https://www.risk-technologies.com/filehandler.ashx?path=CRM/PROJECT/iRiS-PetroLeafletHQ_v12sh07012016.pdf 

Software features include:

• Analysis for pressure vessels, tanks, piping and pressure relief devices.
• Three levels of analysis from qualitative > semi-quantitative > quantitative.
• Automated inspection planning.
• Consequence values expressed in terms of risk per unit area, risk per unit area per year, financial risk, matrix cell location and provide the options to factor injury, equipment damage, downtime costs, and toxic, explosive, fire damage, environmental, effects into the analysis.
• Consequence models for various fluids and gases commonly encountered in the refining, petrochemical and chemicals industries
• Discrete risk values for each piece of equipment.
• Qualitative risk matrix rankings
• Financial risk calculation options.
• Data transfer utility to speed up information entry.
• Expert system damage module calculators for various specific corrosion mechanisms (localized and generalized), various specific cracking mechanisms, fatigue, creep, high temperature hydrogen attack, various embrittlment mechanisms, etc. These modules are based on recognized and generally accepted good engineering practices, i.e. the latest available
• Perform “What If” analyses to consider changes and new equipment/unit reviews.
• Report capabilities for all risk scenarios, matrices, risk summaries, consequence and likelihood basis reports and inspection plans.