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Developing a Framework for Dynamic Risk Assessment Using Bayesian Networks and Reliability Data
(Mary Kay O'Connor Process Safety Center, 2016)
Process Safety in the oil and gas industry is managed through a robust Process Safety Management (PSM) system that involves the assessment of the risks associated with a facility in all steps of its life cycle. Risk levels ...
Probabilistic Methods of Quantitative Risk Analysis: A Case Study with Bayesian Networks and Petri Nets Approach
(Mary Kay O'Connor Process Safety Center, 2016)
Conventional risk assessment methods such as Bow Ties have been incapable of capturing the dynamic nature of a system and hence have failed to properly predict the time dependent failure of barriers. Modifications made to ...