Section III - Terms Flashcards
absolute risk
an ideal and accurate description and quantification of risk
acceptable risk
level of risk that is acceptable to the owner-user
ALARP - as low as reasonably practical
reduce to a certain minimum under current technology and with reasonable cost
consequence
outcome of an event
damage mode
physical manifestation of damage (thinning, pitting)
damage tolerance
amount of deterioration that a component can withstand without failing
design premise
assumption made during the design
event tree
analytical tool that organizes and characterizes potential occurrences in a logical and graphical manner
external event
forces of natures, acts of god, beyond the direct or indirect control of persons employed
failure mode
manner of failure –> example , small hole, crack, rupture
failure
termination of the ability of a system, structure, or equipment
FFS
methodology whereby damage or flaws/imperfections contained within a component or equipment item are assessed in order to determine acceptability for continued service
HAZOP (hazard and operability study)
study is a form of failure modes and effects analysis (FMEA)
ISO-rsik
line of constant risk and method of graphically showing PPOF and CF values in a 2 dimensional plot where risk increases toward the upper right hand corner.
logic model
tool use to depict the effectiveness in depicting a combination of events that could result in a loss of containment event
management systtem
framework of work processes and procedures
physical model
tool use to depict the progression of events and the release of a hazardous material to the environment
qualified person
competent person who has knowledge, skill and expectations of the owner-user
qualitative risk analysis
risk analysis using primarily subject matter expertise and experience to assign broad categorization for POF and COF
quantitative risk analysis
risk analysis using primarily model-based approaches where numerical values are calculated and more discreet input data used
reassessment
process of integrating inspection data or other changes into the risk analysis
relative risk
comparative risk to other facilities
residual risk
risk remaining after risk mitigation
risk
combination of probability of an event and its consequences.
risk acceptance
a decision to accept a risk. risk acceptance depends on risk criteria
risk analysis
systematic use of information to identify sources and to estimate the risk.
risk evaluation
risk mitigation
risk acceptance
credible DM and FM are part of risk analysis
risk assessment
overall process of risk analysis and risk evaluation
risk avoidance
Decision to not become involved in or action to withdraw from a risk situation
RBI
A risk assessment and management process that is focused on loss of containment of pressurized equipment in processing facilities, due to material deterioration.
These risks are managed primarily through equipment inspection
risk comunication
Exchange or sharing of information about risk between the decision maker and other stakeholders.
risk criteria
Terms of reference by which the significance of risk is assessed.
Risk criteria may include associated cost and
benefits, legal and statutory requirements
risk driver
An item affecting either the probability, consequence, or both such that it constitutes a significant portion of the risk.
risk estimation
Process used to assign values to the probability and consequence of a risk.
Risk estimation may consider cost,
benefits, stakeholder concerns, and other variables, as appropriate for risk evaluation.
risk evaluation
Process used to compare the estimated risk against given risk criteria to determine the significance of the risk.
Risk
evaluation may be used to assist in the acceptance or mitigation decision
risk identification
Process to find, list, and characterize elements of risk.
Elements may include source, event, consequence, and probability. Risk identification may also identify stakeholder concerns
risk management
Coordinated activities to direct and control an organization with regard to risk.
Risk management typically includes
risk assessment, risk mitigation, risk acceptance, and risk communication.
risk mitigation
Process of selection and implementation of measures to modify risk.
risk reduction
Actions taken to lessen the probability, negative consequences, or both associated with a particular risk.
service life
The expected lifetime or the acceptable period during which a pressure-containing asset and/or component can
safely and reliably perform within its intended operating envelope.
source
Thing or activity with a potential for consequence.
Source in a safety context is a hazard.
unmitigated risk
The risk prior to mitigation activities.
