Risk Engineering Paper: Process Hazard Analysis (PHA)

Major accidents on energy sites have the potential to result in hundreds of millions of dollars of physical damage, present a danger to employees and the local population, and can lead to significant business interruption.

Marsh’s risk engineering position paper looks at the steps that can be taken to minimize the risk of a serious incident. Many of the PHA techniques discussed in this paper are considered to be well established within the industry, and have been standardized with templates developed for their execution in many organizations.