Wholly Probabilistic Integrity Assessment Methods for Cost/Benefit based decision making
Wholly probabilistic analysis methods of equipment integrity condition will enable Cost/Benefit based decisions in Asset Management and Risk Control problems like:
- Corrosion inspection planning (RBI, NII), advanced NDT support
- Vibration and High Cycle Fatigue analysis/design
- Fitness For Service (FFS) problems (crack propagation, other defects)
- Finite Element Analysis (FEA) upgrade to Probability of Failure (PoF) outputs
- Other equipment damage and integrity condition problems in a range of industries
These are unique novel methods for failure control.
This probabilistic analysis methodology is holistic and has a potential to revolutionise a very wide spectrum of material strength analysis and failure prediction activities. It is different from the existing practices of constructing damage progress mathematical models, as it uses evidential integrity data in lieu of models and treats equipment units at a truly individual level of load/damage operational conditions.
Relative Business Impact
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