Q.

How can performing a risk assessment help our organization?

A.

A risk assessment can help determine how undesirable events (e.g., accidents) will impact your facility. Estimates of the frequency (how often undesirable events may occur) and consequences (what types of injuries, damage, loss, etc., may be incurred as a result of undesirable events) associated with potential accident scenarios define the risk for your facility. Our experts can help you identify and address the most significant risks revealed by a risk assessment.

Q.

When should I use these risk assessment tools? Aren't qualitative methods sufficient?

A.

A risk assessment is typically used if a qualitative analysis (e.g., a process hazard analysis) does not provide adequate information to make necessary risk-based decisions. A risk assessment can fill this information gap by providing cost-effective solutions for critical issues.

Example: A qualitative analysis of your facility generates several costly recommendations involving additional, complex safeguards for a process. Which recommendation should be dealt with first? If there are several different ways to address the need for a safeguard, what is the cost-benefit ratio (the best protection at the least overall cost) for each one? We can tailor a risk assessment to effectively answer questions like these.

Q.

What techniques should I use to perform risk assessments?

A.

Depending on the "risk-based" question you need to answer, several logic-model tools (e.g. fault trees, event trees, availability block diagrams, human reliability diagrams) can be used. For example, a simple event tree model shows (1) an "initiating event" for a potential accident (i.e. it shows how the accident scenario might start, for instance, with a pipe break) and (2) the "safeguards" that are designed to prevent or mitigate the accident (e.g. a relief valve or a backup cooling system). Event trees are fairly easy to quantify and effectively show how accidents can develop. Call us to discuss the appropriate method for your situation.

Q.

How do you "do" a risk assessment project? What is the process?

A.

1. A project generally begins when a customer contacts us requesting more detailed risk information. For example, a company needs to judge the acceptability of competing safeguards (e.g. automatic vs. manual isolation capability).

2. We meet with the customer (either in person or via teleconference) to determine their risk assessment goals.

3. Using the information gathered from the meeting, we develop-free of charge-a comprehensive proposal that defines the cost, schedule, and scope of the project.

4. We work with the customer to ensure the risk assessment meets their needs.