Risk Assessment
Whether you’re concerned about a facility site, a pipeline system that spans several provinces or states, or the disruption costs associated with outages on your gas distribution system, risk assessment is critical to your integrity management program. We specialize in qualitative and quantitative risk assessment techniques and deliver industry-specific risk algorithms that are proven with regulatory authorities. Our risk assessment services include:
Gathering and Transmission
- Qualitative & Quantitative Assessments (Reliability-based)
- Includes both Liquids and Gas or Mixed Product Systems
Distribution
- Cast Iron, Polyethylene, Copper
- Consequence tree modeling
Facility Risk Assessment
Qualitative and Quantitative Risk Assessment
At Dynamic Risk, we develop and implement industry-specific risk algorithms that meet all regulatory requirements as well as reflect the unique operating conditions that may exist on your system. As the leading industry provider of risk-based engineering solutions, we have proven our approach and models across a wide spectrum of applications and regulatory bodies in North America and overseas. This structured approach removes the possibility for subjectivity and error, and ensures that no part of the asset base is left unchecked. In turn, this allows your integrity management team to make better decisions with higher levels of confidence.
Qualitative Risk Assessment Benefits
- Identification of Primary Risk Drivers
- Relative Ranking of all Pipeline Segments
- Prioritization of Maintenance Activities
- Establish Areas of Missing or Incomplete Data
- Identification of High Risk Pipeline Segments for Further Assessment
- Demonstrable value from Risk Mitigation Activities
Quantitative Risk Assessment Benefits
- Highly Focused Maintenance Programs
- Better Decisions, Higher Confidence
- Show Due Diligence
- Reliability Based Inspection Program Development
- Measurable Benefits for Maintenance
- Ensure Proper Distribution of Resources and Money
- What-if? Studies
- Cost Benefit and Net Present Value Analysis
