TeachMeFinance.com - explain Probabilistic risk assessment (PRA)
Probabilistic risk assessment (PRA) The term 'Probabilistic risk assessment (PRA)' as it applies to the area of nuclear science can be defined as ' A systematic method for assessing three questions that the NRC uses to define 'risk.' These questions consider (1) what can go wrong, (2) how likely it is, and (3) what its consequences might be. These questions allow the NRC to understand likely outcomes, sensitivities, areas of importance, system interactions, and areas of uncertainty, which the staff can use to identify risk-significant scenarios. The NRC uses PRA to determine a numeric estimate of risk to provide insights into the strengths and weaknesses of the design and operation of a nuclear power plant. For additional detail, see Risk Assessment in Regulation and Probabilistic Risk Assessment. '.
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