A previous incident impacts the degree of belief about future failure potential in proportion to its relevance as a predictor. Historical incident information, properly adjusted for relevance, is used to tune or calibrate the model’s frequency of failure (FoF) estimates when absolute estimates of risk are needed.
Some older risk assessment techniques over-emphasize the role of historical information, thereby reducing the utility of their risk estimates.
link to PHMSA data
CERM_dashboard_ https://pipelinerisk.org/cerm_dashboard/
