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

According toAPI 580, Section 7.3, thequality of datais explicitly identified as having adirect relationto therelative accuracyof the RBI analysis:

“The data quality has a direct relation to the relative accuracy of the RBI analysis.Although the data requirements are quite different for the various types of RBI analysis, quality of input data is equally important no matter what approach to RBI is selected.”​

The section also emphasizes the need forvalidation of data inputs and assumptions by qualified personnel, underscoring the fact thatdata quality—not merely its precision or origin—is the key influencerof the reliability of results.

Therefore:

Data precision (A)andData validation (D)support reliability but arenot as foundationalto accuracy as overalldata quality.

Data sources (C)contribute to quality but are not as decisive as quality itself.

Correct and verified per API 580 Section 7.3.

API 580 Section 6.6 specifies:

“The resources and time required to implement an RBI assessment will vary widely between organizations depending on a number of factors including... g) degree of precision required.”

Other listed factors include knowledge and training, data availability, and complexity of analysis, but not the number of mitigation activities or whether CoF or PoF is the dominant risk driver.

As indicated in API 580 Section 11.8:

"Reduction of some risks to a lower level may not be practical due to technology and cost constraints. An as low as reasonably practical (ALARP) approach to risk management may be necessary for these items."

Thus, technology limitations are explicitly cited as a reason why some risks cannot be feasibly reduced further.