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http://dx.doi.org/10.7842/kigas.2020.24.4.84

Cost-Benefit Analysis Method for Ageing Equipment of Chemical Plants Using Risk Assessment  

Jung, Soomin (Department of Chemical Engineering, Kwangwoon University)
Jung, Changmo (Department of Chemical Engineering, Kwangwoon University)
Kang, Seok-Min (Department of Chemical Engineering, Kwangwoon University)
Chae, Seungbeen (Department of Chemical Engineering, Kwangwoon University)
Kang, Seung-Gyun (Department of Chemical Engineering, Kwangwoon University)
Ko, Jae Wook (Department of Chemical Engineering, Kwangwoon University)
Publication Information
Journal of the Korean Institute of Gas / v.24, no.4, 2020 , pp. 84-92 More about this Journal
Abstract
Most facilities in chemical plants operate in environments that are outside the range of temperature and pressure that can be encountered on a daily basis, and are vulnerable to aging due to these stresses and environmental conditions. The facilities exposed to these conditions are not only likely to fail due to cumulative damage, but also lead to accidents if maintenance and replacement are not performed.Recommendation guidelines called risk-based inspection are widely used around the world-wide. However, limits exist for facilities that have already elapsed for a certain. As a result of the survey on the aging of Ulsan industrial complex in Korea, which carries out proper inspection, many of the facilities have been used for 20 years. Also, most of the facilities where the accident occurred have been in operation for more than 20 years. Therefore, this study suggested criteria for classifying devices that have exceeded a certain period of use as obsolete facilities. In addition, quantitative risk assessment was conducted. The safety investment method using the cost-benefit analysis method was proposed in order to calculate the loss cost and reduce the risk by expressing the risks of the corresponding aged facility as an Economic index. By utilizing the method of cost-benefit analysis of old facilities using the quantitative risk assessment presented in this study, it can be expected to improve the performance and life of old facilities, improve production efficiency and reliability of the system of facilities, change the recognition of safety management costs, increase employee stability, and reduce loss costs.
Keywords
Cost-Benefit; Risk Assessment; RBI; Wear-out Failure; Ageing;
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