Risk Based Inspection for Boilers

Size: px
Start display at page:

Download "Risk Based Inspection for Boilers"

Transcription

1 การอบรมส มมนา เร อง Risk Based Inspection for Boilers 7 ม ถ นายน 2557 น าเสนอโดย สมาคมว ศวกรหม อไอน าแห งประเทศไทย ร วมก บ Lloyd s Register International (Thailand) Ltd. Risk Based Inspection for Boilers Chamni Mosagul Operation Manager, ASME Authorized Inspector and Supervisor (AI, AIS) Energy, Inspection Business, Lloyd s Register International (Thailand) Ltd. 7 June

2 Risk Based Inspection (RBI) Agenda RBI Introduction Time based vs Risk based inspection(rbi) RBI Methodology Boiler Deterioration Mechanism Criticality assessment RBI result implementation for inspection & maintenance strategy RBI Workshop (if time available) 2

3 RBI Introduction 3

4 What is Risk? Risk Has Two Components:- Risk is a measure of BOTH PROBABILITY of a failure AND CONSEQUENCE of a failure What is RBI? Risk Based Inspection (RBI) is a risk assessment and management process that is focused on loss of containment of pressurized equipment in processing facilities, due to material deterioration. These risks are managed primarily through equipment inspection. Referenced Code API Recommended practice 580 (Risk Based Inspection) API Recommended practice 581 (RBI Base Resource Document) 4

5 ให ความสนใจใน ความเส ยงท สามารถตรวจสอบได ผลเส ยหายท เก ดข น ม ผลต อความปลอดภ ยถ งข นเส ยช ว ตช ว ตเน องจากการร วไหลของสารอ นตราย ม ผลต อความปลอดภ ยถ งข นเส ยช ว ตช ว ตเน องจากความด นภายใน ส งผลกระทบต อส งแวดล อม ส นค า - ผล ตภ ณฑ เส ยหาย Risk Matrix in RBI 5

6 Reliability Based Mechanical Integrity Criticality Measures Probability Ranking Very High (1+ per yr.) High (10-1 per yr.) Moderate (10-2 per yr.) Low (10-3 per yr.) Very Low (10-4 or less per yr.) Consequence Ranking Catastrophic ($10 7 ) Very Serious ($10 6 ) Serious ($10 5 ) Significant ($10 4 ) Minor ($10 3 ) 6

7 7

8 RBI (Time based vs Risk Based Inspection (RBI) 8

9 Advantage of RBI comparing to Time Based inspection Previous and existing resolution (Time Based) Time based inspection and Maintenance:- - Inspecting before knowing where to go - Lower safety, reliability - waste a lot of money to do unnecessary inspections and maintenances cost - Higher risk level - Low level of assets performance management - low Economical competitiveness capability level 9

10 Alternative Technology (RBI) for assets performance management Risk Based Inspection and Maintenance - Inspectors can identify:- - where the damage mechanisms are, - how to inspect them, and - how frenquently - Inspection is about finding where the problems are before they find you. RBI helps we do that. Alternative Technology (RBI) for assets performance management Risk Based Inspection and Maintenance - RBI is about doing the right things - It is about getting to mechanical integrity and safety, -It is not about saving money, saving will come after our facilities are safe and reliable. - Inspection and Maintenance based on realtime evaluated risk level - Not doing unnecessary/waste inspection and maintenance activities 10

11 Alternative Technology (RBI) for assets performance management - Maintain high safety level at Lowest risk - Highest performance/lowest cost - Maximize profit and economical competitiveness capability The RBI process reducing costs, reducing risks and measuring value R I S K Risk Using RBI Risk with time driven asset management program INSPECTION COSTS 11

12 FCC Calculated Risk and Risk Reduction As-Found Risk Risk Distribution E D C B A Initial Risk Study 90% Risk Reduction Achieved by Addressing 12% of Fixed Equipment Items Calculated as the mid value consequence multiplied by the likelihood Risk Distribution E D C B A After Risk Mitigation Industry Best Practice Case Study #3 U. S. Refinery Piping in All Units 5,000,000 Cumulative Risk - $/ Yr 4,000,000 3,000,000 2,000,000 1,000,000 As Found As Left 0 HF Alky FCC Gas Con Contract Inspection Resources #2 Crude #1 Crude MEA & #1 SRU #1 Reformer Distillate Unifiner HDH Sat Gas/Dehex C5/C6 Isom Foul Water Sep Units Hydrogen C5/C6 Desulf Reformer #2 Fuel Gas DDS Hydrotreater Flare, Oil Sep, BD #2 SRU BOILER SCOT 12

13 การกระท าโดยเจตนา 13

14 RBI Methodology RBI Methodology There are 3 methods commonly used:- - Qualitative -Quantitative - Semi-Quantitative 14

15 RBI Qualitative methodology Data collection 30 fields per asset Corrosion engineer 1 Subject Matter Expert 2 Subject Matter Expert 3 Subject Matter Expert 4 Facilitator RISK Calculator Manual Inspection planning per asset RBI Quantitative methodology Data collection 130 fields per asset RISK Calculator Manual Inspection planning per asset 15

16 RBI Risk Modeling Calculate Likelihood of Failure (events per year) Asset type, components Degradation mechanisms Failure modes Age, usage, environment, etc Asset condition (based on past and future maintenance and condition monitoring) Probability Ranking HIGH MED HIGH MEDIUM LOW 5 E D C B A Consequence Ranking Calculate Consequence of Failure (impact per event) Safety, Health or Environmental impact Maintenance costs Disruption to use Reputation Public/Political M&I Task Plan optimized to the asset and the business Includes industry best practices May increased or decrease current maintenance requirements Will change with time RBI Implementation step 16

