Pipeline Risk Assessment 
    Fundamentals
    KATHY FOX
    Dan Williams, P.Eng.
    CHAIR, TRANSPORTATION SAFETY  BOARD OF CANADA
    Principal Consultant, Dynamic Risk
    2021 BANFF PIPELINE WORKSHOP    BUILDING AND MAINTAINING COMPETENCE
     2021 BANFF PIPELINE WORKSHOP    BUILDING AND MAINTAINING COMPETENCE
    LOOKING FORWARD TO AN EVEN SAFER FUTURE
       Agenda
        Introductions
        Risk Definitions and Concepts
        Pipeline Risk Assessment Concepts
        Guidance from Standards
                  Check on Questions?
        Pipeline Risk and Reliability Modeling
          o Estimating Failure Likelihood
                  Check on Questions?
          o Estimating Consequence of Failure
    KATHY FOX
          o Societal Risk and Individual Risk
    CHAIR, TRANSPORTATION SAFETY  BOARD OF CANADA
        Risk Acceptance Criteria and Presentation of Risk
        Integrating Risk Results into Integrity Management
                  Check on Questions?
     2021 BANFF PIPELINE WORKSHOP    BUILDING AND MAINTAINING COMPETENCE
    LOOKING FORWARD TO AN EVEN SAFER FUTURE
       Risk Definitions 
       and Concepts
    KATHY FOX
    CHAIR, TRANSPORTATION SAFETY  BOARD OF CANADA
     2021 BANFF PIPELINE WORKSHOP    BUILDING AND MAINTAINING COMPETENCE
    LOOKING FORWARD TO AN EVEN SAFER FUTURE
       Risk Defined
             Risk is “The chance of loss”                                
                                      (Concise Oxford Dictionary)
               ►This definition involves:
               Loss                                   Adverse consequences
    KATHY FOX                                        Uncertainty regarding the loss
               Chance 
    CHAIR, TRANSPORTATION SAFETY  BOARD OF CANADA
     2021 BANFF PIPELINE WORKSHOP    BUILDING AND MAINTAINING COMPETENCE