O'Reilly logo

Green Engineering: Environmentally Conscious Design of Chemical Processes by David R. Shonnard, David T. Allen

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 2Risk Concepts

byFred Arnold & Gail Froimanwith John Blouin

Risk: the probability that a substance or situation will produce harm under specific conditions. Risk is a combination of two factors: the probability that an adverse event will occur and the consequences of the adverse event.

The Presidential/Congressional Commission on Risk Assessment & Risk Management, Vol. 1, 1997

2.1 Introduction

Risk is a concept used in the chemical industry and by practicing chemical engineers. The term risk is multifaceted and is used in many disciplines such as: finance (rate of return for a new plant or capital project, process improvement, etc.), raw materials supply (single source, back integration), plant design and process change (new design, ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required