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RAC

Introduction to Quantitative Risk Assessment

Using stats to predict incidents

Sometimes you need to safeguard your business with precision data. Where the potential impact is significant we need techniques that will provide us with a measurable probability, using statistical analysis of historic data or predictive techniques to estimate the probability of events.

Business benefits

  • Potentially prevent incidents
  • Mitigate the costs of accidents
  • Complete peace of mind

Who should attend?

Board members & senior management

Requirements:

This course will introduce participants to some of the more common techniques in quantitative risk assessment and will allow opportunity for practical exercises. In view of this aspect, this course is only suitable for participants with a reasonable level of numeracy.

Duration

One day 

What the course covers:

  • What is QRA?
  • When would we apply these techniques?
  • Types of random variable

Analysis of historical data using:

  • Normal distribution
  • Binomial distribution
  • Poisson distribution
  • Predictive techniques
  • Fault tree analysis
  • Even tree analysis
  • Failure mode and effect analysis
  • Monte Carlo simulation
  • Hazard indices
  • How to apply the results

On completion of the course you will be able to:

  • Recognise the commonest quantitative techniques employed in risk analysis
  • Understand simple statistical techniques for analysis of historic incident data
  • Understand the principles behind the common predictive techniques
  • Understand the use of hazard indices for assessing impact
  • Understand the benefits and limitations of the various techniques

Interested?

Contact us to discuss how we can help your business.

Call: 0870 606 2606

Email: rac@fleetriskmanagement.net


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Contact Us

Call: 0870 606 2606