Quantitative Risk Assessment

Quantitative Risk Assessment

Quantitative Risk Assessment (QRA) provides a quantifiable approach to risk analysis, helping organizations identify and prioritize risk reduction measures with confidence.

Quantitative risk assessment (QRA) is a valuable tool for assessing and managing risks. The technique provides a structured and quantifiable approach to risk analysis, enabling organizations to make accurately informed decisions and prudently manage process risks. QRA can be used to inform every aspect of process risk management, including: site selection and layout, process and safety system design, emergency planning, spacing requirements for installations, process deviation control, fire protection design, gas detection layout, and emergency isolation measures, among others.  

AcuTech leverages decades of experience in process safety and risk management, working with organizations to develop or enhance safety management systems.  AcuTech’s team has performed hundreds of quantitative risk assessments for operations globally, whether onshore or offshore. Our work spans the oil, gas, petrochemical, specialty chemical, and transportation sectors, as well as analyses in specialty industries that require novel, tailored approaches. 

AcuTech’s quantitative risk team are experts in the field, using the latest industry risk models (DNV Phast and Safeti, Gexcon EFFECTS and RISKCURVES, FLACS), proprietary QRA modeling tools, the latest historical accident data, and practical methods to ensure QRA studies accurately assess complex operations to produce clear and actionable results. Through analyses and training, companies gain the knowledge to comprehend quantitative techniques, assess risks to onsite and offsite personnel, evaluate property damage potential, manage reputational concerns, and prudently select risk mitigation measures. In doing so, all stakeholders reap the advantages of AcuTech’s extensive expertise in process safety regulations, cross-industry best practices, and cutting-edge quantitative risk assessment methods and tools. 

  • Hazard identification studies (HAZID) 
  • Development of accidental release scenarios
  • Consequence modeling (PHAST, CFD) for fire, explosion, and toxic vapor dispersion
  • Development of recommendations for risk reduction 
  • Quantitative frequency analysis
    • Event Tree
    • Fault Tree Analysis (FTA)
    • Failure Modes & Effects Analysis (FMEA)
    • Layer of Protection Analysis (LOPA) 
  • Accident/Incident Data Review
  • Risk Integration 
  • Cost-Benefit Analysis 
  • Reliability, availability, and maintainability analysis of critical components and systems (RAM analysis) 
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