Definition:
Quantitative Risk Assessment (QRA) estimates the likelihood and consequences of hazardous events numerically.
Key Points:
- Supports decision-making around facility siting, mitigation measures, and risk acceptance.
- Often uses PLL, societal risk curves, and SIL evaluations.
See also: semi-quantitative risk assessment (QRA)
Example:
A QRA shows that adding a second pressure relief system reduces site fatality risk below acceptable thresholds.
Cited Source:
- CCPS Guidelines for Chemical Process Quantitative Risk Analysis.