A key principle for achieving Tolerable Risk under the UK Health and Safety Executive’s (HSE) approach is the reduction of risks to “As Low As Reasonably Practicable” or ALARP. This principle is founded on the ideal of reducing risks to a point of diminishing returns where additional risk reduction would cost “disproportionally” more than the risk reduction benefit achieved. The HSE approach of estimating the degree of disproportionality between the cost and benefits associated with a potential risk reduction measure is a variation of the Cost Effectiveness approach to ALARP Evaluation. A probabilistic cost-benefit analysis method is outlined for evaluating design options and establishing whether the conditions of ALARP are met. This paper demonstrates the value of probabilistic cost-benefit analysis for the selection of a target safety level and also presents an example of its practical application by way of a case history.
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ASME 2005 24th International Conference on Offshore Mechanics and Arctic Engineering
June 12–17, 2005
Halkidiki, Greece
Conference Sponsors:
- Ocean, Offshore and Arctic Engineering Division
ISBN:
0-7918-4196-0
PROCEEDINGS PAPER
Costing for ALARP Available to Purchase
Sirous F. Yasseri,
Sirous F. Yasseri
Kellogg Brown and Root, Leatherhead, Surrey, UK
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Peter Menhennett
Peter Menhennett
Kellogg Brown and Root, Leatherhead, Surrey, UK
Search for other works by this author on:
Sirous F. Yasseri
Kellogg Brown and Root, Leatherhead, Surrey, UK
Peter Menhennett
Kellogg Brown and Root, Leatherhead, Surrey, UK
Paper No:
OMAE2005-67017, pp. 9-16; 8 pages
Published Online:
November 11, 2008
Citation
Yasseri, SF, & Menhennett, P. "Costing for ALARP." Proceedings of the ASME 2005 24th International Conference on Offshore Mechanics and Arctic Engineering. 24th International Conference on Offshore Mechanics and Arctic Engineering: Volume 2. Halkidiki, Greece. June 12–17, 2005. pp. 9-16. ASME. https://doi.org/10.1115/OMAE2005-67017
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