What is RBI? Risk Based Inspection Explained

Traditional inspection programs apply largely uniform, time-based intervals across an asset population. RBI instead calculates a probability and consequence of failure for each equipment item and ranks them by risk.

Probability of failure assessment considers active damage mechanisms — corrosion, fatigue, cracking — informed by process conditions, materials of construction, and inspection history.

Consequence of failure assessment considers the safety, environmental, and financial impact of a loss of containment at that equipment item, often using simplified consequence modelling.

The resulting risk ranking allows inspection budgets and turnaround scope to focus on genuinely high-risk equipment, while potentially extending intervals on low-risk items — improving both safety outcomes and inspection economics.