Probabilistic Risk Assessment

Probabilistic Risk Assessment (PRA) is a systematic method used to evaluate the likelihood and potential impact of different hazards or failures, especially in complex systems like nuclear power plants or engineering processes. It involves identifying possible failures, estimating their chances of occurring, and analyzing the consequences. By quantifying these risks, PRA helps organizations prioritize safety measures, improve design, and make informed decisions to prevent accidents. Essentially, it provides a structured way to understand and manage uncertainties associated with potential risks, aiming to enhance safety and reliability in critical systems.