17 Semi - Quantitative methodology (Capstone RBMI) Data collection 30 fields per asset Plan Update Asset Perform Corrosion engineer Suggested inspection plan generated by system Evaluate RISK Calculator RISK Calculator API 573 (Insp. of Fired Boilers/heaters 17

18 Data collection step Evaluate Risk level for each Component/item 18

Risk Based Inspection A Key Component to Generating Value from a Mechanical Integrity Program API Singapore 2012

Risk Based Inspection A Key Component to Generating Value from a Mechanical Integrity Program API Singapore 2012 the global leader in asset performance management solutions Risk Based Inspection A Key Component to Generating Value from a Mechanical Integrity Program API Singapore 2012 Agenda Introduction Achieving

More information

หน า ๑๑ เล ม ๑๓๐ ตอนพ เศษ ๑๘๑ ง ราชก จจาน เบกษา ๑๓ ธ นวาคม ๒๕๕๖

หน า ๑๑ เล ม ๑๓๐ ตอนพ เศษ ๑๘๑ ง ราชก จจาน เบกษา ๑๓ ธ นวาคม ๒๕๕๖ หน า ๑๑ เล ม ๑๓๐ ตอนพ เศษ ๑๘๑ ง ราชก จจาน เบกษา ๑๓ ธ นวาคม ๒๕๕๖ ประกาศกระทรวงอ ตสาหกรรม ฉบ บท ๔๕๗๗ (พ.ศ. ๒๕๕๖) ออกตามความในพระราชบ ญญ ต มาตรฐานผล ตภ ณฑ อ ตสาหกรรม พ.ศ. ๒๕๑๑ เร อง ก าหนดมาตรฐานผล ตภ ณฑ

More information

Risk Workshop Session 1. Malcolm Leinster

Risk Workshop Session 1. Malcolm Leinster Risk Workshop Session 1 Malcolm Leinster Risk Workshop Team Ashfaque Chowdhury Olivia King-Strydom Matthew Le Lacheur Malcolm Leinster Kevin O Malley Introduction What is risk? Workshop Outline How can

More information

Overview of CANDU RI-ISI. Prepared By: Kasia Izdebska June 15, 2010

Overview of CANDU RI-ISI. Prepared By: Kasia Izdebska June 15, 2010 Overview of CANDU RI-ISI Prepared By: Kasia Izdebska June 15, 2010 Outline Background Risk-Informed In-Service Inspection (RI-ISI) Programs Inspection Requirements for CANDU CNSC RI-ISI Guideline RI-ISI

More information

Guide for the Extension of Boiler Internal Inspections

Guide for the Extension of Boiler Internal Inspections State of Tennessee Department of Labor and Workforce Development Division of Workplace Regulations and Compliance Boiler Unit Tennessee Board of Boiler Rules 220 French Landing Drive Nashville, Tennessee

More information

client user GUIDE 2011

client user GUIDE 2011 client user GUIDE 2011 STEP ACTION Accessing Risk Register 1. Type https://www.scm rms.ca/riskregister/login.aspx 2. Click in the Username field on the Risk Register home page. 3. Type your Username and

More information

Risk management procedures

Risk management procedures Purpose and scope In accordance with the BizOps Enterprises risk management policy, these procedures describe the organisation s standard process for risk management, including: 1. Risk identification

More information

An End-to-End Process Approach for effective Operational Risk Management

An End-to-End Process Approach for effective Operational Risk Management An End-to-End Process Approach for effective Operational Risk Management 12 November, 2017 Bio Kamonrat Kharawamit SVP, Head of Operational Rsik Kamonratjoined KiatnakinBank in February 2011, as Senior

More information

Chapter 7: Risk. Incorporating risk management. What is risk and risk management?

Chapter 7: Risk. Incorporating risk management. What is risk and risk management? Chapter 7: Risk Incorporating risk management A key element that agencies must consider and seamlessly integrate into the TAM framework is risk management. Risk is defined as the positive or negative effects

More information

An Update On Association Policies, Health Checks & Guidelines To A Safer Hockey Association. Lauren Woods Member Engagement & Operations

An Update On Association Policies, Health Checks & Guidelines To A Safer Hockey Association. Lauren Woods Member Engagement & Operations An Update On Association Policies, Health Checks & Guidelines To A Safer Hockey Association Lauren Woods Member Engagement & Operations Association Health Checks Issues arising from the health check: 3/27

More information

ASSET INTEGRITY INTELLIGENCE. ADVANCEMENTS IN CUI DETECTION AND OVERVIEW OF MsS GUIDED WAVE. ADAM GARDNER, NDE Specialist at PinnacleART

ASSET INTEGRITY INTELLIGENCE. ADVANCEMENTS IN CUI DETECTION AND OVERVIEW OF MsS GUIDED WAVE. ADAM GARDNER, NDE Specialist at PinnacleART ASSET INTEGRITY INTELLIGENCE ADVANCEMENTS IN CUI DETECTION AND OVERVIEW OF MsS GUIDED WAVE ADAM GARDNER, NDE Specialist at PinnacleART VOLUME 22, ISSUE 6 NOVEMBER DECEMBER 2016 ADVANCEMENTS IN CUI DETECTION

More information

Quiz Answer Key - The Inspector s Calc s

Quiz Answer Key - The Inspector s Calc s Quiz Answer Key - The Inspector s Calc s 1. Most math mistakes are the result of: b. the inspector s failure to write the formula. 2. When completing a calculation, always: c. add the appropriate units.

