API 580 Risk Based Inspection Practice Test

Which term defines the expected lifetime of a pressure-containing asset?

1. Service duration

2. Service life

3. Operational lifespan

4. Asset viability

The correct answer is: Service life

The term that defines the expected lifetime of a pressure-containing asset is "service life." This term encompasses the entire duration that an asset is expected to function effectively without requiring major repairs or risking safety and operational efficiency. It is crucial for asset management because understanding the service life helps in planning maintenance, inspections, and eventual replacement. Service life also influences risk-based inspection strategies, as assets with a defined service life may be monitored more closely as they approach the end of this period to mitigate risks associated with potential failures. While terms like operational lifespan and asset viability suggest a focus on how long an asset can technically operate, they do not specifically capture the concept of an expected functional duration as precisely as service life does.