Abstract :
In an earlier article, risk analysis was defined as comprising four stages-scope definition, hazard identification, hazard analysis, and risk assessment. Here, the subjectivity inherent in the third stage, hazard analysis, is examined. This article first considers the two aims of the process: to determine consequences and likelihood. It examines the ways in which subjectivity affects the numbers arrived at in both cases. Then it considers the use of the most usual top-down method, fault tree analysis (FTA), in arriving at them. Finally, there is a discussion of the findings.
