How is probability used in Quantitative Risk Assessment QRA Sigma HSE
10/02/2025 Other Services
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In Quantitative Risk Assessment (QRA), probability is used to estimate the likelihood of hazardous events occurring and their potential consequences. It helps quantify risks by assigning numerical values to uncertain events, allowing for a more objective assessment. Probability distributions are used to model uncertainties in failure rates, human errors, and external factors. Techniques such as fault tree analysis (FTA) and event tree analysis (ETA) help determine the probability of accidents, enabling decision-makers to implement effective risk mitigation strategies. By integrating probability with consequence analysis, QRA provides a data-driven approach to managing and reducing risks in industries like chemical processing, healthcare, and finance.
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