Operating a facility comes with multiple aspects of technical and business goals. One common goal is to maintain production at maximum while minimizing cost, and it is only achievable if the pertinent risks are properly assessed, whether it is aligned with an “operate-to-failure” or a “prevent-at-all-cost” philosophy. Identifying and mapping the risks eliminate having to act without proper knowledge within a limited reaction time. Therefore, a risk based inspection (RBI) can be defined as the control mechanism of a proactive and predictive integrity management of a facility, where proper allocation of resources can be planned and accounted for. This means the inspection strategy is driven by risk and prioritized for the high-risk equipment.