VelocityEHS Operational Risk software provides a single view of risk and controls so you can eliminate spreadsheets and versioning headaches. Watch any potential risks at a glance and dissolve risk silos by bringing together risks from across your business in a single easy to understand view. Even better, our software allows you enter data once and then choose the level of analysis you want to perform, from pictorial, qualitative, LOPA or quantitative with fault & event tree support, cutting analysis costs dramatically. All risk data is available via reporting and dashboards showing at a glance the performance of every element of your risk & assurance process, enhancing transparency, collaboration, decision making confidence, regulatory compliance & continuous improvement.
Quantitative Risk Analysis
What is Quantitative Risk Analysis?
Quantitative Risk Analysis is a rigorous and comprehensive method of assessing risk. It uses verifiable data to make a numerical prediction of an event’s likelihood and the severity of its impact. Compared to a Qualitative Risk Analysis, which ranks likelihood and consequence on a graduated scale (e.g. minor, major or critical consequence or an unlikely, likely, probable likelihood) to determine the risk ranking, a Quantitative Risk Analysis assigns a numeric value to probability and consequence to calculate a numeric risk value. Common quantitative risk analyses include Layer of Protection Analysis (LOPA), Probable Loss of Life (PLL) and Cost-Benefit Analysis.
Explore Our Quantitative Risk Analysis Capabilities
Quantitative Risk Analysis is part of our Operational Risk Solution. To see the full set of features, click here.
Integrated hazard & risk identification with fully customizable visualizations & analysis
At-a-glance performance dashboards for organizational visibility & transparency
Generate bowties, LOPA, PLL, and Cost-Benefit Analysis automatically in a single platform
Easy bowtie analysis switching between qualitative & quantitative mode
Common library of causes, controls, consequences, and other factors drawn from all models into one place
Wide range of auto calculated risk ratings, including Initial, Inherent, Current and Proposed
View data through a variety of built in safety case reports, or export to Excel
Integrated hazard & risk identification with fully customizable visualizations & analysis
At-a-glance performance dashboards for organizational visibility & transparency
Generate bowties, LOPA, PLL, and Cost-Benefit Analysis automatically in a single platform
Easy bowtie analysis switching between qualitative & quantitative mode
Common library of causes, controls, consequences, and other factors drawn from all models into one place
Wide range of auto calculated risk ratings, including Initial, Inherent, Current and Proposed
View data through a variety of built in safety case reports, or export to Excel
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Stress less and achieve more with VelocityEHS at your side. Our products and services are among the most recognized by industry associations and professionals for overall excellence and ease of use.
