Quantitative Risk Analysis (QRA)
QRA's provide numerical estimates to allow clients to understand risk exposure to people, business, the environment, markets or other areas of interest. QRA studies account for potential releases of hazardous material, their consequences (e.g., fire, toxic, explosion, etc.) and estimated frequency of occurrence. BakerRisk works with clients to identify their risks from specific one-off questions to full safety case projects.
For an international client base, BakerRisk has identified on and offsite population risks in terms of individual risk of fatality, probability of serious injury contours, FN curves, risks transects, risk indices and other methods to present risk results. By using base case results and comparing them to proposed changes (plant expansions, new buildings or population developments), BakerRisk has been able to save clients considerable sums of money and at the same time drive down risks.
To satisfy ongoing demand for QRA services, BakerRisk continues to invest in Research and Development of consequences (explosions, fires and gas dispersion) and feeds such research into its technology development and software tools.
Benefits of Using BakerRisk
BakerRisk QRA's combine extensive field experience with state-of-the-art models to present and prioritize realistic risks. If consequence analyses do not demonstrate a negligible or low risk, then the likelihood of such events is evaluated further to provide a more comprehensive understanding of the risks and their drivers. BakerRisk clients benefit from reduced personnel risks and millions of dollars in savings by having risks thoroughly evaluated and mitigation options studied in a systematic and professional manner.
By establishing long-term relationships with clients, BakerRisk has been able to assist clients' build on earlier studies, culminating in detailed evaluation of part or all of a facility. In addition to understanding risks at a single facility, many clients have taken a broad view of their risks and evaluated their corporation so that risks between facilities are compared relatively, using common methodologies and study approaches. By taking a broad approach to risk analysis, limited funds can be distributed on a priority basis as part of an overall risk reduction and asset improvement program.