Streamline your legal agreements with our pipeline integrity management system in Legal agreements

How to create outlook signature

hello all in this snapshot we will discuss about how Senior Management will look into the pipeline Integrity management the pipeline Integrity management itself needs to consider four activities one context of pipeline Integrity management how to deal with Senior Management how maintenance activities will influence the pipeline integrated management and various activities in an pipeline Integrity Management program integrating all four of them and implementing them properly will be key to the success of the pin program of course experience case studies are also important but in this episode we'll talk about how to deal with our management Senior Management when we develop piperine Integrity management the first thing we need to consider is the risk assessment the risk assessment consists of two aspects one the probability what is the probability of an event taking place the event could be internal corrosion microbiological influence corrosion erosion external corrosion stress corrosion cracking and so on the first question is what is the probability the second question is what is the likelihood would that even would the event happen today or once in Thousand chance or once in million chance but in general we assign low medium or high probability so the probability consists of whether the event takes place if it takes place how frequently it can take place once you establish a probability the next question the CIA management would ask is hey what's the consequence a sweet pipeline operation incident happening in a remote place does not heat to the senior Management's approval on the other hand a s pipeline operating in a busy downtown area if something happens the consequence are severe so the consequence depends upon the risk environment and other Associated activities so the consequence is very very important in terms of pint integrated management once we know the probability and consequence then we can quantify the risk risk quantification is typically a product of probability times consequence for which industry commonly uses risk Matrix in which the probability is plotted in the y axis and consequence in the x-axis and people use file 5x 5 4X 4 6X 6 7x 7 Matrix whatever may be the matrix dimensions normally The Matrix classifies the risk into five classes high risk with score above 15 medium risk will score above 10 moderate risk with score between five and 10 low risk with score less than five once you quantify the risk and if the risk is high then you have to implement mitigation strategies to reduce the risk if you want to convince the upper management you are to convince them not only in terms of quantification but also in terms of economics if you need money to spent on what benefits it brings up many times the role of Economics is underestimated by corrosion professionals or pipeline integrated management professionals an economics is defined by several means by Net Present Value simple payback period discount payback period equivalent annual cost or investment return of rate of return this all economics but we need to understand these Concepts so that we can effectively convince the upper management or Senior Management to help us implement the pipeline Integrity management so the second aspect is to convince this senior managements to support the pipeline integrated management if you want to know more about it Join one of the PM Pim course offered by STEM corrosion I look forward to see you there thank you