Risk Quantification – A Scenario Based Approach Utilized in Natural Gas,LPG and Petrochemical Industries

Risk Quantification – A Scenario Based Approach Utilized in Natural Gas,LPG and Petrochemical Industries

Syed Quarishy, Technical Safety and Risk Management Consultant   Risk is often defined as a function of the likelihood that a specified undesired event will occur and the severity of the consequences of the event. Risk is derived from the product of likelihood and potential consequence. Risk in general is a measure of potential economic loss or human injury in terms of the probability of the loss or injury occurring and magnitude of the loss or injury if it occurs. Risk thus comprises of two variables: magnitude of consequences and the probability of occurrence. Quantitative Risk Assessment (QRA) is a dominant analysis tool used for risk management and safety improvement. It provides a rational basis for evaluating process safety with respect to its theoretical and practical limitations. QRA should be used when the available input data are sufficient enough to ensure that valid and robust results will be obtained. To provide results consistent with good industry practice Risk Management Guidelines are often used to...
Read More
13 ways to Save money from boiler system

13 ways to Save money from boiler system

    Are you a factory owner? Looking for a way to lower your operating cost? Among all of the options you may consider, reduction of energy uses without decreasing productivity is the most efficient way.  Energy audit has become a growing interest in recent years due to its direct impact in production cost. Energy audit is the first step to assess how much energy an organization consumes and what measures the management can take to make the organization more energy efficient. It will save significant amounts of money over time. Almost all of the industrial facilities use boilers for heating water or producing steam. In facilities that use boilers, a large percentage of the energy/fuel consumption is accounted for by the boiler plant. As such, significant energy can be saved by optimizing boiler systems. This article describes some energy saving strategies of boilers system. Measures to improve your boiler efficiency will not only lower your production cost but also reduce greenhouse gas...
Read More
Benchmark blog: A networking hub

Benchmark blog: A networking hub

Benchmark Blog is the networking hub of students, teachers, scientists, researchers, industrialists and businessmen from all over the world. Here, the bloggers will not only produce contents, but also build social relations with readers and other bloggers. Benchmark blog is open for all to write. But, for new blogger the post won’t be published instantly. The blog moderator panel will review, make necessary corrections and publish on behalf of blogger. When several posts from the same blogger pass the moderator panel without any major correction, that blogger will be allowed to publish the post instantly. While review any post, the moderator panel will keep in mind the following: Benchmark solutions will maintain the non-sectarianism. Nobody will be allowed to criticize people from different race, nation, religion and gender by their post or comment. If Benchmark notices such contents in any post, it will abstain from publishing that post. Everybody is requested to show respect to others and not to be aggressive...
Read More