Step 3: Populating the External Assessment
Shows a 5×5 interactive risk matrix estimating impacts. While AXIS uses a semi-quantitative internal and external Risk-Based Inspection evaluation.
To complete the external assessment, enter the Likelihood of Failure, estimated Economic, Health, Safety, and Environment Impacts in the event of failure.
AXIS automatically generates your Consequence of Failure, Inspection interval, and the next inspection date – ensuring asset reliability management.