Risk assessment is an important part of the engineering design process whereby foreseeable hazards are identified and addressed with the goal of maximizing safety by minimizing risk. A risk-benefit analysis considers both the frequency of a potential hazard as well as the severity of the hazard.
Caulfield Engineering experts assist manufacturers in completing risk assessments during new product development. Our experts’ vast knowledge and experience is leveraged by companies to identify hazards that must be considered during the risk assessment, and evaluate the severity of those hazards. Additionally, Caulfield Engineering’s experts also deploy risk assessment and analysis techniques in post-accident investigations to determine whether the overall product safety can be increased. Caulfield Engineering experts carefully consider the implications of instituting each safety measure, not just in the specific accident scenario, but in the overall operational environment to minimize the overall operational risk.