Course Overview
This course provides an in-depth understanding of Quantitative Risk Assessment (QRA) methods used to evaluate risks in high-hazard industries such as oil & gas, chemical, energy, and manufacturing. Participants will learn how to systematically identify hazards, model potential accident scenarios, estimate probabilities and consequences, and interpret risk results for decision-making and regulatory compliance.
Course Objectives
By the end of this course, participants will be able to:
- Understand the principles and framework of QRA
- Identify hazards and develop risk scenarios for analysis
- Apply quantitative methods to estimate frequencies and consequences of events
- Use risk matrices and risk tolerability criteria to evaluate results
- Interpret QRA outputs to inform safety decisions and regulatory reporting
- Integrate QRA into broader safety, environmental, and asset integrity programs
Who Should Attend
This course is ideal for:
- Risk, safety, and process engineers
- HSE professionals and auditors
- Project and operations managers
- Emergency planners and regulatory compliance staff
- Consultants and technical specialists in high-risk sectors
Course Outline
Introduction to Quantitative Risk Assessment (QRA)
- Purpose and scope of QRA
- Benefits and limitations of quantitative risk analysis
- Regulatory and industry requirements (e.g., SEVESO, OSHA PSM)
Hazard Identification and Scenario Development
- Techniques: HAZID, HAZOP, FMEA
- Defining event trees and fault trees
- Escalation modeling and boundary conditions
Frequency Analysis and Data Sources
- Use of historical failure data
- Human reliability analysis
- Probability estimation methods and software tools
Consequence Analysis
- Modeling fires, explosions, and toxic releases
- Dispersion modeling basics
- Impact assessment: fatalities, environmental damage, business disruption
Risk Estimation and Evaluation
- Individual and societal risk measures
- Risk contours and FN curves
- Risk criteria: ALARP principle, tolerability thresholds
Risk Mitigation and Decision Making
- Evaluating effectiveness of risk reduction options
- Cost-benefit and risk reduction analysis
- Linking QRA with safety integrity levels (SIL) and safety cases
Presentation of QRA Results
- Risk communication techniques
- Reporting to regulators and stakeholders
- Visual tools and summaries (heat maps, risk matrices)
Case Studies and Hands-On Exercises
- Real-world QRA examples and lessons learned
- Group work on developing and interpreting QRA models
- Optional demo of QRA software (e.g., DNV Phast, SAFETI, or equivalent)