Chen and Toyoda (1990) proposed a strategy for maintenance scheduling based on equalizing incremental
risk. The risk-based inspection and maintenance strategy developed by the American Society of Mechanical
Engineers (1991) was used as a basis for developing a “base resource document on risk-based inspection” by
the American Petroleum Institute, API (1995).Work by Aller, Horowitz, Reynolds, and Weber (1995) and Reynolds (1995) constituted the basis for the development of a risk-based inspection policy for equipment owned by Brunei Shell Petroleum (Hagemeijer and Kerkveld (1998)).