Abstract Management of operating costs and resource planning is fundamental to maximising asset value. However, there is a balance between the capture of cost reduction and revenue enhancement opportunities and management of health, safety, environment and integrity risks. A process is described that allows risk reduction activities to be ranked on an equitable basis with straightforward economic opportunities. The resulting ranked list of ideas forms the basis of prioritisation for input to activity planning, estimates of budget targets to maintain asset integrity and to manage expenditure within budget targets and known levels of risk.