Using generic failure rates for unique equipment yields useless results. If your plant runs 24/7 in a corrosive environment, generic “chemical plant” failure rates are too optimistic. The guidelines stress Bayesian updating (using your site’s historical data to modify generic rates).
Implementing CPQRA is a complex but necessary evolution for any high-hazard facility. By moving from "it might happen" to "it happens once every 10,000 years with an impact radius of 200 meters," safety professionals can prioritize resources where they are most effective. Using generic failure rates for unique equipment yields
While this book is a copyrighted industry standard and typically must be purchased through AIChE or Wiley publishers, you can often find: Implementing CPQRA is a complex but necessary evolution
The final step is decision-making. Compare calculated risk against your criteria. If risk is unacceptable, propose safeguards: Compare calculated risk against your criteria