RBI is an approach to prioritize inspection in all process industries and especially for Oil & Gas sector, in order to analyze the probability and consequence of failure of an asset to calculate its risk of failure. The intensity of risk is used to develop a prioritized inspection plan for the asset. RBI study has become an essential tool for Oil platforms, Refineries, Exploration & Production units, Industrial pipe work, process systems, pipelines, structures and many other types of assets in the industries. RBI is an effective tool and has advantage over conventional inspection by applying strategy confirming what exactly needed for safeguarding integrity. It improves reliability of the asset by planning and executing those inspections that are needed.