Risk Assessment User Guide - How to Conduct a Risk Assessment Using the What-If Methodology

Sep 12, 2026

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Risk Assessment User Guide explains how to conduct facility-, activity-, and product-related risk assessments using a What-If methodology. The guide supports decisionmakers and project development teams in identifying what can go wrong, selecting appropriate controls, and guiding proactive risk reduction and assurance activities across the business life cycle. It outlines the What-If analysis approach, including defining What-If questions, determining answers, assessing risk levels with an OSA risk matrix, defining barriers, and reporting results using the provided template.

LanguageEnglish

CategoryPresentations

FormatPDF

Pages11

Reading Time4 min

AccessFree to download

Introduction

What-If Analysis Methodology

What is a What-If Analysis Methodology?

Conducting the Review

Developing “What-If” Questions

Determining the Answers

Assessing the Risk & Making Recommendations

Risk Prioritization Matrix

OSA Risk Matrix

Determining Consequence, Probability and Resulting Risk Levels

Barrier Definition, Characteristics, Application

OSA Barrier Definition

Reporting the Results

Appendix A: OSA Risk Assessment Template

Risk Assessment User Guide How to Conduct a Risk Assessment Using the What-If Methodology | On sho re Sa fe ty Allian c e (OSA) | [onshoresafetyalliance.org](onshoresafetyalliance.org) | 06/21/2021 | | --- | --- | --- | Special Notes OSA publications may be used by anyone desiring to do so. Every effort has been made by the OSA to assure the accuracy and reliability of the data contained in them; however, the OSA makes no representation, warranty, or guarantee in connection with this publication and hereby expressly disclaims any liability or responsibility for loss or damage resulting from its use or for the violation of any authorities having jurisdiction with which this publication may conflict. OSA publications are published to facilitate the broad availability of proven, sound engineering and operating practices. These publications are not intended to obviate the need for applying sound engineering judgment regarding when and where these publications should be utilized. The formulation and publication of OSA publications is not intended in any way to inhibit anyone from using any other practices. Users of this material should not rely exclusively on the information contained in this document. Sound business, scientific, engineering, and safety judgment should be used in employing the information contained herein. | On sho re Sa fe ty Allian c e (OSA) | [onshoresafetyalliance.org](onshoresafetyalliance.org) | 06/21/2021 | | --- | --- | --- | Table of Contents Introduction ..........................................................................................................................................................3 What-If Analysis Methodology ...........................................................................................................................4 What is a What-If Analysis Methodology? .......................................................................................................4 Conducting the Review........................................................................................................................................4 Developing “What-If” Questions ........................................................................................................................5 Determining the Answers ...................................................................................................................................6 Assessing the Risk & Making Recommendations ...........................................................................................6 Risk Prioritization Matrix.......................................................................................................................................... 6 OSA Risk Matrix ..................................................................................................................................................................7 Determining Consequence, Probability and Resulting Risk Levels ............................................................ 7 Barrier Definition, Characteristics, Application................................................................................................ 7 OSA Barrier Definition......................................................................................................................................................8 Reporting the Results ..........................................................................................................................................9 Appendix A: OSA Risk Assessment Template................................................................................................ 10 Introduction A risk assessment is an analysis of the risks present in a given activity or process. It helps decisionmakers identify things that can go wrong and determine controls to prevent or mitigate the risk. The procedure is designed to help companies and their project development teams m

FAQs

What is the purpose of a risk assessment in this guide?

A risk assessment analyzes risks in an activity or process to help decisionmakers identify what can go wrong and determine controls to prevent or mitigate risk.

Why does the guide emphasize using sound judgment and not relying solely on the document?

It states users should not rely exclusively on the document’s information and should apply sound business, scientific, engineering, and safety judgment when using it.

How does the What-If methodology support assessing and prioritizing risk?

It guides developing “What-If” questions, determining answers, assessing risk using the OSA risk matrix, and making recommendations based on the resulting risk levels.

Sep 12, 2026

Upload by Skyler