More information

Event Risk Assessment Tool (ERAT) Version 2.0. Activity Being Assessed: RARE LIKELY ALMOST CERTAIN

Event Risk Assessment Tool (ERAT) Version 2.0. Activity Being Assessed: RARE LIKELY ALMOST CERTAIN Group Name: Date of Assessment: Activity Being Assessed: Review Assessment By: Referenced Documents (Legislation, Codes of Practice, Standards and Industry Guidelines etc): Persons Involved in the Conduct

More information

Event Risk Assessment Tool (ERAT) Version 1.0 RARE. UNLIKELY Could occur at some time. POSSIBLE Might occur at some time LIKELY ALMOST CERTAIN

Event Risk Assessment Tool (ERAT) Version 1.0 RARE. UNLIKELY Could occur at some time. POSSIBLE Might occur at some time LIKELY ALMOST CERTAIN Group Name: Activity Being Assessed: Date of Assessment: Review Assessment By: Referenced Documents (Legislation, Codes of Practice, Standards and Industry Guidelines etc): Persons Involved in the Conduct

More information

Thai Bond Market Development Experience & Roadmap

Thai Bond Market Development Experience & Roadmap Thai Bond Market Development Experience & Roadmap Size of Thai Bond Market At the end of H1 2017, the total outstanding of Thai Bond market climbed to THB 11.34 trillion or 3% increase from previous year.

More information

WATER ASSET MANAGEMENT PLAN

WATER ASSET MANAGEMENT PLAN WATER ASSET MANAGEMENT PLAN Georgetown Charter Township Ottawa County, Michigan November 2017 Where we re going: System Goals INTRODUCTION About this Document This document is our Water Asset Management

More information

Why a Near-Miss is Never a Leading Indicator. or why we need to think in system outcomes. Ian Travers, Principal Consultant, Process Safety

Why a Near-Miss is Never a Leading Indicator. or why we need to think in system outcomes. Ian Travers, Principal Consultant, Process Safety Why a Near-Miss is Never a Leading Indicator or why we need to think in system outcomes Ian Travers, Principal Consultant, Process Safety Why Measure All systems [to control risks] deteriorate over time,

More information

3. Events and Activities

3. Events and Activities 3. Events and Activities 36 SET AWARDS 2006 Dr.Anusorn Sengnimnuan, the president, was seeing receiving the Best Corporate Social Responsibility Awards (CSR) and certificate of the Best Corporate Governance

More information

Improving Trade Finance Environment for SMEs

Improving Trade Finance Environment for SMEs Improving Trade Finance Environment for SMEs Situation, Solution and Recommendation KASIKORNBANK PLC. 17 May 2009 Agenda Thai SMEs Overview Thai SMEs under Global Economic Crisis 3 key players to support

More information

Risk Management at Central Bank of Nepal

Risk Management at Central Bank of Nepal Risk Management at Central Bank of Nepal A. Introduction to Supervisory Risk Management Framework in Banks Nepal Rastra Bank(NRB) Act, 2058, section 35 (a) requires the NRB management is to design and

More information

Crowe, Dana, et al "EvaluatingProduct Risks" Design For Reliability Edited by Crowe, Dana et al Boca Raton: CRC Press LLC,2001

Crowe, Dana, et al EvaluatingProduct Risks Design For Reliability Edited by Crowe, Dana et al Boca Raton: CRC Press LLC,2001 Crowe, Dana, et al "EvaluatingProduct Risks" Design For Reliability Edited by Crowe, Dana et al Boca Raton: CRC Press LLC,2001 CHAPTER 13 Evaluating Product Risks 13.1 Introduction This chapter addresses

More information

Risk Check: Applying Community Risk Reduction Strategies To Enforcement Inspections

Risk Check: Applying Community Risk Reduction Strategies To Enforcement Inspections 2017 NFPA Conference & Expo Risk Check: Applying Community Risk Reduction Strategies To Enforcement Inspections Presented by: David Lynam Fire Marshal / Deputy Building Official Kitsap County What To Expect

More information

Risk Management Strategy

Risk Management Strategy Risk Management Strategy 2016 2019 Version: 6 Policy Lead/Author & Deputy Director of Quality position: Ward / Department: Nursing Directorate Replacing Document: Version 5 Approving Committee Quality

More information

Quantitative Risk Modelling, Calibration and Continuous Improvement CK UMACHI RISK MANAGEMENT ENGINEER - TIMP PACIFIC GAS & ELECTRIC

Quantitative Risk Modelling, Calibration and Continuous Improvement CK UMACHI RISK MANAGEMENT ENGINEER - TIMP PACIFIC GAS & ELECTRIC Quantitative Risk Modelling, Calibration and Continuous Improvement CK UMACHI RISK MANAGEMENT ENGINEER - TIMP PACIFIC GAS & ELECTRIC Agenda Relative vs Quantitative Risk Models PG&E s Risk Model History

More information

WHS Risk Assessment and Control Form

WHS Risk Assessment and Control Form WHS Risk Assessment and Control Form Step 1: Who has conducted the Risk Assessment Risk Assessment completed by (name): Staff / Student Number: Signature: Date: Step 4: Documentation and initial approval

More information

Specification Design Life Requirements and Implications Relative to Boilers

Specification Design Life Requirements and Implications Relative to Boilers Specification Design Life Requirements and Implications Relative to Boilers Summary This paper discusses and addresses the following: Background regarding usage of specification design life requirements;

