Major Hazards

Quantitive risk assessment is used by companies in several ways, including analysing and ranking scenarios identified in process hazard analysis; providing quantitive data for use in decision making on risk; and comparing alternative process options.

QRA involves the following stages:

• Detailed frequency analysis of loss of containment or hazardous events using parts counts and/or specific frequency analysis using fault trees or event trees.
• Consequence analysis (magnitude and duration) using appropriate software for flammable and toxic releases.
• Analysis of damage to people, environment and property using industry criteria.
• Escalation analysis to assess effects of failure of major containment, vessels and pipelines under fire and blast impringement.

RAS can carry out QRAs to estimate individual and societal risk, risk to the environment and assets/property.