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Therefore, although the actual historical failure-rates are used in the quantitative risk assessment model, it is likely that the high failure rate of poor performing components will be improved during the next few years of the plant operation.
The output from the quantitative risk assessment model can assist plant managers to prioritize maintenance activities and allocate more budget and resources to the most financially significant processes.
In developing quantitative risk assessment models for petrochemical plants, component failures as well as human (operator) errors are taken into consideration in developing the plant's fault-tree logic, in which is used to predict probabilities of future plant upsets.
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