A template for quantitative risk assessment of facilities storing hazardous chemicals

Arafat Basheer, S. M. Tauseef, Tasneem Abbasi () and S. A. Abbasi
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Arafat Basheer: Pondicherry University
S. M. Tauseef: University of Petroleum and Energy Studies
Tasneem Abbasi: Pondicherry University
S. A. Abbasi: Pondicherry University

International Journal of System Assurance Engineering and Management, 2019, vol. 10, issue 5, No 22, 1158-1172

Abstract: Abstract A large number of highly flammable and/or toxic substances are stored in huge quantities in chemical process industries throughout the world. In the past, when such hazardous facilities have met with a major accident, the resulting explosions/fires or toxic releases have led to massive losses of lives and of property worth billions of rupees. This has, in turn, given rise to risk perception vis a vis the probability of the likely accidents and extents of their impacts that may occur in similar installations. If this risk can be quantified and ways found to reduce the risk, it can help in reducing the occurrence such an accidents as also tell us the measures needed to cushion the impact when a major accident does take place. This paper identifies the risks associated with facilities storing hazardous substances and provides a template for conducting quantitative risk assessment of such facilities.

Keywords: Flammable substances; Toxic substances; Explosions; Fires; Risk assessment (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s13198-019-00846-1

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