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Drilling hazard management: The value of risk assessment

Drilling hazard management: The value of risk assessment

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granular tabular matrix for probability on one axis and severity of consequence on the other. In general, the more granu-lar the matrix, the more valuable it is in terms of defining, ranking and managing risks. Table 1 depicts a typical industry risk matrix. The risk matrix can be adjusted for levels of likelihood or probability and costs.

  Assessment, Management, Risks, Value, Matrix, Drilling, Hazards, Probability, Risk assessment, Risk matrix, The value, Drilling hazard management

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