In 1994, the American Petroleum Institute (API) decided to develop the risk-based inspection (RBI) method. The methodology developed under API was published in 2000 as API PUBL 581, Basic Source Document - Risk-Based Inspection. This document was revised and edited in 2008, 2016 and 2020.

• Integratiy Pressure Equipment Management (AIM)

• Planning for periodic inspection of pressure equipment according to the probability of failure and the consequence of failure of the equipment.

• Saving the costs of inspection and repairs and maintenance of pressure equipment by considering the possibility of increasing the time intervals between major repairs

• RBI allows inspection to be focused on critical points of pressure equipment

• Avoiding unnecessary inspections and helping to increase the life of pressure equipment at a lower cost

• Systematic Assessment of each potential Damage mechanism and estimation of probability of Damage mechanism (PoF)

• Determination possible consequences (injury to people, environment, property loss) of equipment failure (CoF) caused by the Damage mechanism.

• Determination the remaining life of the equipment until reaching the risk line (Risk target)

• Determination the appropriate inspection technique and inspection effectiveness based on possible Damage mechanisms

The most important limitation of RBI is that it requires a large amount of data to identify Damage mechanisms and associated risks. Lack of accurate and reliable data can hinder the effectiveness of the RBI process.