With increasing pressures to reduce costs, it becomes critical that inspection and maintenance efforts be streamlined for utmost efficiency. To acheive this, many organizations turn to Risk Based Inspection (RBI) for a methodology that assesses the probability of failure against consequence to optimize inspection activities based upon overall risk. Companies need an RBI program in compliance with API 580 that is seamlessly integrated to inspection management.

Meridium's Risk Based Inspection (RBI) module provides a complete RBI work process, which allows for the documentation of corrosion circuits and potential damage mechanisms, the calculation of overall risk by evaluating the damage mechanisms, and implementation and execution of the inspection strategy. The Meridium solution provides an integrated criticality calculator, but also has standard interfaces to other popular calculators used in industry. Meridium's RBI module provides the key work processes to not only calculate risk but also to drive the overall RBI program and ensure that inspection strategies are evaluated as equipment condition changes, ensuring an evergreen program.

With the Meridium RBI solution, a user is empowered to:

• Rank fixed equipment based on criticality, which is calculated based on the probability of failure and consequence of failure
• Develop inspection plans using canned and/or customer-defined Inspection strategies
• Document and track activities identified in the inspections plan
• Ensure compliance and manage risk at an optimum level using pre-defined reports and metrics