More information

ANNUAL MEETING 23 APRIL 2018

ANNUAL MEETING 23 APRIL 2018 ANNUAL MEETING 23 APRIL 2018 SIMON ALLEN CHAIRMAN ANNUAL MEETING AGENDA CHAIRMAN S ADDRESS CEO S ADDRESS RESOLUTIONS Approval of auditor s fees and expenses Re-election/ election of Directors Increase

More information

Risk Management Strategy January NHS Education for Scotland RISK MANAGEMENT STRATEGY

Risk Management Strategy January NHS Education for Scotland RISK MANAGEMENT STRATEGY NHS Education for Scotland RISK MANAGEMENT STRATEGY January 2016 1 Contents 1. NES STATEMENT ON RISK MANAGEMENT 2 RISK MANAGEMENT STRATEGY 3 RISK MANAGEMENT STRUCTURES 4 RISK MANAGEMENT PROCESSES 5 RISK

More information

USF System Compliance & Ethics Program. Risk Assessment Process. Enterprise-Wide Risk Assessment

USF System Compliance & Ethics Program. Risk Assessment Process. Enterprise-Wide Risk Assessment USF System Compliance & Ethics Program Risk Assessment Process Enterprise-Wide Risk Assessment Risk Assessment Process Risk Assessment: A disciplined, documented, and ongoing process of identifying and

More information

SARAS Second Quarter and First Half 2014 results

SARAS Second Quarter and First Half 2014 results SARAS Second Quarter and First Half 2014 results 8 th August 2014 8 August 2014 Saras SpA 1 AGENDA Highlights Segments Review Financials Outlook & Strategy Additional Information DISCLAIMER Certain statements

More information

KNPC Risk Approach for Projects Economic Evaluation

KNPC Risk Approach for Projects Economic Evaluation KNPC Risk Approach for Projects Economic Evaluation Implementation Approach March 2015 Presented by Eng. May Al-Ebrahim Introduction Investment decisions require special attention because they involve

More information

Hazard Identification, Risk Assessment and Control Procedure

Hazard Identification, Risk Assessment and Control Procedure Hazard Identification, Risk Assessment and Control Procedure 1. Purpose To ensure that there is a formal process for hazard identification, risk assessment and control to effectively manage workplace and

More information

Benefits of RBI in Offshore and Marine Applications Lessons Learnt

Benefits of RBI in Offshore and Marine Applications Lessons Learnt TUDelft, July 4, 214 Benefits of RBI in Offshore and Marine Applications Lessons Learnt M. H. Faber Technical University of Denmark Contents of Presentation Motivation for RBI The idea behind RBI Typical

More information

Lecture 1: Derivatives: Review

Lecture 1: Derivatives: Review Derivatives: Definition Lecture 1: Derivatives: Review A derivative can be defined as: a financial instrument (or more simply, an agreement between two or more people whose value depends on (i.e., derived

More information

Pickering Whole-Site Risk

Pickering Whole-Site Risk Pickering Whole-Site Risk Jack Vecchiarelli Manager, Pickering Relicensing Update to Commission Members December 14, 2017 CMD 17-M64.1 Outline Background Whole-site risk considerations Use of Probabilistic

More information

FY 2013 Analyst Presentation

FY 2013 Analyst Presentation FY 2013 Analyst Presentation 13 th March 2014 Esso (Thailand) Public Company Limited Business Strategies Commitment to safe, environmentally responsible operations Selective and disciplined investment

More information

Project Evaluation. Carl D. Martland Senior Research Associate Dept. of Civil & Environmental Engineering

Project Evaluation. Carl D. Martland Senior Research Associate Dept. of Civil & Environmental Engineering Courtesy of Carl Martland. Used with permission. Project Evaluation Carl D. Martland Senior Research Associate Dept. of Civil & Environmental Engineering Outline Introduction (Lecture 1) Financial assessment

More information

Cost Risk and Uncertainty Analysis

Cost Risk and Uncertainty Analysis MORS Special Meeting 19-22 September 2011 Sheraton Premiere at Tysons Corner, Vienna, VA Mort Anvari Mort.Anvari@us.army.mil 1 The Need For: Without risk analysis, a cost estimate will usually be a point

More information

The Finance Standards guide. My entity s contribution to strategy #5 of the A2020 roadmap!

The Finance Standards guide. My entity s contribution to strategy #5 of the A2020 roadmap! The Finance Standards guide My entity s contribution to strategy #5 of the A2020 roadmap! but why? To Ensure we (AIESEC) are 100% legal and sustainable in our operations at all levels. Concretely to: Align

More information

(Ord. No N.S., I, ; Ord. No N.S., I, )

(Ord. No N.S., I, ; Ord. No N.S., I, ) Chapter 6.43 - INDUSTRIAL SAFETY Sections: 6.43.010 - Summary. This chapter imposes regulations which supplement the requirements of California Health and Safety Code, Article 2 (commencing with Section

More information

Controlling Risk Ranking Variability Using a Progressive Risk Registry

Controlling Risk Ranking Variability Using a Progressive Risk Registry Controlling Risk Ranking Variability Using a Progressive Risk Registry 32nd Annual National VPPPA Safety & Health Conference/Expo September 1, 2016 Agenda What is a Progressive Risk Registry? How does

More information

Three waters A GIS-BASED METHOD FOR SUPPORTING OPERATIONAL EVENTS MANAGEMENT IN WATER SUPPLY SYSTEM

Three waters A GIS-BASED METHOD FOR SUPPORTING OPERATIONAL EVENTS MANAGEMENT IN WATER SUPPLY SYSTEM Three waters Marcin Dąbrowski, PhD Eng. Silesian University of Technology Gliwice, Poland A GIS-BASED METHOD FOR SUPPORTING OPERATIONAL EVENTS MANAGEMENT IN WATER SUPPLY SYSTEM Operational events commonly

