.2 Calculate <strong>Risk</strong> 计 算 风 险<br />

Referring back to the risk equation:<br />

<strong>Risk</strong> = Probability × Consequence<br />

It is now possible to calculate the risk for each specific consequence. The risk<br />

equation can now be stated as:<br />

<strong>Risk</strong> of a Specific Consequence = (Probability of a Specific<br />

Consequence) × (Specific Consequence)<br />

The total risk is the sum of the individual risks for each specific consequence.<br />

Often one probability/consequence pair will be dominant and the total risk can<br />

be approximated by the risk of the dominant scenario. For the example<br />

mentioned in 12.2.1, if the consequence of a fire had been assessed at $1 ×<br />

10 7 then the resulting risk would be:<br />

<strong>Risk</strong> of Fire = (1 × 10 –5 per year) × ($1 × 10 7 ) = $100/year<br />

Overall risk?<br />

API 580<br />

Charlie Chong/ Fion Zhang

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!