API-580 practice question 23 of 25
______________to be established to judge acceptability of risk could he an objective of the rbi assessment if such criteria do not exist already within the user's company.
Full set: 140 questionsAn objective of a Risk-Based Inspection (RBI) assessment can be to establish the terms of reference against which the significance of a risk is evaluated. These are known as risk criteria. If a company does not have predefined levels of acceptable and unacceptable risk, the RBI process can help develop them. This provides a consistent basis for making decisions about risk management and inspection planning.
B. Risk plan: A risk plan is the output of managing risk, detailing actions to be taken, not the criteria for judging the risk itself.
C. Risk analysis: This is the process of identifying hazards and estimating risk; it does not establish the acceptability criteria.
1. API Recommended Practice 580, Risk-Based Inspection, 3rd Edition, February 2016, Section 1.2: "A secondary objective of an RBI assessment may be to establish risk criteria to judge the acceptability of risk if such criteria do not exist already within the user’s company."
2. API Recommended Practice 580, Risk-Based Inspection, 3rd Edition, February 2016, Section 3.1.71: Defines "risk criteria" as "Terms of reference against which the significance of a risk is evaluated."
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