(66b) Hazard Analysis and Risk Assessment Methods: How to Choose…

Hazard Analysis and Risk Assessments are commonly used by organizations to ensure that people, the environment, and business continuity are protected. Various approaches and methodologies can be used to perform these assessments. Some approaches are very simple, require minimal information, time and subsequently have a low resource impact on an organization, but as a result may provide only broad input to decision-making. Use of more detailed approaches, such as a detailed dispersion models, development of fault trees, or performing a Quantitative Risk Assessment (QRA) often yield a less conservative and more resolute estimation of consequence and risk, and can provide precise engineering guidance such as where to use emergency isolation, or whether a proposed mitigation measure is worth the investment. The use of more detailed approaches significantly increases the resource impact on an organization including the use of complex tools / software and time investment in performing these detailed evaluations. Understanding when and how to use the right approach, at the right time, is key. This brief tutorial will provide an overview of various approaches to evaluate the consequences of identified hazards and assess the associated risk.