What is risk assessment

Definition

Risk assessment in process safety is a systematic process used to identify, evaluate, and manage the potential risks that could lead to hazardous events in industrial processes. It involves analyzing the likelihood of occurrence and the potential impact of different types of hazards, such as chemical spills, explosions, fires, and releases of toxic substances.

Goal of risk assessment

The goal is to ensure safe operation, protect workers and the public, minimize environmental impact, and comply with regulations by implementing appropriate safety controls and response procedures.

Methods and tools

Different methods of risk assessment vary in complexity and detail, but they generally fall into a few broad categories as follows.

Qualitative

Uses descriptive terms to identify hazards and estimate the likelihood of occurrence and impact. Examples include:

Quantitative

Employs numerical values and probabilities to estimate frequency and consequence. Examples include:

Semi-Quantitative

Combines elements of both qualitative and quantitative methods, often using scales to rank risks. Examples include:

Software tools

Software tools like RISKCURVES, an advanced risk assessment tool developed by Gexcon, aid in conducting a detailed and comprehensive risk analysis, particularly in industrial settings. RISKCURVES enables users to model and compare various risk scenarios, offering clear visual representations to aid in understanding and mitigating potential hazards.

Steps in the risk assessment

Risk criteria

There are multiple risk criteria that help determine whether the risk is acceptable. In subsequent articles, the risk criteria used in RISKSCURES will be introduced, such as:

By following these steps, organizations can systematically identify, analyse, evaluate, control, and monitor risks, ensuring a comprehensive approach to safety and risk management.