Quantitative risk analysis advantages

Table 5.1 sutmnarizes a number of risk measures defined in the Guidelines for Chemical Process Quantitative Risk Analysis, Second Edition (CCPS, 1989) and illustrates the advantages and disadvantages when used for transportation risk analyses. Since measures such as the fatal accident rate (FAR) are geared toward estimating risk to employees at fixed facilities, this measure has not been included as it does not generally apply to transportation risk analysis. 

Quantitative multicriteria analysis defines and applies weighting factors to the environmental profile to permit aggregation of the quantitative part of the inventory table into an unambiguous single score. This score is then used to rate different product alternatives. The advantages with this method are that the decision process is easily reproducible and that product comparison is simplified. The risk is that the method of aggregation may imply a scientific accuracy that not necessarily exists. Qualitative aspects of the impacts can not be included in the obtained score. These must be evaluated separately. 

Calculation of Exposure. A great advantage of Risk Assistant is that it allows users to consider a wide range of factors that will influence quantitative exposure estimates (e.g., specific exposure factors for different populations, pathways, and scenarios) with a minimum of effort. Thus, a user can rapidly produce alternative exposure evaluations, including best estimates, reasonable worst-case exposure estimates, and worst case exposure estimates. Moreover, the system provides the user with information on the degree of uncertainty contributed by various assumptions used in the analysis, which can guide the user s future data collection efforts so that they result in maximum reduction of uncertainty. 

PSA is a method of estimating mathematically the likelihood and consequences of potential accidents at Nuclear Power Plants (NPPs). The major advantage of PSA is the possibility of in-depth qualitative and quantitative analysis of NPP actual configuration with definition of factors characterizing of contribution to the general risk of reactor core damage. 

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