Risk-based verification (RBV) is a structured, systematic process using risk and cost-benefit analysis to strike a balance both between technical and operational issues and between safety and costs. This provides the ability to focus your verification effort where the contribution is cost effective.

Purpose

Verification provides the required assurance towards stakeholders and regulatory authorities that projects are implemented right the first time. Our independent and competent appraisals of your field developments ensure that they are designed, constructed and installed in accordance with project objectives.

Benefits

Risk-based verification has a higher impact and added value when implemented at the outset of the project. However, benefits can be gained from utilisation of RBV at any stage of an asset’s life cycle.

Advantages of implementing DNV’s approach to RBV include:

• Incorporating owner’s specifications and performance criteria at an early stage
• Substantial risk reduction by identifying failures in the design process
• Correct decision making and minimal rework
• Less attention on activities and areas of low risk
• Improvement of the asset’s availability and reliability throughout its life cycle
• Contribute to optimising expenditures in high risk areas.

We strongly believe that an open approach to the thoroughness and level of involvement in certification and verification tasks will enable you as operator or stakeholder to reduce your risks at an optimal cost.

Our approach

RBV methodology enables the project designer/operator to focus on the more critical aspects of the project, and hence reduce risk. The verification is normally carried out by a combination of document review(s), simplified or advanced independent analysis, audits, inspections and quality control, and witnessing of tests.

RBV methodology involves the following steps:

• Hazard identification
• Risk assessment
• Evaluation of risk-control options
• Recommendations for decision-making
• Development of a verification plan
• Performing verification according to plan.

For standard designs and products with known failure modes and hazards, the verification’s level of involvement and sophistication is predefined according to the probability and consequence of failure. These verification levels are categorized as low, medium or high, as schematically illustrated in the figure on the right. RBV methodology provides recommendations for selecting a suitable level of verification and/or certification commensurate with the complexity of the project and its associated risk of failure.

For the appropriate level of verification, required checks and inspections are defined for the following activities:

• Structural design review
• Flow assurance design review
• Independent calculations
• Fabrication
• Installation
• Commissioning.

To administer and facilitate the RBV process, DNV has developed a database that keeps track of all critical elements in the plant system and the verification tasks related to each element, including the status and progress of verification activities.