Quantitative risk assessment is summarised in these steps:
Hazard Identification, to determine hazard and categorisation of MAH
Release Frequency Analysis, to calculate the total release frequency for all release scenario through part counts
Consequence Modelling, to model the consequences (JF, FF, PF, EX)
Event Tree Analysis, to determine the potential end event likelihood
Risk Assessment, to estimate the fire impairment and personnel risk during the loss of containment