Quantitative Risk Assessment (QRA) is a structured technique to identifying and quantify the risks associated with hazardous process establishments which could potentially endanger operators, the public, the environment and the asset, and it represents an essential element for the development of a risk assessment study as required by European and international standards.

QRA shall be in compliance with the most advanced standards such as EU Directives guideline (Seveso II/III), International Finance Corporation (IFC) / European Bank for Reconstruction and Development (EBRD) and internationally recognized guidelines, such as CCPS, International Association of Oil & Gas Producers (OGP), IP UKOOA.

QRA Report shall include:

  • Hazard identification (HAZOP and Preliminary Risk Assessment, Historical accident analysis) for Major Accident Event identification;
  • Detailed risk analysis (PHAST Fire, Explosion, Toxic modeling for consequence severity assessment, Fault and Event tree for frequency assessment, Domino Effects);
  • Risk reduction measures (preventive and mitigation barriers) identification and evaluation, specific for each Major Accident Event