A measurable statement, expressed in qualitative or quantitative terms, of the performance required of a system, item of equipment, person or procedure, and that is relied upon as the basis for managing a hazard.
Source: OGP Report No. 415, Asset integrity – the key to managing major incident risks, International Association of Oil & Gas Producers, December 2008. Global Standards
Performance standards are explained in the box below:
A performance standard is a statement, which can be expressed in qualitative or quantitative terms, of the performance required of a system, item of equipment, person or procedure, and which is used as the basis for managing the hazard – eg planning, measuring, control or audit – through the life cycle of the installation. The regulation does not specify what performance standards should be – that is for the duty holder to decide, taking account of the circumstances on the particular installation.
Source: Prevention of Fire and Explosion, and Emergency Response on Offshore Installations, Offshore Installations (Prevention of Fire and Explosion, and Emergency Response) Regulations 1995, Approved Code of Practice and guidance (UK HSE L65), Second Edition, 1997. Regulatory Guidance