More information

CHEMICAL ENGINEERING DESIGN & SAFETY

CHEMICAL ENGINEERING DESIGN & SAFETY CHEMICAL ENGINEERING DESIGN & SAFETY CHE 4253 Prof. Miguel Bagajewicz Process Engineering Economics 1-Plant Cost Estimation ECONOMIC DESIGN CRITERIA BASIC ECONOMIC TERMS Total Capital Investment, TCI or

More information

Commerce. Election rally. Capital Nomura Securities Public Company Limited Investment Research and Investor Services

Commerce. Election rally. Capital Nomura Securities Public Company Limited Investment Research and Investor Services Connecting Markets East & West Commerce Election rally Investment Research and Investor Services Nuttapon Kumnounphon (+66 2638 5777) Nuttapon.kumnounphon@th.nomura.com Nomura Executive summary Election

More information

Risk Management Framework. Group Risk Management Version 2

Risk Management Framework. Group Risk Management Version 2 Group Risk Management Version 2 RISK MANAGEMENT FRAMEWORK Purpose The purpose of this document is to summarise the framework which Service Stream adopts to manage risk throughout the Group. Overview The

More information

KEEPING JURISDICTIONAL INSPECTIONS ON COURSE:

KEEPING JURISDICTIONAL INSPECTIONS ON COURSE: Machinery Risk Solutions KEEPING JURISDICTIONAL INSPECTIONS ON COURSE: ENHANCED BOILER AND PRESSURE VESSEL REGULATORY ENFORCEMENT MAY INCREASE FINES AND PENALTIES CONTENT: 2 KEY REGULATORY COMPLIANCE STEPS

More information

A Holistic Approach to Risk Management. Dono Tong & Jeff Chan

A Holistic Approach to Risk Management. Dono Tong & Jeff Chan A Holistic Approach to Risk Management Dono Tong & Jeff Chan 1 Agenda Business Today & Tomorrow Evolution of Risk Management Process Risk Management in MTR 2 Business in the 21 st Century Changing Business

More information

PBF Energy June 2018

PBF Energy June 2018 PBF Energy June 2018 1 Safe Harbor Statements This presentation contains forward-looking statements made by PBF Energy Inc. ( PBF Energy ), the indirect parent of PBF Logistics LP ( PBFX, or Partnership,

More information

Common Safety Methods CSM

Common Safety Methods CSM Common Safety Methods CSM A common safety method on risk evaluation and assessment Directive 2004/49/EC, Article 6(3)(a) Presented by: matti.katajala@safetyadvisor.fi / www.safetyadvisor.fi Motivation

More information

Learning Objectives. STA 473 Business Management. Introduction to Business Management 1/25/2013. Chukiat Worasucheep 1

Learning Objectives. STA 473 Business Management. Introduction to Business Management 1/25/2013. Chukiat Worasucheep 1 Learning Objectives STA 473 Business Management Chapter 12 Financial Information and Accounting Described the importance of financial information and accounting. Define and explain the different areas

More information

Risk Management Relevance to PAS 55 (ISO 55000) Deciding on processes to implement risk management

Risk Management Relevance to PAS 55 (ISO 55000) Deciding on processes to implement risk management Risk Management Relevance to PAS 55 (ISO 55000) Deciding on processes to implement risk management Jeff Hollingdale DQS South Africa jeffh@dqs.co.za PAS 55 Risk Management The guideline states: (4.4.7);

More information

1.133 M.Eng. Concepts of Engineering Practice Fall 2007

1.133 M.Eng. Concepts of Engineering Practice Fall 2007 MIT OpenCourseWare http://ocw.mit.edu 1.133 M.Eng. Concepts of Engineering Practice Fall 2007 For information about citing these materials or our Terms of Use, visit: http://ocw.mit.edu/terms. Project

More information

Hazard Ranking & Hierarchy of Controls

Hazard Ranking & Hierarchy of Controls Hazard Ranking & Hierarchy of Controls How do you know you have a problem? Topic outline Hazard assessment strategies Hierarchy of control strategies Review of error and uncertainty analysis Statistical

More information

Procedure for Address Business Risk and Opportunities

Procedure for Address Business Risk and Opportunities 1. SUMMARY 1.1. The purpose of this procedure is to manage the business risks and opportunities that arise from the context of BLK/Elite and the requirements of interested parties. 1.2. This procedure

More information

Risk Assessment Mitigation Phase Risk Mitigation Plan Lessons Learned (RAMP B) November 30, 2016

Risk Assessment Mitigation Phase Risk Mitigation Plan Lessons Learned (RAMP B) November 30, 2016 Risk Assessment Mitigation Phase Risk Mitigation Plan Lessons Learned (RAMP B) November 30, 2016 #310403 Risk Management Framework Consistent with the historic commitment of Southern California Gas Company

More information

PRIORITY RESPONSE PROGRAM

PRIORITY RESPONSE PROGRAM PRIORITY RESPONSE PROGRAM An unexpected fire. A sudden earthquake. A devastating hurricane. Or maybe just a busted pipe. Disaster can strike anytime, anywhere. What will you do? The answer is simple. STAY

More information

Project Theft Management,

Project Theft Management, Project Theft Management, by applying best practises of Project Risk Management Philip Rosslee, BEng. PrEng. MBA PMP PMO Projects South Africa PMO Projects Group www.pmo-projects.co.za philip.rosslee@pmo-projects.com

