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Tolerable risk guidelines.

E M Marszal1

  • 1Principal Engineer, Columbus, OH 43235, USA. emarszal@exida.com

ISA Transactions
|October 2, 2001
PubMed
Summary

Determining tolerable risk for safety instrumented systems (SIS) is challenging. This study examines how industry and government establish risk tolerance benchmarks, comparing qualitative, quantitative, and financial methods for decision-making.

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Area of Science:

  • Process Safety Engineering
  • Risk Management
  • Industrial Safety Standards

Background:

  • Safety Instrumented Systems (SIS) are crucial for mitigating process risks to acceptable levels.
  • Establishing 'tolerable risk' is a significant challenge for organizations adhering to SIS standards.
  • Current risk tolerance criteria are derived from diverse sources, including industry benchmarks, regulations, partner practices, and ethical considerations.

Purpose of the Study:

  • To explore how industry and government define and decide upon tolerable risk levels for SIS.
  • To review qualitative and quantitative methods used in risk assessment and decision-making.
  • To compare sociopolitical tolerability guidelines with cost-benefit analyses for risk reduction.

Main Methods:

  • Review of qualitative criteria for assessing tolerable risk.
  • Examination of financial considerations in risk decision-making processes.
  • Analysis of quantitative risk representation methods.
  • Comparison of government and industry tolerable risk guidelines.

Main Results:

  • Industry and government utilize a mix of qualitative and quantitative approaches to define tolerable risk.
  • Financial aspects and sociopolitical factors significantly influence risk tolerance decisions.
  • Existing guidelines for tolerable risk vary between governmental bodies and industry sectors.
  • Discrepancies exist between risk reduction justifiable by sociopolitical factors and that justified by cost-benefit analysis.

Conclusions:

  • Defining tolerable risk for SIS requires a multifaceted approach, integrating qualitative, quantitative, and financial perspectives.
  • Harmonizing risk tolerance guidelines across industries and regulatory bodies remains an ongoing challenge.
  • The justification for risk reduction measures should consider both societal acceptance and economic viability.

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