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A risk matrix is a matrix that is used during risk assessment to define the level of risk by considering the category of likelihood (often confused with one of its possible quantitative metrics, i.e. the probability) against the category of consequence severity. This is a simple mechanism to increase visibility of risks and assist management ...
LOPA is a risk assessment undertaken on a 'one cause–one consequence' pair. The steps of a LOPA risk assessment are: [4] Identify the consequences, using a risk matrix; Define the risk tolerance criteria (RTC), based on the tolerable/intolerable regions on the risk matrix; Define the relevant accident scenario, e.g. mechanical or human failure
Risk management is defined for the purposes of the Codex Alimentarius Commission as "The process, distinct from risk assessment, of weighing policy alternatives, in consultation with all interested parties, considering risk assessment and other factors relevant for the health protection of consumers and for the promotion of fair trade practices, and, if needed, selecting appropriate prevention ...
Center for Chemical Process Safety (1992). Guidelines for Hazard Evaluation Procedures, with Worked Examples (2nd ed.). Wiley-American Institute Of Chemical Engineers. ISBN 0-8169-0491-X. Bahr, Nicholas J. (1997). System Safety Engineering and Risk Assessment: A Practical Approach (Chemical Engineering) (1st ed.). Taylor & Francis Group.
In the functional safety standards based on the IEC 61508 standard, four SILs are defined, with SIL4 being the most dependable and SIL1 the least. The applicable SIL is determined based on a number of quantitative factors in combination with qualitative factors, such as risk assessments and safety lifecycle management. Other standards, however ...
Risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. [1] [2] The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences. [1] [3]
Risk-based inspection (RBI) is an optimal maintenance business process used to examine equipment such as pressure vessels, quick-opening closure - doors, heat exchangers, and piping in industrial plants. RBI is a decision-making methodology for optimizing inspection plans.
Automotive Safety Integrity Level (ASIL) is a risk classification scheme defined by the ISO 26262 - Functional Safety for Road Vehicles standard. This is an adaptation of the Safety Integrity Level (SIL) used in IEC 61508 for the automotive industry .