Words from a leader
Nick Stavropoulos, formerly the President and COO of Pacific Gas & Electric, provided the following in a 2014 PHMSA Pipeline Safety Management Systems (SMS) Workshop on February 27, 2014, (available via YouTube). Nick summarizes in one sentence what an effective SMS should look like. Applying this to pipeline facilities, it perfectly summarizes what an effective FIMP should embody.
"Plan, Do, Check, Act: Know your assets, understand their condition, understand the threats that impact those assets, understand the mitigation measures that you can deploy against those threats, risk rank all of that, incorporate that work into your capital and operating budgets, and then check to see if you accomplished what you set out to accomplish."