QRA

is a means of estimating and evaluating numerical risks from a particular hazardous activity such as an offshore platform. It involves identifying the hazards which are present, making numerical estimates of their frequencies and consequences, and combining them into overall measures of individual or societal risks. These steps are known as "risk analysis". Once risk criteria are used to evaluate the results, the process is known as "risk assessment".[10]

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Sources
10. ARF Document The exact reference is not provided.

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