Research on Systemic Risk of Pressure Special Equipment

Traditional risk management or risk-based inspection focuses on the probability and the consequences of failure almost without considering the impact on society of the failure events. Social impact of a failure event resulting from a same type of equipment but with the occurrence of the event in the occasion with different public opinion and mental capacity is not the same. The social impact of an event resulting from a pressure special equipment, namely a risk intensity as a modified factor is introduced in this paper based on the traditional description of risk. A systemic risk model is developed after the consequences of failure is modified by the risk intensity. The model built explains the phenomenon well that the failure of the same equipment in different occasions has different social impact.