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

Section 11.6.3 of API 580 defines iso-risk lines:

“An ISO-risk line represents a constant risk level... All items that fall on or very near the ISO-risk line are roughly equivalent in their level of risk.”

This confirms that iso-risk lines plot constant risk across varying combinations of probability and consequence.

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.

As stated in API 580 Section 7.3:

“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.”

This highlights that data quality is critical across qualitative, semi-quantitative, and quantitative analyses.