A Semi-QRA is an alternative approach to risk analysis, which highlights the assessment of hazards and barriers, risk influencing factors, and safety improvement measures. The analysis is conducted on the basis of hard data and analysis of failure causes, barrier performance and scenario development.Continue Reading
By quantifying the risk based on the probability and severity of an event occurrence. Probability refers to the likelihood of occurrence whereas severity refers to the magnitude of the loss.Continue Reading
QRA is a consolidated and systematic risk analysis approach to quantify the risks associated with the operation of an engineering process. Usually, the results obtained from a QRA is to address the risks to People, Environment, Assets and Reputation (PEAR).Continue Reading
Qualitative assessment takes into consideration less tangible factors and is based more on gut reaction than on hard facts and data. Quantitative assessments are based on facts and associated data.Continue Reading
Can be qualitative or quantitative depending on the tools used. HAZID and HAZOP is more qualitative analysis as the objective is more to identify any potential risks, determine the risk reduction measures and prioritise the action/risk reduction measure using the risk matrix. While other tools such as LOPA is more quantitative, a series of data...Continue Reading
The quantitative risk analysis focuses on the major accident risk calculation, including its probability of occurrence and estimation of the magnitude of impact/modelling of the impact from the hazards should it lost of control, as well as identification and recommendation of the safeguard to minimise the risk.Continue Reading
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,...Continue Reading