The IADC Lexicon is an oil and gas dictionary of upstream-related terms, which, unlike conventional glossaries, are official definitions drawn from legislation, regulation and regulatory guidance, standards (global, national and regional), IADC guidelines, and Well Control Institute. Terms often have multiple definitions from different sources.
This month’s Featured Term is:
“Load and Resistance Factor Design” (Source: Offshore Standard DNV-OS-C101, Design of Offshore Steel Structures, General (LRFD Method, Det Norske Veritas, April 2011.):
Method for design where uncertainties in loads are represented with a load factor and uncertainties in resistance are represented with a material factor.