Ameen Ehs Hub

Quantitative Risk Assessment (QRA) is a statistical method that uses numbers to calculate the risk of an activity, event, or process. It's a systematic way to evaluate potential hazards and make informed decisions to reduce risk. 

How it works

QRA uses numerical values and complex data to determine the probability of an event 

It also assesses the potential impact of the event on an organization 

QRA can be used to assess risks associated with industrial sites, engineering processes, and hazardous installations 

Why it's important

QRA helps organizations understand the risk to employees, the environment, company assets, and reputation 

It helps organizations make informed decisions to minimize risks and enhance safety 

Steps in a QRA 

Identify areas of uncertainty

Assess the costs of each risk

Determine the probability of each risk occurring

Calculate the expected cost of each potential risk