Understanding QRA Guidelines

Understanding risk is vital for sound and cost-effective decision making and for establishing a technical risk picture for the entire asset lifecycle. Risk assessment is the overall process of identifying and analysing risks, and evaluating how it might be modified to maintain appropriate levels of safety and to satisfy regulatory and corporate criteria.

A Quantitative Risk Assessment (QRA) is a formal and systematic approach to estimating the likelihood and consequences of hazardous events, and expressing the results quantitatively as risk to people, the environment or the business. On top of that, it also assesses the robustness and validity of quantitative results, through identifying critical assumptions and risk driving elements.

Personnel are required to demonstrate acceptable risk levels during the approval of major hazard plant construction plans, or when making significant changes to operations (e.g. plant modification) or manning levels.

QRA studies are typically required for the downstream sector in the oil and gas industry, such as production and processing facilities, high pressured pipelines, storage and importation sites, etc. The studies aid companies to improve decision-making by bringing to light the accident scenarios that contribute most to overall risk. Such focus will also aid companies to meet acceptable criteria and demonstrate risks As Low As Reasonably Practicable (ALARP).

Revised QRA guidelines is a 3-day course that is developed to compare the existing prevailing PCD QRA Guidelines and the new QRA Guidelines, to help industries understand the potential impacts to their operation and new projects. For more information, please visit us at http://www.opuskinetic.com/training or contact us at info@opuskinetic.com.

Opus Kinetic believes that people are why organisations are successful, and giving people the knowledge to perform well at their job is integral for success. We pride ourselves as the premier provider of knowledge, offering acclaimed in-house training, leadership training courses, oil and gas training courses, courses that target health safety and environment, etc. Our training courses are well researched and updated with the latest industry trends. For more information on our professional training programs, you can visit us at http://www.opuskinetic.com/training.