What is Risk Based Inspection Software?
Risk-based inspection software is a digital tool that helps companies optimize their inspection activities to help managers strategize and implement ways to manage risks based on priority levels. With the help of data analytics, managers can qualify and quantify risks, rank assets or systems based on the likelihood of failure, and plan for potential consequences. This type of platform has applications for inspection scheduling, resource allocation, and maintenance planning, among others.
What is Risk Based Inspection?
Risk Based Inspection (RBI) is a systematic way to plan equipment inspections and maintenance plans based on an assessment of the risk of failure. Instead of relying on fixed schedules or observed conditions, RBI looks at two key things: the probability of failure (PoF) and the consequence of failure (CoF). By combining these insights, it helps teams focus their time and resources on the equipment that poses the greatest risk.
Importance and Benefits
The American Petroleum Institute introduced the RBI approach so organizations working in high-risk industries such as oil and gas, petrochemicals, and power generation can effectively manage risks. Adopting the RBI system allows them to proactively identify, assess, and prioritize risks before they escalate. Having an RBI software within your organization can help you:
Produces data-driven decisions: Use analytics for informed, evidence-based choices to reduce guesswork and improve accuracy in managing and identifying the impact of risks with the help of risk assessment tools.
Optimizes resource allocation: Rank and calculate risks to prioritize time, manpower, resources, and funding on the most critical threats.
Provides a cost-effective maintenance strategy: Schedule and track inspections and maintenance activities to prevent equipment failure and costly downtime, protecting both assets and personnel.
Ensures compliance with regulations: Utilize readily-available compliance checklists to ensure organizations meet industry standards and avoid legal penalties.
Guarantees operational safety and employee health: Integrate safety modules into the RBI software for a secure work environment to protect workers, maintain productivity, and support continuous business operations in high-risk industries.
Key Features
An RBI software could be a stand-alone application or a module in other platforms such as a Computerized Maintenance Management System (CMMS), asset management, or other industry-specific solutions. Whichever you decide to use, make sure to look for the following:
Template library of premade editable forms
Document management with a secure repository
Risk assessment tools
Inspection planning and scheduling
Asset and workforce monitoring
Documentation and reporting
Compliance monitoring
Continuous education and training
Integration with third-party apps
Mobile accessibility with offline capabilities
How to Choose the Right Risk Based Inspection Software
The options detailed above will prove to be an asset to your organization’s aim to conduct RBIs, mitigate risk, and maintain compliance with various operational and safety standards. Check out the summary below before you take your final pick:
Risk Based Inspect | Free Version | Paid Plan | Mobile App |
Mitti (by SafetyCulture) | Yes | $24/seat/month* | Yes |
InspectAll | None | $49/user/month | Yes |
Quentic | None | Contact vendor for pricing | Yes |
Ecesis | None | Contact vendor for pricing | Yes |
Inspectivity | None | AUD75 (~$48.63) | Yes** |
FORM | None | Contact vendor for pricing | Yes |
* billed annually
** Android only
