Welcome to the InfoSci Platform
General Approach to Risk Analysis

General Approach to Risk Analysis

Davorin Matanovic
Copyright: © 2014 |Pages: 22
ISBN13: 9781466647770|ISBN10: 1466647779|EISBN13: 9781466647787
DOI: 10.4018/978-1-4666-4777-0.ch001
Cite Chapter Cite Chapter

MLA

Matanovic, Davorin. "General Approach to Risk Analysis." Risk Analysis for Prevention of Hazardous Situations in Petroleum and Natural Gas Engineering, edited by Davorin Matanovic, et al., IGI Global, 2014, pp. 1-22. https://doi.org/10.4018/978-1-4666-4777-0.ch001

APA

Matanovic, D. (2014). General Approach to Risk Analysis. In D. Matanovic, N. Gaurina-Medjimurec, & K. Simon (Eds.), Risk Analysis for Prevention of Hazardous Situations in Petroleum and Natural Gas Engineering (pp. 1-22). IGI Global. https://doi.org/10.4018/978-1-4666-4777-0.ch001

Chicago

Matanovic, Davorin. "General Approach to Risk Analysis." In Risk Analysis for Prevention of Hazardous Situations in Petroleum and Natural Gas Engineering, edited by Davorin Matanovic, Nediljka Gaurina-Medjimurec, and Katarina Simon, 1-22. Hershey, PA: IGI Global, 2014. https://doi.org/10.4018/978-1-4666-4777-0.ch001

Export Reference

Mendeley
Favorite

Abstract

Broadly accepted methodology that is implemented in the oil industry when dealing with risks includes as the first step the identification of possible hazards. That is done by gathering information about degree of risk according to working procedures, processes, and individuals involved in the operation of the process. That is the first step in risk management, an iterative process that must lead to the use of proper measurements in the way of protecting people, facilities and environment. The analysis is done based on the combination of probability and severity of undesirable events, and the final consequences. Explanation of basic terms, their interdependence, dilemmas, and methods of risk analysis are introduced. Each method is shortly described with main anteriority and shortcomings. Differences between quantitative methods, qualitative methods, and hybrid methods (the combination of qualitative-quantitative or semi-quantitative methods) are elaborated. The impact, occurrence, and the consequences are at the end compared to risk acceptance criteria concept. The ALARP (As Low as Reasonably Practicable) framework is explained with some observation on the quality and acceptance in petroleum industry. Finally, the human impact on the risk and consequences is analyzed.

Request Access

You do not own this content. Please login to recommend this title to your institution's librarian or purchase it from the IGI Global bookstore.