More information

MODEL VULNERABILITY Author: Mohammad Zolfaghari CatRisk Solutions

MODEL VULNERABILITY Author: Mohammad Zolfaghari CatRisk Solutions BACKGROUND A catastrophe hazard module provides probabilistic distribution of hazard intensity measure (IM) for each location. Buildings exposed to catastrophe hazards behave differently based on their

More information

112(r)(1 )GDC Inspection Checklist

112(r)(1 )GDC Inspection Checklist UNITED STATES ENVIRONMENTAL PROTECTION AGENCY REGION III 1650 Arch Street Philadelphia, Pennsylvania 19103-2029 SUBPART A - GENERAL INFORMATION (Y=Yes, N=No, P=Partial, A= Not Applicable) 112(r)(1 )GDC

More information

Leveraging Infrastructure Management Systems. Andrea Becker, MASc, P.Eng. Doug Manarin, P.Eng. Engineering 1 Services

Leveraging Infrastructure Management Systems. Andrea Becker, MASc, P.Eng. Doug Manarin, P.Eng. Engineering 1 Services Leveraging Infrastructure Management Systems Andrea Becker, MASc, P.Eng. Doug Manarin, P.Eng. Engineering 1 Services PRESENTATION AGENDA Engineering s Asset Management Strategy and Framework Integrated

More information

Risk Assessment Procedure

Risk Assessment Procedure 1. Introduction Risk Assessment Procedure 1.1 The Management of Health and Safety at Work Regulations 1999 set out general duties which apply to employers and are aimed at improving health and safety management.

More information

Job Safety Analysis Preparation And Risk Assessment

Job Safety Analysis Preparation And Risk Assessment Job Safety Analysis Preparation And Risk Assessment Sample Only Reference CPL_PCR_JSA_Risk_Assessment Revision Number SAMPLE ONLY Document Owner Sample Date 2015 File Location Procedure Revision Date Major

More information

The Performance of Palestinian Local Governments

The Performance of Palestinian Local Governments The Performance of Palestinian Local Governments An Assessment of Service Delivery Outcomes and Performance Drivers in the West Bank and Gaza Main findings and Policy Recommendations National Dissemination

More information

RISK MANAGEMENT. Co-X/QHS/SOP03

RISK MANAGEMENT. Co-X/QHS/SOP03 CONVENTION & EXHIBITION (PUTRAJAYA) SDN. BHD. Co-X/QHS/SOP03 Revision No.: 02 Effective Date: 1 st November 2017 PREPARED BY REVIEWED BY APPROVED BY Name: Name: Name: Position: Position: Position: REFERENCE

More information

ENTERPRISE RISK MANAGEMENT (ERM) GOVERNANCE POLICY PEDERNALES ELECTRIC COOPERATIVE, INC.

ENTERPRISE RISK MANAGEMENT (ERM) GOVERNANCE POLICY PEDERNALES ELECTRIC COOPERATIVE, INC. 1. Purpose: 1.1. Pedernales Electric Cooperative ( PEC ) is committed to delivering low-cost, reliable and safe energy solutions for the benefit of our members. In order to improve the likelihood of achieving

More information

RISK MANAGEMENT POLICY

RISK MANAGEMENT POLICY RISK MANAGEMENT POLICY TABLE OF CONTENTS PAGE 1. BACKGROUND 3 2. MATERIAL BUSINESS RISK 3 3. RISK TOLERANCE 4 4. OUTLINE OF ARTEMIS RESOURCE LIMITED S RISK MANAGEMENT POLICY 5 5. RISK MANAGEMENT ROLES

More information

Risk Management Plan for the <Project Name> Prepared by: Title: Address: Phone: Last revised:

Risk Management Plan for the <Project Name> Prepared by: Title: Address: Phone:   Last revised: for the Prepared by: Title: Address: Phone: E-mail: Last revised: Document Information Project Name: Prepared By: Title: Reviewed By: Document Version No: Document Version Date: Review Date:

More information

Account Opening Form Specifically juristic persons/entities

Account Opening Form Specifically juristic persons/entities Account Opening Form Specifically juristic persons/entities KASIKORNBANK Pcl. Branch... Date... Fund Account Number (For Officer s Use) To Kasikorn Asset Management Co., Ltd. I wish to open a fund account

More information

Risk Management Policy

Risk Management Policy Risk Management Policy Version: 3 Board Endorsement: 11 January 2014 Last Review Date: 3 January 2014 Next Review Date: July 2014 Risk Management Policy 1 Table of Contents 1 Introduction... 3 2 Overview...

More information

Qualitative Tree Risk Assessment

Qualitative Tree Risk Assessment Qualitative Tree Risk Assessment By E. Thomas Smiley, Nelda Matheny, and Sharon Lilly Editor s Note: The following article is the second in an extensive series of CEU items on tree risk assessment. Future

More information

1. Introduction to Investments 2. Financial systems, asset classes, and financial instruments

1. Introduction to Investments 2. Financial systems, asset classes, and financial instruments Thammasat University Business School FN 312 Investments 1 1. Introduction to Investments 2. Financial systems, asset classes, and financial instruments Dr. Anchada Charoenrook 2 Accounting, Economics and

More information

NSW Hang Gliding and Paragliding Association. (NSWHPA) Risk Management Plan Incorporating Risk Management Policy & Communications policy 2014

NSW Hang Gliding and Paragliding Association. (NSWHPA) Risk Management Plan Incorporating Risk Management Policy & Communications policy 2014 NSW Hang Gliding and Paragliding Association. (NSWHPA) Risk Management Plan Incorporating Risk Management Policy & Communications policy 2014 Website: http://www.nswhpa.org/ President Ralf Gittfried Vice

