To identify, quantify and assess the risk to nearby facilities / installations.
ECO Safetech can Manage Quantitative Risk Assessments (QRA)
QRA
Quantitative Risk Management in project management involves precisely translating risk impact into numerical terms to determine cost and time contingencies. The foundational formula ALE = SLE × ARO guides this critical process. Employing sophisticated sensitivity analysis tools, including scenarios, and mathematical, statistical, and graphical analyses, enhances safety protocols in the Chemical Process Industry. These methodologies offer invaluable insights into the incident potential and facilitate meticulously evaluating control strategies.
Quantitave Risk Analysis Tools
Quantitative Risk Analysis Process:
- Identify areas of uncertainty.
- Conduct a thorough assessment of the financial implications associated with each identified risk.
- Evaluate the probability of occurrence for each identified risk.
- Perform precise calculations to determine the expected financial impact of potential risks.
