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HIPPS means High Integrity Pressure Protection System. HIPPS is applied to prevent over-pressurisation of a plant by shutting-off the source of the high pressure.
Advantage of HIPPS.
HIPPS provides a solution to protect equipment in cases where:

high-pressures and high flow rates are processed
the environment is to be protected
the economic viability of a development needs improvement
the risk profile of the plant must be reduced
HIPPS is an instrumented safety system that is designed with higher system integrity than process shutdown and emergency shutdown systems and built in accordance with the IEC 61508 and IEC 61511 standards.

Emergency Shut Down Valve (also referred to as SDV or Emergency shutdown valve, ESV, ESD, or ESDV) is an actuated valve designed to stop the flow of a hazarous fluid or external hydrocarbons (gases) upon the detection of a dangerous event. This provides protection against possible harm to people, equipment or the environment. Shutdown valves form part of a Safety instrumented system. The process of providing automated safety protection upon the detection of a hazardous event is called "Functional Safety "
"Partial stroke testing (or PST) is a technique used in a safety instrumented system to allow the user to test a percentage of the possible failure modes of a shut down valve without the need to physically close the valve."
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