Core Integrity's Risk Management Process is designed according to CSA Z662 Annex B and the NACE Pipeline Internal Corrosion Decision Tree Process, providing a structured and comprehensive approach to pipeline risk management. Our process goes beyond traditional risk assessment by incorporating mitigation programs to give a more accurate representation of the overall risk level.
Risk Estimation
In this phase, two key parameters are considered:
This phase involves determining the significance of identified risks and prioritizing them based on their likelihood and potential impact.
To support risk estimation and evaluation, we use the Risk Assessment Matrix, which is developed based on CSA Z662 Annex B, Figure B.2 and can be customized to align with your corporate risk matrix model. The matrix takes into account a variety of factors to assign a risk level to each pipeline.
Incorporating the Failure Mode Effect Analysis (FMEA) Model, we calculate the risk level by considering the probability and impact of each identified risk.
The Risk Estimation Score Legend classifies risks into four levels:
This classification helps guide decision-making and the development of appropriate mitigation strategies.
The entire Risk Management Process considers 25 parameters and sub-parameters, ensuring a thorough evaluation of each pipeline's integrity. This multi-parameter approach ensures that all potential risks are addressed comprehensively, from initial identification to ongoing monitoring and mitigation.
