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The real costs of risk analysis
Author(s) -
Rosenthal Isadore,
Lewis Philip G.
Publication year - 1994
Publication title -
process safety progress
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.378
H-Index - 40
eISSN - 1547-5913
pISSN - 1066-8527
DOI - 10.1002/prs.680130212
Subject(s) - promulgation , process safety management , risk analysis (engineering) , business , risk management , process (computing) , operations management , process safety , actuarial science , engineering , computer science , work in process , finance , waste management , political science , law , hazardous waste , operating system
Abstract With the promulgation of the recent OSHA process safety management standard (PSM) and the proposed EPA rule on Risk Management Programs (RMP) for chemical accident prevention there is a shift in the incremental costs incurred by a firm from voluntary use of state‐of‐the‐art chemical process quantitative risk analysis (CPQRA).