Inspection
Work Planning
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The estimated likelihood that an asset or component will fail within a specified period or operating condition.
Probability of Failure (PoF) is the estimated likelihood that an asset, component or system will experience a failure within a defined period or under specified operating conditions. Within Risk-Based Inspection (RBI), PoF is evaluated using factors such as degradation mechanisms, equipment condition, operating history, inspection effectiveness and engineering analysis to determine overall risk.
Probability of Failure provides a quantitative measure of failure likelihood for risk assessment and integrity management.
PoF is commonly combined with Consequence of Failure (CoF) within risk assessment methodologies to prioritize inspection, maintenance and mitigation activities.
Probability of Failure estimates the likelihood of failure, whereas Consequence of Failure evaluates the impact should that failure occur.
Risk-Based Inspection; Reliability Engineering; Risk Management.
Oil and gas.; Petrochemical.; Power generation.; Manufacturing.; Infrastructure.
API RP 580; API RP 581
VisualAIM connects glossary concepts to the asset records, inspection histories, and workflows they describe.
