Risk Management Consultancy
Identify, analyze, assess and mitigate your risks
In a complex and uncertain world, we need to identify, assess and mitigate risks to ensure safety, reliability and efficiency. We deliver a wide range of risk management services including the qualitative, quantitative and probabilistic methods across multiple asset types. To achieve an optimal integrity management process, it is necessary to understand and differentiate between acceptable, tolerable and unacceptable levels of risk, evaluate and prioritize threats, and determine risk control measures.
Your benefits of our risk management consultancy services
Compliance with standards and regulations
Achieving industry best practice in risk management
Long-term consultancy, support and training from an experienced team
Phased approach customized to individual needs and operational and maintenance procedures
Holistic overview of potential risks for management decision support
Providing a Pipeline Risk Assessment Model for every approach
Legislation increasingly demands that pipeline integrity management programs are driven by risk. Industry leaders have demonstrated the overall cost and safety benefits of a risk led approach to integrity management. We can deliver qualitative, semi-quantitative, and fully quantitative risk analysis integrating a range of probabilistic methods. We advise on an approach that is appropriate for the situation, and can work with an existing solution or use our in-house developed modular Pipeline Risk Assessment Model (QPRAM).
Methods and deliverables comply with relevant standards such as API 1160, API501, ASME B31.8S, AS 2885, DNV F116, IGEM TD/2, IGEM/G/7.
Our services include:
- System definition and segmentation
- Threat/hazard identification and susceptibility
- Probability of failure assessment
- Consequence modelling and analysis
- Prioritization of future integrity actions
Justifiable inspection intervals, locations, technologies and interpretation of results
With limited resources at hand, operators need to prioritize and optimize their inspection activities. By developing risk-based inspection (RBI) plans, we help in providing recommendations on the ideal inspection interval, location and technology as well as the right interpretation of inspection results to balance expenditures between low, medium and high-risk items. An effective RBI scheme ideally results in risks that are ALARP, and significant long-term savings compared to prescriptive maintenance.
Our approach integrates subject matter experts (for example in materials, corrosion, and process safety), with robust API aligned tools (API 580/581) to deliver code compliant best practice RBI programs for static equipment (pressure vessels, piping, storage tanks). Our services include:
- RBI development and implementation
- Data collection and integration (Master Equipment List)
- Damage mechanism identification (corrosion circuit identification, etc.)
- Susceptible area mapping
- Condition monitoring location confirmation
- Risk assessment
- Dynamic inspection planning incorporating inspection effectiveness
- Written schemes of examination
- Inspection data quality assessment and grading
- System updating and optimization using inspection results