QRA (Quantitave Risk Analysis)

A Quantitative Risk Analysis (QRA) is a technique that allows for systematic risk calculations associated with hazard manifestations. This assessment considers the magnitude of possible consequences and the frequency at which they occur in order to tailor a risk analysis for the client. Various approaches determine individual (IR) or social (SR) risk, which are then defined as being tolerable or not by means of ALARP (“as low as reasonably practicable”) or other criteria accepted by the accept owner.

This study – as carried out by Pryxida TECH – provide information critical to understanding and safeguarding against risk exposure among employees, the environment, and the client’s assets and reputation. This information also serves as a decision-making tool for the client to manage risk levels throughout the project development, in determining equipment location in new facilities, modifying existing areas, or for implementing emergency alert systems in the event of a fire, explosion, or release of toxic substances.