API 580 STUDY EXAM Questions And Answers 100% correct Verified

A physical condition or release of hazardous material that could result from component failure and result in human injury or death, loss or damage, or environmental degradation. (a) Hazard (b) Loss (c) failure(a) Hazard Limitation of any negative consequence or reduction in probability of a particular event. (a) mitigation (b) reduction (c) residual(a) mitigation Methods that use engineering judgment and experience as the bases for the analysis of probabilities and consequences of failure. (a) Qualitative risk assessment (b) Relative risk (c) Nominal risk(a) Qualitative risk analysis An analysis that identifies and delineates the combinations of events and estimates the frequency of occurrence for each combination and estimates the consequences. (a) Quantitative risk analysis (b) Qualitative risk analysis(c) Process hazard analysis(b) Qualitative risk analysis (blank) uses logic models depicting combinations of events. (a) Quantitative risk analysis