Risk assessment

Understanding and assessing risks is a key challenge to most of our clients, who often deal with safety-critical assets. We support clients in apprising the risks, quantifying them and setting up efficient management strategies.
Some failure events in power plants can have severe consequences.

As risks become more complex and the tolerance for risk is declining, an effective risk assessment and management is crucial for businesses. The feasibility of new technologies or construction projects can depend on the ability to control the risks to an acceptable level. To understand the risks, it is necessary to identify and understand the hazards and failure scenarios. To assess the risks, a proper analysis of the available data is necessary and – in some cases – a stochastic analysis, which supports the identification of critical parameters and elements of the system. Through our state-of-the-art risk assessment tools, we can support our clients in every step of such an assessment. We can also support them in setting up risk management schemes, which can be technological, organizational or financial.

A risk matrix is a useful tool for risk assessment and decision making.
Illustration of a risk matrix