Probabilistic Risk Assessment (PRA)

Probabilistic Risk Assessment (PRA) is a structured way to evaluate potential risks by estimating the likelihood and consequences of different adverse events. It uses data, models, and statistics to identify possible failures or accidents in systems like nuclear plants or airplanes. PRA helps organizations understand where vulnerabilities are most significant, so they can prioritize safety improvements. Instead of just guessing, it provides a quantitative picture of risk, enabling informed decision-making to prevent or mitigate harm while considering both the chance of incidents and their potential severity.