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PIPELINE RISK ASSESSMENT

PIPELINE Risk ASSESSMENT The Essential Elements: An initiative through collaboration of DNV and W. Kent Muhlbauer Det Norske Veritas All rights reserved. PIPELINE RISK ASSESSMENT The Essential Elements (First published in PIPELINE & Gas Journal May, 2012) info An initiative through collaboration of DNV and W. Kent MuhlbauerPipeline Risk ASSESSMENT The Essential Elements: An initiative through collaboration of DNV and W. Kent Muhlbauer Det Norske Veritas All rights reserved. 1 info GUIDELINES FOR PIPELINE RISK ASSESSMENT Understanding PIPELINE Risk Although pipelines continue to be the safest way to transport fluids over long distances, accidents still threaten the public and/or environment, exposing the industry to scrutiny.

1. Measure in Verifiable Units The risk assessment must include a definition of ‘failure’ and produce verifiable estimates of failure potential. Therefore, the risk assessment must produce a measure of probability of failure (PoF) and a measure of potential consequence.

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