Page 304 - Pipelines and Risers

Chapter 16

Risk Analysis applied to Subsea Engineering

16.1 Introduction

16.1.1 General
In recent years risk analysis has become increasingly recognized as an effective tool for the
management of safety, environmental pollution and financial risks in the pipeline industry.
Since risk analysis has only recently become a part of the design process, few practicing
engineers are familiar with it. This chapter aims to introduce some auxiliary information and
examples that will allow an easier understanding of risk analysis.

After outlining the constituent steps of a complete risk analysis methodology, it is intended to
give detailed information about each step of the methodology such that a complete risk
analysis can be achieved (Sbrheim and Bai, 1999)

Willcocks and Bai (2000) gave a detailed guidance on evaluation of failure frequency,
consequence, risk and risk-based inspection and integrity management of pipeline systems.

16.1.2 Risk Analysis Objectives
The objectives of risk analysis are:

0 To identify and assess in terms of likelihood and consequence all reasonably expected
hazards to Health, Safety and the Environment in the design, construction and installation
of a pipeline;
To ensure adherence to the appropriate international, national and organizational
acceptance criteria.

The risks considered in this chapter include:

0 Societal (3d Party) Risk is the exposure to risk of any person not employed by the Owner
of the Pipeline. This is usually limited to passing fishing vessels and merchant shipping;