What are the most common process safety management risk assessment methods?
Process safety management (PSM) is a systematic approach to prevent or minimize the consequences of hazardous events in industrial facilities. PSM involves identifying, evaluating, and controlling the risks associated with the processing, handling, and storage of hazardous materials. One of the essential elements of PSM is risk assessment, which is the process of estimating the likelihood and severity of potential incidents and their impacts on people, environment, and assets. Risk assessment methods can vary depending on the nature, complexity, and stage of the process, but some of the most common ones are: