ABSTRACT
In the Norwegian oil and gas industry, quantitative risk analysis was originally developed as a tool primarily for supporting safe design of the installations. Presently, there is an increasing need for techniques that can support decision making during operational phase on daily basis. The proposed model in this paper integrates work activity triggered decisions and dynamic events triggered decisions into a risk picture updating process. The updated risk picture shows annual average risk level together with time dependent risk levels in terms of point-in-time risk. Quantification of point-in-time risk is further elaborated based on each decision point. The model can be developed during planning phase and updated along with operation. Some case studies will be conducted in next step of the research to testify feasibility of the model.
