Quantitative Risk Assessment
Quantitative Risk Assessment (QRA) is a formalised tool for assessing the risk exposure to employees, the environment, company assets and its reputation. Using quantified analysis and complex modelling software the QRA can estimate the hazard frequency and analyse the worst-case potential consequences (e.g. toxic effects, pool fires, jet fires, explosions etc.). These results can then be compared with the acceptance criteria and recommendations made based on Cost Benefit Analysis (CBA) and evaluation of additional risk reduction measures.
For consequence analysis ESC uses the DNV Software PHAST (Process Hazard Analysis Software Tool). PHAST examines the progress of a potential incident from the initial release to far-field dispersion of flammable and toxic materials for both gaseous and two-phase releases.
