Risk reducing measures in the context of risk management in quantitative risk analysis for maintenance and modification projects

Master's thesis in Risk management and societal safetyRisk analysis in the oil industry is used to identify and address the risks that are involved in a certain situation, on for instance a platform. Risk analyses have a long history in the oil and gas industry, and have been a vital part of the entire lifecycle of any project in this industry. The content of the risk analysis consists of risk identification and calculation, and recommended risk reducing measures that can be implemented to reduce the risk to ALARP. The purpose of this thesis is to discuss how risk and risk reducing measures are identified and addressed in a risk analysis process. To be able to prepare and deliver a risk analysis, regulations determined by the authorities shall be followed and standards can be used as guidance. This thesis also looks at the regulations and standards that are present in risk analyses and in which way the risk analysis fulfils the criteria. Literature review, study of three different case studies and informal interviews, have been performed and evaluated to determine how risk and risk reducing measures are identified and addressed in risk analyses. The three case studies use quantitative-, concept- and total risk analysis, in different stages of the life cycle in a platform. The risk analyses for the three case studies have been evaluated and compared, with respect to the regulations and standards. Furthermore, potential improvements have been suggested to implement in a risk analysis. It is evaluated, from the case studies used in this thesis, that risk and risk reducing measures often are based on traditional approaches as well as implemented data from statistics and previous case studies. The underlying understanding regarding risk and risk reducing measures are often not presented in risk analyses nor are the uncertainties and causes of given activities.Aker Solutions MM