PSM 110: Risk Analysis and Decision Making

COURSE DESCRIPTION                                                                                    DURATION: 1 Day

This course is designed to provide an overview of risk analysis techniques from qualitative to quantitative and their appropriate utility. This course also explains how risk tolerance and acceptance criteria are developed and used to make risk based decisions from incident frequencies and consequence analysis.

COURSE BENEFITS

  • Learn how to differentiate between hazard and risk.
  • Learn different types of risk analysis methods
  • Learn the meaning of ALARP
WHO SHOULD ATTEND

  • PSM Managers and Coordinators
  • Process Safety Engineers
PREREQUISITES

  • None

COURSE CONTENT AND AGENDA

  • Overview of Concepts of Hazard and Risk
    • Definitions of hazard and risk
    • Frequency and its relationship to risk
    • Risk Analysis
    • Risk Perception
    • Risk Communication
  • Qualitative and Quantitative methods of Risk Assessmen
    • Risk Matrix
    • Index based methods
    • LOPA
    • QRA
      • Consequence Analysis
      • Frequency assessment
  • Risk Measure
    • Indices
    • Individual Risk and Societal Risk
    • Aggregate Risk
  • Risk Presentation and Calculation
    • Frequency Determination
    • Point Estimates and Uncertainty
    • Risk Contours
    • F-N Curves
  • Risk in Decision Making
    • Risk tolerance criteria
    • Risk Acceptance criteria
    • ALARP
  • Risk Reduction Alternatives