Concept Development, Risk evaluation and Hazard Analysis of Process Safety Management (PSM) applied in Steel Plant

For any industry to be successful it is to identify the Hazards to assess the associated risks and to bring the risks to tolerable level. Activities performed in plants because of the nature of operation, complexity of the systems, procedures and methods always involves some amount of hazards. Hazard analysis is carried for identification of undesirable events that can leads to a hazard, the analysis of hazard mechanism by which this undesirable event could occur and usually the estimation of extent, magnitude and likelihood of harmful effects. It is widely accepted within industry in general that the various techniques of risk evaluation contribute greatly toward improvements in the safety of complex operations and equipment. Hazard analysis as in Process Safety Management (PSM) system involves identification of undesirable events that leads to a hazard, the analysis of hazard mechanism by which this undesirable event could occur and usually the estimation of extent, magnitude and likelihood of harmful effects. The high risks activities will be marked in Red colour are un-acceptance and must be reduced. The risks which will be marked in yellow colour are tolerable but efforts must be made to reduce risk without expenditure that is grossly disproportionate to the benefit gained. The risks which will be marked in green have the risk level so low that it is not required for taking actions to reduce its magnitude any further. Later on the overall analysis will be verified and will be used for necessary modification.