In recent editions of API STD 653, Tank Inspection, Repair, Alteration and Reconstruction, the use of risk-based inspection (RBI) has been permitted as a means of determining the next inspection date for initial and subsequent internal inspection of storage tanks. In accordance with API 653, the RBI assessment must consist of a systematic evaluation of risk, which is the product of the likelihood or probability of failure (POF), and the associated consequence of failure (COF) in accordance with API RP 580, Risk-Based Inspection. To evaluate a tank’s risk of failing, tank RBI methodologies range from highly qualitative (various tank experts subjectively ranking POF and COF) to quantitative (POF and COF calculated based on various design, inspection, operations, and maintenance factors). One highly quantitative method of performing the systematic risk evaluation required by API 653 is the tank RBI technology detailed in API RP 581, Risk-Based Inspection Methodology.
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