RALARP meaning in oil and gas
Definition
Reverse ALARP
RALARP means Reverse ALARP. Use of QRA and CBA to show a less protected situation will still reduce risks to a level which is ALARP. Some operators have from time to time tried to show through quantitative risk…
Use of QRA and CBA to show a less protected situation will still reduce risks to a level which is ALARP. Some operators have from time to time tried to show through quantitative risk assessment (QRA) and cost benefit analysis (CBA) that moving to a less protected situation will meet legal requirements to reduce risks to a level that is ALARP, sometimes arguing that the increase in risk is more than balanced by gains in reduced operational costs or increased operating profit – a “reverse ALARP” argument.
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