Quantified Risk Assessments (QRA)

is an essential part of the risk management process and provides a systematic assessment of the likelihood and consequence of potential hazards. The purposes of QRA are to determine major hazards potential, assist the risk decision-making process, demonstrate that risks are acceptable and assist in emergency planning.

The application of QRA techniques gives the companies the ability to identify the most cost-effective solutions to a range of problems, including the reduction of injuries to personnel, asset protection and cost of insurance. It is also an integral part of the Safety Case for statutory requirements and a tool used by regulatory agencies for land use planning.