More information

TONGA NATIONAL QUALIFICATIONS AND ACCREDITATION BOARD

TONGA NATIONAL QUALIFICATIONS AND ACCREDITATION BOARD TONGA NATIONAL QUALIFICATIONS AND ACCREDITATION BOARD RISK MANAGEMENT FRAMEWORK 2017 Overview Tonga National Qualifications and Accreditation Board (TNQAB) was established in 2004, after the Tonga National

More information

Performance-Based Engineering and Resilience Management for Your Risk Control Program

Performance-Based Engineering and Resilience Management for Your Risk Control Program Performance-Based Engineering and Resilience Management for Your Risk Control Program Speakers: (RIC010) Jamie Bloom - Insurance Manager, Sonoma County, California Evan Reis - Co-founder, US Resiliency

More information

NEGOTIATION REVIEW. Negotiating Risk By Roger Greenfield. thegappartnership.com

NEGOTIATION REVIEW. Negotiating Risk By Roger Greenfield. thegappartnership.com NEGOTIATION REVIEW Negotiating Risk By Roger Greenfield contact@thegappartnership.com thegappartnership.com Negotiating risk Risk: one of the most under valued variables available during contract negotiations.

More information

Oilsands 101 Presentation

Oilsands 101 Presentation Finland Alberta Technology Seminar October 22, 2012 Oilsands 101 Presentation The Oil Sands Leadership Initiative Dr. Vincent Saubestre Executive Director Finland Alberta Innovation Partnership Seminar

More information

Case Study: Key Performance Indicators implementation in gas transmission pipeline. María José Gutiérrez Argentina

Case Study: Key Performance Indicators implementation in gas transmission pipeline. María José Gutiérrez Argentina Paper Number: 2015-07 Case Study: Key Performance Indicators implementation in gas transmission pipeline María José Gutiérrez Argentina Abstract Corrosion is a major threat that affects many assets of

More information

Lecture 1: Introduction to Derivatives

Lecture 1: Introduction to Derivatives Derivatives: Definition Lecture 1: Introduction to Derivatives A derivative can be defined as: a financial instrument (or more simply, an agreement between two or more people whose value depends on (i.e.,

More information

13 NCAC is amended with changes as published in 31:09 NCR as follows:

13 NCAC is amended with changes as published in 31:09 NCR as follows: 1 1 1 1 1 1 1 1 0 1 0 1 1 NCAC 1.01 is amended with changes as published in 1:0 NCR 0- as follows: 1 NCAC 1.01 DEFINITIONS The following definitions shall apply throughout the rules Rules in this Chapter

More information

RISK MANAGEMENT - CORPORATE COMPLIANCE & ETHICS

RISK MANAGEMENT - CORPORATE COMPLIANCE & ETHICS RISK MANAGEMENT - CORPORATE COMPLIANCE & ETHICS Presenter CLAIRE GOMEZ MILLER CIA CRMA FCCA CA BOARD DIRECTOR/AUDITCOMMITTEE MEMBER UNITEDINDEPENDENT PETROLEUM MARKETING COMPANY LIMITED TRINIDAD AND TOBAGO

More information

Ahsan Jamal. Case Study IDENTIFYING AND MANAGING KEY RISKS IN CONSTRUCTION PROJECTS

Ahsan Jamal. Case Study IDENTIFYING AND MANAGING KEY RISKS IN CONSTRUCTION PROJECTS Ahsan Jamal Case Study IDENTIFYING AND MANAGING KEY RISKS IN CONSTRUCTION PROJECTS Introduction For the last couple of years, we have seen enormous growth in the construction industry of Pakistan due to

More information

Labor Chapter ALABAMA DEPARTMENT OF LABOR ADMINISTRATIVE CODE CHAPTER GENERAL PROVISIONS TABLE OF CONTENTS

Labor Chapter ALABAMA DEPARTMENT OF LABOR ADMINISTRATIVE CODE CHAPTER GENERAL PROVISIONS TABLE OF CONTENTS Labor Chapter 480-7-1 ALABAMA DEPARTMENT OF LABOR ADMINISTRATIVE CODE CHAPTER 480-7-1 GENERAL PROVISIONS TABLE OF CONTENTS 480-7-1-.01 Definition Of Terms 480-7-1-.02 Adoption Of Codes And Standards Ed.

More information

Project Selection Risk

Project Selection Risk Project Selection Risk As explained above, the types of risk addressed by project planning and project execution are primarily cost risks, schedule risks, and risks related to achieving the deliverables

More information

Risk Management. Webinar - July 2017

Risk Management. Webinar - July 2017 Risk Management Webinar - July 2017 Compiled by: Raaghieb Najjaar, Yaeesh Yasseen & Rashied Small Adapted and Facilitated by: Professor Enslin J. van Rooyen Risk Management - June 2017 2 Defining Risk

More information

RISK MANAGEMENT - CORPORATE COMPLIANCE & ETHICS

RISK MANAGEMENT - CORPORATE COMPLIANCE & ETHICS RISK MANAGEMENT - CORPORATE COMPLIANCE & ETHICS Presenter CLAIRE GOMEZ MILLER CIA CRMA FCCA CA BOARD DIRECTOR/AUDIT COMMITTEEMEMBER UNITEDINDEPENDENTPETROLEUM MARKETINGCOMPANYLIMITED TRINIDAD AND TOBAGO

