PROBABILITY OF FAILURE & RISK ANALYSIS
OWNERS AND OPERATORS OF CRITICAL FACILITIES ARE CONSTANTLY CONTEMPLATING THE RISK OF DOWNTIME TO THEIR FACILITIES, AND WEIGHING THAT RISK AGAINST AVAILABLE CAPITAL AND OPERATING BUDGETS.
IN ORDER TO PROPERLY ANALYZE WHERE AND TO WHAT EXTENT A FACILITY IS AT RISK OF DOWNTIME, THE OWNER OR OPERATOR NEEDS TO UNDERSTAND THAT RELIABILITY AND AVAILABILITY ARE TWO DISTINCTLY DIFFERENT FACTORS IN THE RISK EQUATION.
A SYSTEM OR COMPONENT CAN BE HIGHLY AVAILABLE BUT NOT VERY RELIABLE WHILE ANOTHER MAY BE HIGHLY RELIABLE BUT NOT VERY AVAILABLE. WHAT IS A MORE IMPORT AND MEANINGFUL REPRESENTATION OF RELIABILITY AND AVAILABILITY TO MISSION-CRITICAL OPERATIONS IS “PROBABILITY OF FAILURE”.
PROBABILISTIC RISK ASSESSMENT (PRA) IS A SYSTEMATIC AND COMPREHENSIVE METHODOLOGY TO EVALUATE RISKS ASSOCIATED WITH A COMPLEX ENGINEERED TECHNOLOGICAL SYSTEM.
Rubicon applies the principals of Probabilistic Risk Assessment in order to determine the statistical reliability and availability of your critical facility. Our experts have spent years understanding and using the science of PRA, and have had their work validated by other experts in the field of reliability analysis.
With Rubicon on your team, you can make an informed decision on applying prudent operational and capital funds to address the real risks to your facility.