Quantitative Risk Assessment Services in the UAE
Risk assessment has become an increasingly important tool in all areas of business. During our recent transition from the quality management standard ISO 9001:2008 to the new ISO 9001:2015, one of the main areas of focus was the requirement for more formal risk analysis and increased ‘risk-based thinking’. For most businesses, this is mainly a process of assessing risks (business, financial and operational) in a qualitative manner. We evaluate the level of risks, the likely impacts and the opportunities for mitigation usually in the form of a Risk Register which ranks levels of risk based on impacts and likelihood. Once high-risk elements have been identified, we can look at how these risks can be mitigated and controlled.
Whilst this is the acceptable practice for most businesses and projects, when it comes to large and complex projects with potentially risk of high impact on the project, a more specialized approach is required. This is where our Quantitative Risk Assessment services in the UAE can help businesses make cost effective decisions and manage risks for the entire asset lifecycle
The Quantitative Risk Assessment (QRA) is an effective tool to help the understanding of exposure of risk to employees, the environment, company assets and its reputation.
QRA studies are typically required for production and processing facilities, high-pressure pipelines, and storage sites.
Quantitative Risk Assessment usually involves the use of very specialized software; for reliable results, QRA should be undertaken by experienced specialists who are able to ensure that the appropriate input data is used and assumptions agreed.
Dome’s HSE Consultancy Division includes a strong Safety & Risk team with extensive experience in conducting all types of studies for the oil and gas industry, including numerous Quantitative Risk Assessments. We have undertaken a large number of Health, Safety and Environmental Impact Assessments for ADNOC Group companies for wide range of projects at various stages of the project life cycle. Dome owns licenses for the latest versions of internationally acceptable software tools, including:
- PHAST/ Safeti 8.11 (QRA / FERA / FHA / EERA / others)
- Flaresim v5.2.1 (Flare Radiation and Dispersion Studies)
- PHA PRO v8.0 Sphera (HAZID / ENVID / OHID / HAZOP Workshops)
- PHA Dyadena (HAZID / ENVID / OHID / HAZOP Workshops)
- THESIS v6.0 (Bow-Tie development)
- Bow-Tie Xp (Bow-Tie development)
- exSILentia v3.0 (SIL Assessment)
- Detect 3D (F & G Mapping)
- InFlux (CFD Dispersion Gas Detector Mapping)
- Surfer – Contours and Graphic developer
- Maros – RAM analysis software for upstream oil and gas
For more information about Quantitative Risk Assessment Services in the UAE or any other Safety & Risk studies, please contact : Mr Loveson Varghese, Technical Director, Safety & Risk email: email@example.com or Mr Mahmoud Hassan email: firstname.lastname@example.org.
Share This Blog