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51318-11641-Practical Cost-Benefit Analysis For Pipeline Corrosion Management

Framework for the management of corrosion life-cycle costs including the assessment of risk over time, the establishment of statistical process control techniques for identifying and evaluating risk decisions - and the methodology.

Product Number: 51318-11641-SG
Author: Tony Alfano / Tom Yahner / Dr. William V Harper / Jeff Kobs
Publication Date: 2018
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The centerpiece to a successful corrosion risk management program involves identifying and mitigating high risk locations along a pipeline system through optimized preventative and mitigative measure selection. The ability of a company to achieve this outcome is often limited by the characteristics of the supporting risk assessment program and the lack of an associated decision making framework.  To effectively be used by pipeline operators, the combined risk management framework must be able to financially justify preventative and mitigative measure selection. This involves the assessment of the risk reduction and economic return of the pipeline alternatives.  Discussed in this paper are the attributes of a successful risk management framework for the management of corrosion life-cycle costs including the assessment of risk over time, the establishment of statistical process control techniques for identifying and evaluating risk decisions, and the methodology for performing risk-informed cost benefit analysis.

 

Key words: external corrosion, risk management

 

The centerpiece to a successful corrosion risk management program involves identifying and mitigating high risk locations along a pipeline system through optimized preventative and mitigative measure selection. The ability of a company to achieve this outcome is often limited by the characteristics of the supporting risk assessment program and the lack of an associated decision making framework.  To effectively be used by pipeline operators, the combined risk management framework must be able to financially justify preventative and mitigative measure selection. This involves the assessment of the risk reduction and economic return of the pipeline alternatives.  Discussed in this paper are the attributes of a successful risk management framework for the management of corrosion life-cycle costs including the assessment of risk over time, the establishment of statistical process control techniques for identifying and evaluating risk decisions, and the methodology for performing risk-informed cost benefit analysis.

 

Key words: external corrosion, risk management

 

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