NOMENCLATURE

The use of risk based techniques applied to the classification of marine vessels and offshore structures is becoming more commonplace. Classification Societies are publishing Guides that the industry would follow to make use of risk assessment techniques to support the request for classification approval. The risk-based classification process can involve any of a wide range of risk assessment approaches, from simple qualitative tools to full quantitative risk models, depending on the extent and complexity of the new or alternative design to be classed. The use of tools such as quantitative models will significantly assist the industry in taking advantage of this innovative risk-based classification scheme. One of the developed tools is a comprehensive Quantitative Risk Assessment (QRA) model for an oil tanker. This model may be used to evaluate competing designs, the relative benefits of redundancy, and the impact of equipment unavailability during operations. This paper will present the basic design and methodology used to build the model, along with samples of results from the applications performed