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Reliability, Maintainability and Risk, 9th Edition by David J. Smith

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Chapter 10

Risk Assessment (QRA)

Abstract

This chapter shows how to set risk and failure rate targets and to assess if the predicted reliability is as low as reasonably practicable. Both individual and societal risk concepts, and their associated calculations, are dealt with. The HAZID and HAZOP techniques are outlined. Aspects of risk quantification also embrace thunderstorm and seismic frequencies and the likelihood of aircraft impact.

Keywords

ALARP
cost per life saved
maximum tolerable
societal
HAZOP
lightning
thunder
aircraft impact
seismic
earthquake

10.1. Frequency and Consequence

Having identified a hazard, the term ‘risk analysis’ is often used to embrace two types of assessment:
The frequency (or probability) of the event.
The consequences ...

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