Regardless of the type of risk assessment, ultimately when managing risk, it is important to pay close attention to the adequacy of the control measures. Brian Cooper (Director and Principal Risk Consultant) will discuss this topic and the use of Layers of Protection Analysis (LOPA) to examine adequacy of controls in this webinar.
LOPA provides a very good basis for assessing the adequacy of controls. The principles underpinning LOPA can be extended and applied in qualitative risk assessment studies to cater for the assessment of controls for non-process scenarios. Instead of attempting to analyse control reliability in terms of “probability of failure on demand” (PFD), descriptive terms that are more meaningful to a non-technical workshop group can be used.