Asset Risk Evaluations
Orbital recognized the benefit for having Risk Based inspection programs years ago. Orbital’s Condition-Based Risk Management Program was developed in-house and has been used successfully for over 10 years. This Program provides the opportunity to evaluate and manage assets based on both inspected condition and analyzed risks. Condition results and risk evaluations for safety, environmental, and operations are assigned numerical values and are entered into Orbital’s Orbits database. This database generates inspection reports, and also calculates a relative risk ranking for each structure based on the condition and risk inputs. With use of the Orbital Condition-Based Risk Management Program, funding for future inspections and/or repairs can be appropriated to our customer’s assets based on both condition & risk.
Some of the Program results include:
- Condition-Based Risk Assessments and Ranking
- Inspection Frequency Optimization
- Prioritization of Repairs
- Asset Life Expectancy Evaluations