Quantitative Risk Assessment

Quantitative Risk Assessment or Analysis (QRA) is a formal and systematic risk approach to quantifying the risks associated with the operation of an engineering process. An essential tool to support the understanding of exposure of risk to employees, the environment, assets and its reputation, QRA also helps to make cost effective decisions and manages the risks for the entire asset lifecycle.

Consequence or Release Modelling includes emission & dispersion analysis to determine the extent and scale of toxic, thermal and pressure effects.

The MKOPSC PS Taxonomy includes the following topics:

  • Emission Analysis
    • Two-Phase Flow
    • Device Control Phenomena
  • Dispersion Analysis
    • Parameters Affecting Dispersion
    • Dispersion Models
  • Flammability
    • Combustion Elements
    • Flammability Parameters
  • Toxicity
    • Health Hazards
    • Environmental Hazards
    • Dose and Response Models

This topic relates to the following PSM elements:

Risk Assessment