Purpose – The purpose of this paper is to determine the unproductive time and additional cost to re-engineer a safety control system for a Floating Production Storage Offloading vessel that was originally engineered and documented in computer-aided design (CAD). Design/methodology/approach –...

This study proposed a new LCC (life cycle cost) methodology with the risk expenditure taken into account for comparative evaluation of offshore process options at their conceptual design stage. The risk expenditure consisted of the failure risk expenditure and the accident risk expenditure. The...