More information

Kuwait National Petroleum Company

Kuwait National Petroleum Company Kuwait National Petroleum Company Clean Fuels Project 2020 Cost & Budgeting of a Mega Project, Oct. 2018 Presenter: Eng. Wael Al-Jasem Former Team Leader Project Management KNPC Now Team Leader Mega Projects

More information

Application of ERM to Private Pension

Application of ERM to Private Pension Application of ERM to Private Pension Katsuhiro Yagura Certified Pension Actuary Fellow of the Institute of Actuaries of Japan Session Number: WBR10 Contents 1. Private Pension 2 2. ERM 10 3. Case Studies

More information

Risk Assessment of the Niagara Tunnel Project

Risk Assessment of the Niagara Tunnel Project Canadian Society of Value Analysis October 24, 2006 Risk Assessment of the Presented by: David Eden, P. Eng., Ontario Power Generation Susan Sherman, P.Eng.,URS Canada Inc Overview Qualitative Risk Analysis

More information

Business Management Manual Number: POL Version: 2 Effective Date: 3/2/2018

Business Management Manual Number: POL Version: 2 Effective Date: 3/2/2018 Number: POL- 0005 Version: 2 Effective Date: 3/2/2018 1.0 QUALITY POLICY Sentry Equipment is dedicated to exceeding the expected requirements of all interested parties. Through strategic planning, methodical

More information

Risk Management. Seminar June Compiled by: Raaghieb Najjaar, Yaeesh Yasseen & Rashied Small

Risk Management. Seminar June Compiled by: Raaghieb Najjaar, Yaeesh Yasseen & Rashied Small Risk Management Seminar June 2017 Compiled by: Raaghieb Najjaar, Yaeesh Yasseen & Rashied Small Defining Risk Risk reflects the chance that the actual event may be different than the planned / expected

More information

Managing And Mitigating Risk In PT Pertamina (Persero) to balance Aggressive Growth Strategies with Prudent Risk Management Frameworks

Managing And Mitigating Risk In PT Pertamina (Persero) to balance Aggressive Growth Strategies with Prudent Risk Management Frameworks Managing And Mitigating Risk In PT Pertamina (Persero) to balance Aggressive Growth Strategies with Prudent Risk Management Frameworks Jakarta, 26th February 2013 AGENDA Vision and Mission Where are the

More information

16985 ESOH Risk Assessment and Acceptance The Basics

16985 ESOH Risk Assessment and Acceptance The Basics Headquarters U.S. Air Force 16985 ESOH Risk Assessment and Acceptance The Basics Mr. Sherman Forbes SAF/AQRE sherman.g.forbes.civ@mail.mil 703-254-2480 30 October 2014 Version 7 1 Risk Management A process

More information

Project Management for the Professional Professional Part 3 - Risk Analysis. Michael Bevis, JD CPPO, CPSM, PMP

Project Management for the Professional Professional Part 3 - Risk Analysis. Michael Bevis, JD CPPO, CPSM, PMP Project Management for the Professional Professional Part 3 - Risk Analysis Michael Bevis, JD CPPO, CPSM, PMP What is a Risk? A risk is an uncertain event or condition that, if it occurs, has a positive

More information

Regulation DD-12.0: Risk Assessment Study

Regulation DD-12.0: Risk Assessment Study Regulation DD-12.0: Risk Assessment Study 12.0 Risk Assessment Study 12.1 Guidelines for Conducting Risk Assessment (RA) Study 12.2 Outline for Risk Assessment Study Report 12.3 Specific Fire Protection

More information

Risk Analysis and Management. May 2011 ISO 14971

Risk Analysis and Management. May 2011 ISO 14971 Risk Analysis and Management Qsite May 2011 ISO 14971 1 Agenda Definitions Risk Management Development Phases Process Hazards Evaluation Residual Risk 2 Why Do We Need Risk Analysis 1. Quantify the risk

More information

1042 FORUM DRIVE BROUSSARD, LA PHONE: (337) FAX: (337) Products & Services JANUARY 2015

1042 FORUM DRIVE BROUSSARD, LA PHONE: (337) FAX: (337) Products & Services JANUARY 2015 1042 FORUM DRIVE BROUSSARD, LA 70518 PHONE: (337) 231-1323 FAX: (337) 231-1327 Products & Services JANUARY 2015 TABLE OF CONTENTS Description PAGE Industrial Training Classes 3 Industrial Training Classes

More information

Risk Management Policy and Processes

Risk Management Policy and Processes Management Policy and Processes Purpose of this document This document sets out IMPRESS s arrangements for risk management, as well as the definition of risk and how it is assessed, managed and reported.

More information

Business Case for Safety

Business Case for Safety Business U.S. Chemical Safety and Hazard Case Investigation for Board Safety SAFETY IS GOOD BUSINESS AND GOOD PUBLIC POLICY There s an old saying that if you think safety is expensive, try an accident.

More information

Meeting: Council - 07 December 2017 Name of item: Chief Executive Officer s Key Performance Indicators For 2017/18

Meeting: Council - 07 December 2017 Name of item: Chief Executive Officer s Key Performance Indicators For 2017/18 Item: 14.2 Meeting: Council - 07 December 2017 Name of item: Chief Executive Officer s Key Performance Indicators For 2017/18 Author: Date of report: 17 November 2017 Document number: Bill Lee - General

More information

Fraud Risk Management

Fraud Risk Management Fraud Risk Management Fraud Risk Assessment Part 2 2017 Association of Certified Fraud Examiners, Inc. Fraud Risk Assessment Frameworks Frameworks are helpful for performing, evaluating, and reporting

More information