The performance of valves and other final elements have a significant impact on the operations and safety performance of a process plant. Establishing effective programs based on realistic performance expectations is necessary to balance both cost and risk. Cost drivers include equipment and maintenance costs while risk can come from health and safety concerns as well as equipment availability. Gathering trusted information that can help inform decisions related to these factors can prove challenging.
To create a holistic view of field failure information, several key things need to be examined. These include collecting failure data, the functional failure modes of the equipment in question, available field studies, and finally, application stress considerations. We begin by looking at the most common ways of collecting field data.