Probabilistic Safety Value Analysis

Introduction

Probabilistic Safety Value Analysis is a process that uses the Reliability, Availability, Maintainability and Safety (RAMS) process combined with Fault Tree Analysis (FTA).

It is designed to achieve the following objectives:

• evaluate the soundness of a system
• check if all safety requirements are fulfilled (using RAMS)
• create a better understanding of context, causes and effects
• evaluate critical failure combinations (Minimal Cut Sets) 
• provide a description of potential for optimisation via comprehensive assessment 
• support probabilistic methods to model uncertainty

Outcomes 

Based on the results of probabilistic safety value analysis, measures can be taken to optimise the system such as: 

• optimisation of the system structure
• creation of additional redundancies
• replacement of particularly susceptible components with more robust components
• installation of monitoring systems to detect faults at an early stage
• adjustment of maintenance intervals and scope 
• avoidance of common cause failures.

Sources
The information on this page was primarily sourced from:

• Text provided by Taylor Burns, Project Engineer, RiskConsult, GmbH
• Peer review conducted by Pedram DaneshMand, Director, Project Risk Consulting, Audit, Assurance & Risk Consulting, KPMG
• RiskConsult RIAAT Software RAMS Analysis webpage, 2019.