Risk Assessment (Probabilistic and Deterministic)
Our approach to risk assessment and to low-risk-design is to start from best practice engineering that includes defence-in-depth and safety by design. Only when these have been demonstrated do we turn to probabilistic analysis to help quantify the residual risk.
For our first reviews we use traditional techniques such as HAZOP, Single and Multi Discipline Design Review (MDDR) and Peer Review, with Suitably Qualified, Experienced and Competent Personnel (SQEP).
For our detailed probabilistic assessments we use traditional fault trees and stochastic methods like monte-carlo simulations. We have also used fuzzy logic modelling.