Each system has it's own issues so what works for one won't work for another.
Elevation, if that's what you're talking about, is subjective. As system designed for 10 psi of a liquid will be affected by a small change in elevation. One designed for 500 psi of a gas won't.
So it's just somehting which you need to consider when trying to find the worst case pressure location or set of circumstances to make your design safe. In the example given by alchemon that's what he or she has done. In normal operation the pressure might only be 230 psig or lower if you flow more than 40GPM (in the example), but when you have no flow and shut in head then the pressure can increase. Your design needs to allow for the reasonable worst case.
If say your pipe from the pump then went down by say 10m this would add about 15psi to the design pressure of the pipe.Something like 30m (45 psi) starts to become significant so would need to be added also.
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