Risk Analysis is proven valuable as a management tool in assessing the overall safety performance of the Chemical/ fuels Process Industry. Although management systems such as engineering codes, checklists, and reviews by experienced engineers have provided substantial safety assurances, major incidents involving numerous casualties, injuries and significant damage can occur - as illustrated by recent world-scale catastrophes. Risk Analysis techniques provide advanced quantitative means to supplement other hazard identification, analysis, assessment, control and management methods to identify the potential for such incidents and to evaluate control strategies.
This study tries to quantify the risks to rank them accordingly based on their severity and probability. The report should be used to understand the significance of existing control measures and to follow the measures continuously. Wherever possible the additional risk control measures should be adopted to bring down the risk levels.
Software such as PHAST & PHAST RISK, EFFECTS, ALOHA are used to carry out the modelling of probable outcomes such as fire, explosion, vapour cloud explosion etc.
The methodology adopted in conducting Quantitative Risk Assessment in line with Scope of work for QRA. The main objective of conducting QRA is to: