Reliability and risk-based inspection planning (RBI) has been developed in the past for single structural details subject to fatigue, based on structural reliability analysis. This paper extends the methodology to systems with a stochastic dependency between the individual fatigue hot spots. It addresses the general decision theoretic problems that arise when dealing with RBI of systems. The differences to inspection planning for individual hot spots are listed and discussed. Using a generic format for single hot spots, a consistent approach to the problem is proposed, based on the concept of Value of Information. Possible applications of the methodology are outlined.