In nuclear, oil & gas, and other safety or production-critical industries, risk and reliability analysis is vital for continued safe and efficient operation.
RiskSpectrum ModelBuilder is a unique risk modelling platform that transforms the way equipment designers and risk assessment teams generate, manage and update risk models.
Building on the proven strength of KB3, originally developed and used by EDF for risk analysis across their critical infrastructure, RiskSpectrum ModelBuilder, accelerates and improves the generation of risk and reliability analysis by automating and standardising the risk modelling process.
This brings new levels of efficiency and productivity to the risk assessment of complex, safety and production-critical systems and offers a step change from existing standalone and manual processes. By using this platform, EDF has experienced productivity gains of 40-80%.
What we offer
RiskSpectrum ModelBuilder enables design engineers and risk analysts to automatically generate fault trees and other risk models from piping and instrumentation diagrams (P&IDs) and other component diagrams by drawing on a single, central repository of asset properties (knowledge base) for risk modelling across the organisation. These can then be easily exported, ready for analysis.
What are the benefits?
- Using a central knowledge base of asset properties, designers can create risk models faster and at lower cost, and auto-generate new models with each design iteration.
- External and on-site risk assessment teams can improve model quality with an automated, standardised approach to modelling and assessment.
- With the ability to rapidly build new models and update existing ones, risk assessors can also respond quickly to new demands and rapidly adopt new assessment methodologies.
- Because RiskSpectrum ModelBuilder is model-agnostic, it can also help risk professionals expand their capabilities and work with new types of risk models, including availability assessments and 'dynamic risk' analysis.
Why choose Lloyd's Register?
Lloyd's Register knows risk. We've been helping customers manage risk for 260 years and we build that expertise into our models to help complex safety-critical industries like nuclear, chemical and oil & gas maintain safe and efficient operations.
We've worked on over 1,000 nuclear projects, and 60% of the world's nuclear power plants use RiskSpectrum to secure continued safe operation, reduce downtime and achieve greater flexibility in plant operations.