The first edition of this book was written at a time when formal
risk assessments of pipelines were fairly rare. To be sure, there
were some repairheplace models out there, some maintenance
prioritization schemes, and the occasional regulatory approval
study, but, generally, those who embarked on a formal process
for assessing pipeline risks were doing so for very specific
needs and were not following a prescribed methodology.
The situation is decidedly different now. Risk management is
increasingly being mandated by regulations. A risk assessment
seems to be the centerpiece of every approval process and every
pipeline litigation. Regulators are directly auditing risk assessment
programs. Risk management plans are increasingly coming
under direct public scrutiny.