SP3 for Advanced Seismic Risk Assessment (PML+)

Inspection of Seismic Damage

There are currently many methods that can be used for seismic risk assessment (e.g. PML reports). These methods are based on judgment and some earthquake experience data, and most methods were created more than two decades ago.

But, the methods are created for classes of buildings and the assessment often does not consider all the specific features of an individual building.

This creates a number of problems:

  • The many available methods lead to inconsistent results in risk assessment reports. The results in your report will depend heavily on which method is used.
  • Judgment is often used to handle the nuances of an individual building, and this judgment can differ widely between providers.
  • Current methods do not utilize the many years of insights from performance-based earthquake engineering research.

SP3 was created to address these concerns. SP3 provides a standardized and comprehensive method for seismic risk assessment, so the results are both credible and repeatable. The FEMA P-58 method underlying SP3 leverages the past 30 years of research, is state-of-the-art, and is fully transparent. SP3 has streamlined the P-58 method into an efficient software tool that can be used at the rapid pace required in the due-diligence world.

Lenders and investors can now specify SP3 as the preferred method for their seismic due-diligence reports, in order to have a consistent assessment based on the best available technology.

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