INTEGRATED RISK-MANAGEMENT MATRICES

An overview of the tools available to reliability professionals for making their organization the best-in-class

By Nathanael Ince, PinnacleARTfeatured in Chemical Engineering, May 2016 Issue

Integrated Risk-Management Matrices, featured in Chemical Engineering, May 2016 Issue

Since the 1960s, process facility operators have made concerted efforts to improve the overall reliability and availability of their plants. From reliability theory to practical advancements in non-destructive examination and condition-monitoring techniques, the industry has significantly evolved and left key operations personnel with more tools at their disposal than ever before. However, this deeper arsenal of tools, coupled with more stringent regulatory scrutiny and internal business pressure, introduces a heightened expectation of performance. Now, more than ever, companies recognize that best-in-class reliability programs not only save lives but increase the bottom line. These programs are also one of the foremost levers for C-level personnel to pull when trying to contend in a competitive environment.

With this in mind, a best-in-class reliability organization combines state-of-the-art theory, software and condition-monitoring techniques with a strong collaboration of departments and associated personnel. An independent risk-based inspection (RBI) program or reliability-centered maintenance (RCM) program no longer…