Dear Abhay,
Maximum Credible Loss Accident Analysis
Maximum credible (loss) accident analysis is one of the most widely used concepts in risk assessment of chemical process industries, which involves the following steps:
1. **Development of Credible Accident Scenarios:** For the units of any industry being analyzed, a set of scenarios are developed for accidents which are 'credible'; the credibility is qualitatively understood as a combination of likelihood (of occurrence) and scale (of damage potential).
2. **Delineation of Maximum Credible Accident Scenario:** Based on the credibility of the accident scenarios, they are ranked, and maximum credible accident scenarios are identified.
3. **Damage Calculations through Mathematical Modelling:** The impact of these scenarios—for example, an explosion followed by a fireball—is then studied using available models of explosion, boiling liquid expanding vapor cloud explosion (BLEVE), confined vapor cloud explosion (CVCE), vapor cloud explosion (VCE), and fireball.
4. **Risk Estimation:** Based on the damage potential estimated in the previous step and the probability of occurrence of these credible accident scenarios, risk factors are estimated.
Central to these steps is the aspect of 'credibility'. A 'credible' accident is one which is within the realm of possibility and is also likely to be severe enough to cause significant damage.
Hope this answers you. Once again, I'm late due to a tight schedule. Kindly regret, as it cannot be avoided in my current schedule. But I'm happy to see many good questions arising from you. Keep on asking (with patience to get a reply).
Dear Ragu,
Once again, thank you for your valuable contribution. Keep on contributing. Even though I'm not answering all the posts, I'm having a look at the posts at least during alternate days. But due to the current tight work schedule, I'm unable to reply or take part immediately.
Regards