Risk Management & Hazard Analysis

With experience in analyzing thousands of failures, Exponent provides unique and advanced services in performing risk and reliability assessments. The primary focus of our scientists and engineers is assisting our client with their efforts to minimize bottom-line losses in their business or operation. Accidents, unanticipated events, and system failures are the primary causes of deferred or lost production interruptions and may lead to loss of life, injury, property damage, and undesired releases. Exponent’s multi-disciplinary staff has performed diverse technical, business interruption, and compliance related risk and reliability assessments for chemical, petrochemical, petroleum and manufacturing clients worldwide.

Our staff uses traditional and innovative situation–specific methods and tools to identify risk scenarios and their causes, consequences and likelihood. This enables further quantification and prioritization of technical and business risks. Exponent lets client need dictate methodology. The methods include Preliminary Hazard or Risk Analysis (PHA/PRA), Failure Modes and Effects Analysis (FMEA) Hazards and Operability Study (HAZOPs), Fault Tree Analysis (FTA), Human Error Analysis and others. Exponent supplements these methods with risk quantification using probabilistic and uncertainty principles, and decision analysis to assist clients identify, quantify, and mitigate risks to their operations, their employees and the community. 

Identify Risks

  • Preliminary Hazards Analysis (PHA) 
  • Layer of Protection Analysis (LOPA) 
  • Failure Modes and Effects Analysis (FMEA) 
  • Mechanical integrity assessments 
  • Hazard & Operability Studies (HAZOP)

Quantify Risks 

  • Fault Tree Analysis (FTA) 
  • Quantitative Risk Assessment (QRA) 
  • Risk rank and RPN prioritization 
  • Failure rate data analysis 
  • Consequence analysis 
  • Gas dispersion, thermal radiation, and explosion modeling 

Mitigate Risks 

  • Safety Instrumented Systems (SIS) 
  • Relief, flare, and header analysis 
  • Reliability Centered Maintenance (RCM) 
  • Reliability, Availability & Maintainability studies (RAM) 
  • Reduce risks to As-Low-As-Reasonably-Practical (ALARP) levels

Our staff performs risk analysis ranging from compliance to total business-based approaches and addresses a number of issues critical to the operation a facility. These issues include: 

Economic Risks and Benefits 

Engineering-economic studies of operational risks and costs are performed. Costs for alternative safety mitigation/quality control measures and the risk reduction or quality improvement potential for each alternative are evaluated to identify optimal measures. 

At various levels (component, subsystem, system, plant), risk management analysis can usefully assist in design, operation, feasibility studies, scheduling, budgeting and revenue allocation. Properly integrated analysis may be modularized at any desired level, resulting in useful information to aid decision making. 

Operational Reliability 

Factors affecting production operations are analyzed to evaluate the risk of breakdown and production stoppage. Such factors include reliability, performance, and adequacy of structures, equipment, control systems, and operating and maintenance procedures. Detailed analysis of critical structural systems and process equipment are performed as necessary. 

Safety Hazards 

Plant personnel safety as well as public safety issues are analyzed to identify potentially significant health and safety risks. These include risks of environmental release of hazardous chemicals, fire and toxicity hazards, and emergency response plans. 

Product Quality 

Factors affecting product quality are analyzed to reduce the potential of product batches being manufactured out of specification. These include process control ranges, statistical sampling, and quality assurance testing programs. 



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