ADOPTED_FROM:CWA 15740:2008 The objective of this CEN Workshop Agreement document is to present a set of transparent and accurate framework for applying / implementing risk-based inspection and maintenance (RBIM) and risk-based life management (RBLM) in industrial organizations The document formulates the procedure for risk based approach, thereby supporting optimization of operations and maintenance (O&M) as well as asset management. The purpose of RBIM is to ensure that clearly defined and accepted levels of risk related to: - safety, - health, - environment and - business/production/operation are achieved using resource-efficient methods of inspection and maintenance. The methodology for RBIM described here is based on that developed in the European project RIMAP (Risk-based Inspection and Maintenance Procedures for European Industry) [11]. Within the RIMAP project, the RBIM methodology has been developed and validated for chemical, petrochemical, power and steel industries in Application Workbooks [20], [21], but the methodology as such is intended to be industry independent. The methodology addresses the following aspects: - Inspection and maintenance - All types of equipment, e.g. pressure containing, rotating, electrical, instruments and safety devices - Technical and managerial aspects of maintenance and inspection planning - Asset management related to inspection, maintenance and life assessment for plants, systems and components - Production and operation. Although RBIM encompasses RBI & RCM, this document focuses primarily onto RBI. The RCM is included only up to the extent to demonstrate the applicability in the overall context of RBIM.