Transitioning from complexity to clarity: Quantifying facility risk for strategic advantage
Compressors fail unexpectedly. Regulator stations endure pressure fluctuations daily, creating wear patterns invisible to the naked eye. Valves and pumps with many moving parts wear out quickly, often unnoticed until failure.
These key assets - crucial to pipeline networks - face specific challenges that traditional Pipeline Safety Management Systems (PSMS) may not address effectively. When these assets fail, the consequences cascade far beyond the immediate repair costs. Operations halt, emergency teams scramble, and capital budgets strain under unplanned expenses.
Most concerning is perhaps the unquantified risk exposure that becomes increasingly difficult to justify to stakeholders and regulators.