Quantitative / probabilistic risk assessment (QRA / PSA)

Quantitative / probabilistic risk assessment

The systematic identification and evaluation of the likely consequences and expected frequency of hazardous events is a major input to the risk management decision-making process.

Risktec is a specialist in quantifying risk, from quick, coarse studies to detailed assessments. Many of our professionals have design, operations and management backgrounds, and this experience is used to look beyond the final numbers to interpret the results, communicate the implications to senior management, and provide real and practical recommendations for improvement.

Our services include:

  • Consequence analysis to model physical effects of releases of hazardous substances
  • Frequency analysis using fault and event trees
  • Risk evaluation (PSA/QRA) to predict levels of safety and economic risk
  • Cost-benefit analysis (CBA) to derive an optimal strategy for expenditure using financial and risk criteria
  • Sensitivity and uncertainty analyses to provide a greater understanding of risk and enable better informed risk-based decisions
  • Facility siting and occupied building risk assessment

"Our approach to QRA focuses on its practical benefit for effective management of operational and business risk"

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