It is very easy to understand that why we need to perform a process hazard analysis, but what we fail to understand is process hazard analysis has multiple sub analysis in it. Now when we say sub analysis, we are referring to all the analysis which we don’t talk about and consider it to be a part of this hazard analysis package. In this article we will be talking about Quantitative Risk Analysis one of the major components of process safety assessment, which people neglect every time.
What is Quantitative Risk Assessment & Analysis?
So there unlike other components of process hazard analysis, quantitative risk assessment itself is a very wide topic, but we have researched enough (Phew!) to give you a summarized description, so here we go, Quantitative risk analysis (QRA) includes the calculation of the two components of risk: the magnitude of the potential loss and the probability that the loss will occur. Engineering QRA covers a risk assessment of hazardous socio‐technological processes, where the losses can be described in terms of human, environmental, or economic losses.
Phew! Wasn’t that too technical???
Don’t worry we got a simple definition as well. Let’s check it out!
Quantitative risk analysis is calculation of two components of risk
- The possibility of loss that can occur
- The magnitude of loss that might happen.
If you can understand these two points you can understand the entire concept of QRA.
Why do we need QRA in our preliminary hazard analysis?
Now this is our favorite question!!! Whenever we talk about hazard risk management we could never skip this topic.
There are so many benefits of QRA, we will run out its benefit, but let us state the best out of them!
- Analysis of potential accident scenarios, including consequences and initiating and controlling factors
- Estimated fatalities (individual, group and societal risk)
- Predicted economic losses
- Predicted environmental impacts
- Risk to specific main safety functions
- Input to operational restrictions and design requirements
- Identification and assessment of preventative and mitigation measures
- Identification of the need for and function/requirements of safety barriers
- Effects of uncertainties and assumptions.
Trust us! These are just few; the list may go on forever.
Where do companies use QRA and why this industrial safety method is so important?
Many companies are using QRA in every department. QRA has become so famous and such a vital part of industry, that even though it doesn’t get the lime light it deserves, no company can function without it.
In Oil and Gas industry QRA is the backbone of Process Hazard Analysis. From understanding the concept of what can be the potential loss to actually calculating the loss, from planning to prevent any process safety hazard to actually saving millions for the company, QRA plays a very important role.
If we go by the recent trend, we can observe that companies are training their employees just to perform QRA for the company.
If you are looking for such training we would recommend you to click here now
Trust us! No one can train a company better than them.
Key Benefits of using QRA in Oil and Gas industry.
There are tons of benefits let us state few of them
- Dyke fires/ tank or fire due to free spread of flammable fluid leading to like fatality / high degree of burn injury, & such other scenarios
- Over pressure explosion/ BLEVE/ fire ball leading to fatality / high degree of burn injury, and equipment damage/ structural damage/ building damage
- Fatality / intoxication etc, due to release of toxic material like poisonous gases, toxic pesticides & chemicals like Chlorine, SO2, H2S, asphyxiation due to release of N2, CO2.
- Deliverables of the study
- Estimated hazard spread out distances & respective hazard intensity
- Estimated % fatality effect to life at different distances from the fluid leak point on fire / explosion or toxic fluid release
- Estimated damages of plant and machinery due to heat release on fire or explosion over pressure for specific incidences of fire, explosion or toxicity on accidental events
- Mapping the damages on the equipment layouts
- Individual risk quantification as $/incidence
- Identification of Hazard mitigation measures & recommendations wherever the risk is unacceptable
So in the end we would highly recommend training your employees for QRA and do not for get to visit the link we have mentioned above