Relevant and Accurate Data Resources

Risk evaluation methods should use data that is relevant to the facility under examination. Where other data is used an explanation should be provided to substantiate it s use, otherwise inaccurate assumptions will prevail in the analysis. Where highly accurate data is available, the findings of a quantitative risk evaluation will generally only be within an order of magnitude of 10 of the actual risk levels since some uncertainty of the data to the actual application will always exist. 

A1 quantifiable evaluation documentation should be prepared so that it would conform to the nature of a facility Safety Case format which may be required for submittal to governmental agencies at a later date. 

Cost estimates can be prepared to perform any portion or all the risk evaluation for a particular facility or installation based on the manpower necessary for each portion of the analysis and the size and complexity of the facility. 

American Petroleum Institute (API), RP 14C. Recommended Practice for Analysis. Design. Installation and Testing of Basic Surface Safety Systems for Offshore Production Platforms. Fourth Edition, API, Washington, D.C., 1986. 

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