Confidence factor The confidence factor represents the analysis team’s faith in current maintenance or inspection practices to contain the failure mode’s risk. The confidence factor can adjust the inspection factor or likelihood of failure up or down. See Also Name Team member’s name. See Also Regulatory frequency Interval between inspections as mandated by the appropriate regulatory agency. This value is defaulted from the analysis asset (or its closest ancestor with a default regulatory frequency). Note: The regulatory frequency is copied to any indicators that are added to the RBI action plan, if permitted by the analysis’ failure mode settings for indicator collection information. See Also Next regulatory inspection APM calculates the next inspection date based on the last inspection date and regulatory frequency. See Also Inspection factor An inspection factor is the portion of the asset’s remaining life calculated for the current degradation rate to be used when calculating indicator collection dates. For example, an inspection factor of “0.5” means that the indicator reading should be collected at half of remaining life. The greater the confidence factor, the higher the inspection factor, meaning that the interval between inspections is greater. The inspection factor is based on the confidence factor, degradation type, consequence priority (criticality), and (optionally) integrity group of the failure mode. See Also Life adjustment factor A life adjustment factor is a portion of an asset’s by-design life span, for example, one tenth of its original estimated life. Typically, a life adjustment factor is used to estimate asset lining’s remaining life based on its condition at the time of inspection. This information is used to track the asset’s degradation. See Also Inspection interval An inspection interval is the period of time (usually years) between regularly scheduled inspections. Intervals are typically used with failure modes for assets prone to non-age related degradation, where process monitoring is more effective in avoiding degradation. See Also Inspection strategy The inspection strategy describes the action to be taken for this combination of degradation type, criticality, and confidence factor. An example is “Maintain current inspection / monitoring”. See Also Description The description of the item. You can use this box to include any additional details. Last inspection date Most recent inspection. By default, this field shows the date of the most recent indicator reading. You can change this date, if needed. See Also Selected yearly rate Degradation rate selected on the failure mode to apply to the failure mode’s indicator. See Also Number of inspections The number of inspections that returned the inspection effectiveness value. When the Evaluate Inspection Effectiveness function is run for the site, APM identifies processed indicator readings that specify an inspection effectiveness value within the specified time period. Using the rules set up for the site, the process calculates the inspection effectiveness value for each indicator. See Also Inspection effectiveness Inspection effectiveness provides a measurement of the thoroughness, sensitivity, and efficiency of the inspection strategy. When the Evaluate Inspection Effectiveness function is run for the site, APM identifies processed indicator readings that specify an inspection effectiveness value within the specified time period. Using the rules set up for the site, the process calculates the inspection effectiveness value for each indicator. See Also
