Probability and Consequence

This article reviews features of a new American Society of Mechanical Engineers (ASME) standard named PCC-3-2007 Inspection Planning Using Risk-Based Methods, which aims to make method of inspection available to a wider group of industries. Petroleum and power businesses enhance efficiency by weighing their risks and keeping watch. PCC-3 provides guidance by listing the many parameters that influence the damage mechanisms as well as many parameters that can influence the rate of damage. The standard provides a table with listings of possible damage mechanisms along with their definitions, common attributes, and references. PCC-3 provides planning details to develop consequence scenarios with different associated probabilities. The framers of ASME’s standard believe that proper applications of the new PCC-3 can lead to major cost savings and allow for application of technically based engineering judgments on expenditures for large capital, inspection, and safety improvements for most industries.