Chapter 12. Risk Assessment

Risk assessment includes incident identification and consequence analysis. Incident identification describes how an accident occurs. It frequently includes an analysis of the probabilities. Consequence analysis describes the expected damage. This includes loss of life, damage to the environment or capital equipment, and days outage.

The hazards identification procedures presented in Chapter 11 include some aspects of risk assessment. The Dow F&EI includes a calculation of the maximum probable property damage (MPPD) and the maximum probable days outage (MPDO). This is a form of consequences analysis. However, these numbers are obtained by some rather simple calculations involving published correlations. Hazard and operability ...

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