Items with high probability and high consequence (i.e. high risk) are given a higher priority for inspection than items that are high probability but for which failure has low consequences. This strategy allows for a rational investment of inspection resources.
RBI assists a company to select cost effective and appropriate maintenance and inspection tasks and techniques, to minimize efforts and cost, to shift from a reactive to a proactive maintenance regime, to produce an auditable system, to give an agreed-upon operating window, and to implement a risk management tool.
The purposes of RBI include:
International engineering standards and recommended practices outline requirements, methodologies and the implementation of RBI.