Common practices of risk analysis

Common practice for predicting incidences are by applying various methods of root-cause analysis, such as FTA, ETA, FMEA, and HAZOP. A comparison of these methods is available in an article by Silvianita et al. (2011). Theoretically, such methods can reveal many kinds of failure modes.

Limitations of the common practices

These methods are quite helpful in failure analysis during investigation, but not for avoiding risks. The main problems with these methods is that it they require huge investment, which makes them impractical. Another problem is that incidences are often associated with unpredictable situations, typically due to slips, unexpected events, inter-unit coordination problem and human-machine mismatch.

There are several explanations why the effect of these methods is limited:

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Updated on 26 Mar 2017.