Quantitative risk management and its limits : a UK engineering perspective

Kemp, Roger John (2016) Quantitative risk management and its limits : a UK engineering perspective. In: Routeledge Handbook of Risk Studies :. Routledge, London, pp. 164-176. ISBN 9781138022867

Abstract

The paper discusses the UK Health and Safety risk assessment processes and the requirement, in some high-hazard industries, to quantify risks in terms of fatalities per million hours. While these techniques work for commonly occurring incidents, they are far less successful in quantifying the likelihood and effects of the high-impact events, such as train crashes or nuclear incidents.