Selection of failure frequency and its impact on risk assessment - A case study from plot plan optimisation

Case study of a plot plan optimisation study is undertaken with DNVGL Phast Risk and the variation in risk levels up to two orders of magnitude are recorded. Challenges such as adaption of data for local conditions, consistent definitions of failure, sample size of data, applicability of data play a significant role in identifying and correctly quantifying the risk levels. Such challenges and its impact on risk quantification are presented in this paper as well as its impact on facility siting.