Quantitative Risk Assessment (QRA) is the logical approach to evaluate risk of a facility in terms of consequences and probabilities. It assesses the hazard potential of all the storage units and processes associated with the plant. The initial focus will be on identification of the credible accident scenarios and others of lesser intensity and their consequences using hazard identification techniques. This is then followed by a quantitative estimation of the frequencies of all the events. The risk evaluated from all the events will be presented in convenient formats for interpretation and implementation.
Quantitative Risk Assessment (QRA) involves the evaluation of the facility in terms of risk numbers
- Evaluate and quantify risk to individuals within the site/plant as well as outside the boundaries.
- Offer practical suggestions on risk reduction measures
- Solve safety-related problems
- Improve operation efficiency, leading to fewer shutdowns
- Better communication and co-operation between operational personnel