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Viewing Asset Risk Summaries

To complement asset-focused overviews, APM provides summaries of risk statistics on the Site and Asset windows. You can view risk information about the individual asset or about it and its descendants in the hierarchy. Besides viewing summaries, you can also view assets with similar risk.
The data in a risk summary is derived from risk assessments on the asset’s failure modes. Summaries are available for:
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Integrity – Based on RBI analyses
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Reliability – Based on MTA2 and RCM2 analyses
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Safety – Based on SIF and HAZOP analyses
Note: Asset hierarchy risk summaries are generally available product features. You must first enable features 121 and 137 to use the functionality in APM. In the Enterprise window, select the Features view and the Enabled Features tab. Click Browse, select “Asset risk summaries” and “Asset hierarchy risk summaries”, and click OK. If APM is running as a smart client, click Refresh Enabled Features on the server. Then restart the client to use the functionality.
Each summary is based on the asset’s maintenance action plans for which criticality evaluation was performed, as long as the failure modes are marked “implementation completed”. Only primary action plans are considered, with the exception of Shortest task frequency, which includes secondary action plans as well. If versions are in use, only the current version of the failure mode is included.
Tip: This topic explains how to view risk summaries for individual assets and their descendants. You can also view asset risk information for all assets in the site. In the Site window, select the Hierarchy Risk or Asset Risk view.
The asset type determines which summaries are available in the Asset window. For more information, see **Setting up Asset Types.
This topic explains:
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To View Risk Summaries
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To View Hierarchical Risk Information
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To Update Asset Risk Summaries
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To View Assets with Similar Risk
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Viewing the Site’s Risk Summary Charts

To View Risk Summaries

1.
Open the Asset window.
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Select the Asset Risk view.
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Select the appropriate Risk Summary tab. Here is an example of an Integrity Risk Summary:
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Click for any of the values to open a dialog listing failure modes that represent that value. In the example, you could open the dialog next to Criticality to view a list failure modes with the criticality score of “Extreme”:
The Assets tab shows a list of assets in the same branch of the hierarchy with their summaries. If the Circuit tab is available, it shows the same information for assets in the circuit.

To View Hierarchical Risk Information

1.
Open the Asset window.
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Select the Hierarchy Risk view.
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Select the appropriate Risk Summary tab. Here is an example of a Reliability Risk Summary:
The Failure modes and relative risk area displays:
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Number of failure modes – Sum of the failure modes on the asset and descendants
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Total relative risk – Sum of the total relative risk scores on the risk summaries of the asset and its descendants
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Highest relative risk – Highest relative risk of the summarized assets
The Highest criticality evaluation results area displays the highest values from the asset’s and its descendants’ analyses. You can click a drill-down icon () to open a window listing the failure modes that have that value.
The Other summaries area displays the shortest task frequency on the summarized assets.
The Integrity Risk Summary tab includes the following:
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Lowest confidence factor
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Lowest inspection factor
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Highest inspection strategy based on criticality
The Safety Risk Summary tab includes:
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Highest safety risk level
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Lowest earned risk reduction
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Highest mitigated risk summary

To Update Asset Risk Summaries

1.
Open the Asset window.
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Click the Tools menu and then Update Risk Summary. All of the risk summaries for the asset are recalculated.
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To update all of the risk summaries for the site, open the Site window.
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Click the Tools menu, Strategy Development, and Update Risk Summaries.
Tip: You can also set up the Update Risk Summaries scheduled action to perform the function automatically on schedule. For more information, see Creating a Scheduled Action.

To View Assets with Similar Risk

Using this tool, you can view all assets on the site that share criteria values. To view assets with similar risk, open the Asset window, click the Tools menu and then Similar Risk Profile. The Asset with Similar Risk window opens. For example:
You can select one or more criteria from the Match list. The “Assets that match” table has columns showing risk information.

Viewing the Site’s Risk Summary Charts

In the Hierarchy Risk and Asset Risk views in the Site window, you can select the Summary tab to view the following charts:
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Criticality summary
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Probability of failure summary
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Consequence summary
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Economic severity summary
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Health and safety severity summary
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Environmental severity summary
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Reputation severity summary
Each of the Reliability, Integrity, and Safety tabs contains a Summary tab. Here is an excerpt from the Site window’s Asset Risk view, Reliability tab, Summary tab:
Double-click a slice to view the assets responsible for the statistic: