OnePM captures integrity-related failure mechanisms and supports next inspection interval determination based on a calculated model, half-life or a rule-based matrix determination. Risk-based inspection is based upon the principle that the next inspection interval is set based on the risk of failure.
The risk is determined by the severity of the failure and the current estimation of the likelihood of the failure occurring. The current estimation of likelihood is based on the accepted degradation curve and the current level of degradation recorded on the latest inspection.
To support the risk-based inspection, interval determination, OnePM allows for the collection of inspection data points. The data is collected, stored and trended to show the actual degradation curve for each failure mechanism.
The inspection data is used to determine the current level of degradation such that the next inspection interval can be calculated.
The historical data can support the further refinement of the associated strategies and improves the accuracy of cost and performance forecasts.