The objective of this European Standard is to provide the RBI Framework (RBIF) and basic guideline for Risk-Based Inspection and Maintenance (RBIM) in hydrocarbon and chemical process industries, power generation and other industries. Although RBIF encompasses both inspection and maintenance, this document focuses primarily on RBI and its applicability within the context of RBIM. The RBIF thereby supports optimization of operations and maintenance as well as asset integrity management. The main goal of this European Standard is to facilitate the establishment of risk based inspection and maintenance programs in the industrial plants in a documented and efficient way, while, at the same time, legal regulations are complied with and safety, health, and environmental performance is maintained or improved. The RBIF addresses primarily the static containment equipment (e.g. tanks, piping), dynamic/rotating containment equipment (e.g. pumps, turbines, valves) and pressure relief devices, but can be extended to other types of equipment if appropriate. It addresses primary the equipment and/or systems in the in-service phase of the operation, but can be applied also in the, e.g. design-phase for analysis and determination of maintenance/inspection strategies or life extension phases. The RBIF approach can also be used to ensure that targets pertinent to health, safety and environment are achieved, providing that legislative requirements are implemented and the required actions are taken.