Archive for the ‘Risk Management’ Category

Four Faces of Pipeline Risk Models

Four Faces of Pipeline Risk Models

Pipeline Risk models can be categorized into four general categories – Qualitative, Relative/Index, Quantitative & Probabilistic. While PHMSA indicates that Probabilistic modeling is the most effective, here’s a breakdown of each category & its ability to support pipeline operator decision-making. Qualitative Models use qualitative inputs and outputs. The models translate any quantitative inputs into ranges […]

PHMSA Calculates PRA As Best Practice For Risk Modeling

PHMSA Calculates PRA As Best Practice For Risk Modeling

On the back of the Mega Gas Rule, PHMSA and the US Department of Transportation assessed the suitability of different risk models based on the capability of each model to support required risk management decisions. As a result, Probabilistic models have been deemed the only Best Practice model for supporting all decision types. Why Is […]

ENERCON Launches PRA Tool for Pipelines & Facilities

ENERCON Launches PRA Tool for Pipelines & Facilities

ENERCON is proud to announce the launch of a new Midstream Probabilistic Risk Assessment (PRA) model, which provides the capability for improving upon existing Integrity Management Programs and defining risks for pipelines and other assets. PRA models provide an integrated and quantifiable solution to the hazards and threat assessments as defined within an operators’ risk […]

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