[ Risk Assessment Fundamentals ]

The principles of risk assessment and management are clear: think about the likelihood of an event along with the consequences of that event. 

We do it all the time, every day, for ordinary life decisions.  It’s when we try to put science to it, or explain it, or rank it, or use our judgement to make heavy decisions based on it… that’s when it gets very complicated.

In order to understand, and then manage, risk for pipelines, we must understand the principles of risk, along with many pipeline-specific considerations, such as population density, plume dispersion, damage resistance, and ignition probabilities.

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PECS RA001 Risk Assessment Fundamentals, # 30 of 35 core competencies.