The IADC Lexicon (IADCLexicon.org) is a compendium of upstream-related terms, which, unlike conventional glossaries, are official definitions drawn from legislation, regulation and regulatory guidance, standards (global, national and regional), and IADC guidelines. 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.
(click the link to read the full definition on the IADC Lexicon.)