2008
DOI: 10.1002/prs.10279
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The development of risk criteria for high severity low frequency events

Abstract: Quantitative risk assessments (QRAs) are used within the field of process safety to decide the allocation of resources and risk reduction investments. Typically risk assessments involve the evaluation of probabilistic measures that estimate the average expected value for the situation being considered across a range of potential outcomes. The resulting expected value is then used to determine if a situation represents an acceptable or unacceptable risk based on a threshold value allotted to the risk. This appr… Show more

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Cited by 5 publications
(4 citation statements)
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“…In addition to the principles and approaches previously indicated, many influential factors impact risk acceptability. These factors, or criteria used to establish if a risk is acceptable or tolerable, are numerous, and many works have focused on this question, namely Vanem (2012), Lind (2002a, Ditlevsen (2003), Henselwood &Phillips (2009), andHuang et al (2013). These factors can differ depending on the countries, the social and organizational cultures, or the industries.…”
Section: Influential Factors Of Risk Acceptabilitymentioning
confidence: 99%
See 1 more Smart Citation
“…In addition to the principles and approaches previously indicated, many influential factors impact risk acceptability. These factors, or criteria used to establish if a risk is acceptable or tolerable, are numerous, and many works have focused on this question, namely Vanem (2012), Lind (2002a, Ditlevsen (2003), Henselwood &Phillips (2009), andHuang et al (2013). These factors can differ depending on the countries, the social and organizational cultures, or the industries.…”
Section: Influential Factors Of Risk Acceptabilitymentioning
confidence: 99%
“…In public opinion, the potential severity of a risk is a strong criterion in risk acceptability. On the basis of the variable reversibility of the consequences, the risk would be easier to accept when the damages are reversible (Henselwood & Phillips, 2009). Moreover, according to the variable importance of the potential damages of an event, a risk can be seen as intolerable when a unique event can lead to important damages, with no regard to the probability of occurrence of this event.…”
Section: Potential Severitymentioning
confidence: 99%
“…However, there is no guarantee that the chosen criteria are sufficiently stringent to account for the uncertainties. A proposal has been made to address uncertainties within the specification of risk tolerance criteria .…”
Section: The Alarp Principle and Uncertaintiesmentioning
confidence: 99%
“…Indeed, there is an extensive literature on addressing uncertainties in risk analysis . There has also been a proposal to address the issue within the specification of risk tolerance criteria . Uncertainties should be addressed in using any SIL determination method.…”
Section: Issues In Sil Determinationmentioning
confidence: 99%