Evaluate risk and reliability
With probability of failure results calculated for every threat using any combination of the simple and advanced models, PIRAMID users can evaluate reliability directly or use the included consequence models to further calculate risk.
Risk calculation using CONSEQUENCE models
To calculate risk, PIRAMID considers three aspects of potential consequences: life safety, environmental and financial. It estimates all consequences related to product release from a small (pinhole) leak, large leak, and rupture using models that account for:
- Immediate consequences including possible injuries and property damage resulting from ignition of the released product. These are calculated using models that estimate the release rate and volume; the severity of the hazards that could ensue, such as fires, explosions and toxic clouds; and the resulting impact on property and people in the vicinity of the release.
- Long-term environmental consequences represent the health impact related to contamination of soil and ground water due to persistent liquid spills. This impact is measured by applying a clean-up model to the total spill volume, in order to estimate the residual volume lost to the environment. The residual volume is then adjusted to reflect environmental impact severity based on the type of product spilled and the damage susceptibility of the spill site.
- Business impact is calculated as the sum of the costs of line repair, lost product, service interruption, site clean up, and casualty compensation. Intangible aspects including the potential loss of goodwill with the public and regulators can also be included.