Quantitative Risk Assessment Studies

Understanding risk is essential for effective and cost-efficient decision-making, as well as for establishing a comprehensive technical risk perspective for the entire asset lifecycle.
A Quantitative Risk Assessment (QRA) is a crucial tool for evaluating the risks associated with the use, handling, transportation, and storage of hazardous substances.

What is Quantitative Risk Assessment (QRA)?

QRA is a systematic method for identifying and understanding the risks linked to hazardous activities, such as plant operations. It involves calculating a numerical estimate of the likelihood that a specified harm will result from a particular event. The results of the study also highlight the impact of accident scenarios on facilities outside the installation.

Why Conduct QRA?

• Regulatory compliance: Often mandated for facilities to demonstrate risk awareness to regulators.
• Recognized as best practice by many.
• Applicable when dealing with new, complex, or unusual situations.
• Necessary for sites with overlapping risk profiles.
• To inform local stakeholders about offsite risks.
• To identify likely scenarios for emergency preparedness.

What You Get?

• Analysis of potential accident scenarios, including their consequences and the factors that initiate and control them.
• Estimation of fatalities (individual, group, and societal risk).
• Projection of economic losses.
• Prediction of environmental impacts.
• Assessment of risk to key safety functions.
• Input for operational limitations and design requirements.
• Identification and evaluation of preventive and mitigation measures.
• Determination of the necessity and function/requirements of safety barriers.
• Consideration of the effects of uncertainties and assumptions.