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September 2024

Risk Based Process Safety (RBPS)

The Center for Chemical Process Safety's process safety management system approach that uses risk-based strategies and implementation tactics that are commensurate with the risk-based need for process safety activities, availability of resources, and existing process safety culture to design,...

Risk Based Inspection

A risk assessment and management process that is focused on loss of containment of pressurized equipment in processing facilities, due to material deterioration. These risks are managed primarily through equipment inspection.

Risk Based Approach

A quantitative risk assessment methodology used for building siting evaluation that takes into consideration numerical values for both the consequences and frequencies of explosion, fire, or toxic material release.

Risk Assessment

The process by which the results of a risk analysis (i.e., risk estimates) are used to make decisions, either through relative ranking of risk reduction strategies or through comparison with risk targets.

Risk Analysis

The estimation of scenario, process, facility and/or organizational risk by identifying potential incident scenarios, then evaluating and combining the expected frequency and impact of each scenario having a consequence of concern, then summing the scenario risks if necessary to obtain the total...

Risk Acceptance Criteria

See Risk tolerance criteria.

Risk

A measure of human injury, environmental damage, or economic loss in terms of both the incident likelihood and the magnitude of the injury or loss. A simplified version of this relationship expresses risk as the product of the Frequency and the Consequence of an incident (i.e., Risk = Frequency x...

Revealed Faults

A failure may be immediately or almost immediately apparent through an alarm or indicator system. This can lead to corrective action within a relatively short period of time.

Revealed Failure

A failure that may be immediately or almost immediately apparent through an alarm or indicator system. This can lead to corrective action within a relatively short period of time.

Retrofit, Update, and Revalidate

To correct substantive deficiencies in the prior PHA, and then update and revalidate it (See Update and Revalidate).

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