API-580 Exam Dumps : API 580 - Risk Based Inspection

API 580 defines risk mitigation as follows:

“Risk mitigation: Process of selection and implementation of measures to modify risk. The term risk mitigation is sometimes used for measures themselves.”

This definition is provided in Section 3.1.67 of API 580. It is also emphasized throughout the document that mitigation may address either probability or consequence or both, and includes actions such as inspection, maintenance, repair, replacement, and design changes.

After planning is completed, API 580 Section 6.1 states:

“Once this portion of the RBI planning process has been completed the data and information required for collection should be identified.”

This confirms that the next step involves identifying the data needed for analysis, not directly jumping to failure modes or mitigation.

As stated in Section 11.4 of API 580:

“Sensitivity analysis typically involves reviewing some or all input variables to the risk calculation to determine the overall influence on the resultant risk value.”

This process helps identify which input variables most significantly affect the final risk values. Such variables are prioritized for validation and refinement to improve the quality of the analysis.