In QRA, the probability of a risk is calculated using historical data, failure rates, and statistical models like event trees and Monte Carlo simulations. The impact is assessed by estimating the potential consequences—financial, operational, or safety-related—if the risk occurs. Both are combined to prioritize risks based on their likelihood and severity. If you want to know more about qra, then you can join with us.

https://www.sigma-hse.co.in/quantitative-risk-assessment-qra