Risk Assessment (RA) and Management

Risk Assessment (RA) and Management

Risk Assessment (RA) and Management is an approach that prevents potential hazards on health and environment.
RAis a common first step in a risk management process. It is the determination of
quantitative or qualitative value of risk related to a concrete situation and a recognized threat. Quantitative RA requires calculations of two components of risk; the magnitude of the potential loss, and the probability that the loss will occur.
Traditionally two types of analysis are used:

Major Hazard Risk Analysis (MHRA), which is dealing with major issues impacting a whole city or region (macro analysis), i.e. outside the borders of the facility or plant, and Process Risk Analysis (PRA), which is dealing with the plant itself (micro issues), i.e. inside the borders of the facility or plant.

Water and Environment Centre (WEC) at the Royal Scientific Society (RSS) has 11 years of experience in RA studies. WEC has conducted several RA studies such as: MHRA study for Petroleum Products and ChemicalsTank Farm, MHRA study for Ammonia Storage and PRA for Fertilzers and Chemicals Plants .
Journal articles, related to RA studies conducted by WEC, were published in International Scientific Journals.
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