In today’s competitive and changing environment, it is crucial that pipelines and associated facilities create and sustain value for their stakeholders. This value can only be achieved by incorporating dependability into the pipeline system, in whole or in part. Dependability characteristics address not just availability and reliability as the probability of successful performance, but also identify other potential risk exposures such as degradation and wear-out that advocate the need for maintenance and logistic support to sustain “problem free” pipeline and facility operation. Dependability engineering provides practical means and measurable targets for achieving value, which are then implemented by sound operational risk assessment practices. Dependability management is needed to present viable business success options on risk avoidance, prevention, and mitigation; and where applicable, provides cost-effective risk treatments to support pipeline operation and enhance facility management. Characterizing the value of dependability focuses on two key issues: (1) what is the value of dependability, and (2) what is required to achieve it. This paper establishes a unified approach for understanding the dependability principles and practices, and enunciates how dependability value can be ascertained and assured in real life situations. It presents a general framework and provides implementation guidelines for ensuring that dependability value can be achieved in practical application for pipelines and facilities.

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