Risk-Based Inspection planning (RBI) for offshore facilities such as Floating Production, Storage and Offloading facilities (FPSO's) has become an issue of considerable interest during the last decade. This paper provides an outline of an Integral Risk-Based Inspection planning approach adapted in the offshore industry for the purpose of managing risks related to the operation of FPSO's. The approach is based on overall facility risk acceptance criteria which concern risks to personnel, risks to the environment and economical risks. From the overall facility risk acceptance criteria, the risk acceptance criteria for the individual process components and structural components are derived and the required inspection and maintenance strategies are assessed on the basis of methods of traditional risk analysis and structural reliability theory. The approach is illustrated on an example considering the detailed inspection and maintenance planning for a welded connection in the hull structure of a FPSO.