Abstract
The work presented in this paper used a quantitative analysis of relevant risks through the development of fault tree analysis and risk analysis methods to aid real time risk prediction and safety evaluation of leak in a storage tank. Criticality of risk elements and their attributes can be used with real time data to predict potential failures likely to occur. As an example, a risk matrix was used to rank risk of events that could lead to a leak in a storage tank and to make decisions on risks to be allowed based on past statistical data. An intelligent system that recognizes increasing level(s) and draws awareness to the possibility of additional increase before unsafe levels are attained was used to analyse and make critical decisions. After a visual depiction of relationships between hazards and controls had been actualized, dynamic risk modelling was used to quantify the effect controls can potentially have on hazards by applying historical and real-time data into a probabilistic model. The output of a dynamic risk model is near real-time quantitative predictions of risk likelihood. Results from the risk matrix analysis method mixed with RTD and FTA were analysed, evaluated, and compared.
Original language | English |
---|---|
Article number | 104597 |
Number of pages | 9 |
Journal | Journal of Loss Prevention in the Process Industries |
Volume | 73 |
Early online date | 13 Jul 2021 |
DOIs | |
Publication status | Published - 1 Nov 2021 |
Keywords
- fault tree analysis
- decision making
- risk analysis
- storage tank
- risk prediction
Fingerprint
Dive into the research topics of 'Safety evaluation of leak in a storage tank using fault tree analysis and risk matrix analysis'. Together they form a unique fingerprint.Prizes
-
Top two per cent of researchers in the world
Sanders, D. (Recipient), 2 Nov 0001
Prize: National/international honour