Understanding the risk is important for rational and cost-effective decision-making. QRA has been proven as a valuable management tool in assessing the overall safety performance of any facility manufacturing, storing or handling hazardous materials. The potential for toxic and/or flammable materials to be accidently released into atmosphere exists at many industrial facilities. Loss of containment (LOC) events can occur very suddenly and unexpectedly, putting employees and offsite population at a risk of injury or death, and the surrounding environment at risk of significant damage or contamination.
A QRA is a formal and systematic approach to estimating the likelihood and consequences of hazardous LOC events, and expressing the results quantitatively as risk to people, the environment or your business. It is a tool for demonstration of risk levels, required for approval of a Major Accident Hazard (MAH) Facility. It is also required during major plant modifications and to changes in manning levels.