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Quantitative Risk Assessment/HAZOP StudyByOISDContents Definitions DifferenceQRA/HAZOP QRAMethodology HAZOPMethodology QRAGoals HAZOPGoals RiskCriteria AsLowAsReasonablyPracticable(ALARP) ResidualRisk RiskMitigationMeasuresCoverage in this Presentation Fundamentals of QRA as differentiated from stand-alone Risk Analysis and HAZOP / HAZAN studies. Assessment of residual risk after factoring in qualityof existing fire fighting system. ALARP principle of Risk Acceptance criteria. Effect of additional mitigation measures in existinglocations to reach the acceptable ALARP zoneDefinitions 4 Frequency Numberofoccurrencesperunittime.

Definitions •4 Frequency – Number of occurrences per unit time. Hazard – chemical or physical condition which has a potential to cause …

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