Risk Management with Process Hazards Analysis (PHA)

Facilities risk management is a process of identifying risk through risk assessment, risk ranking, and applying safeguards to mitigate risk.  A certain amount of risk reduction “credit” is taken for each safeguard applied.  Follow-up “safeguard validation” is needed to ensure assumed risk credit is actually realized.  Recording risk scenarios as structured relational data greatly simplifies safeguard validation and enables automated reporting processes (exception checking) to be used.