Hazard Studies were developed in the chemical industry by ICI and others. The system is generic and hs been adapted to many industries and situations. They are a powerful way to systematically examine a plant design at whatever stage of development for ways in which it might maloperate. This is done by a team of engineers, scientists, managers and technicians appropriate to the project under consideration, led by an independent leader. This allows the team to decide if such events will lead to hazards and therefore risks.
For minor hazards, the team will carry out a risk assessment and decide if any actions are required there and then. For major risks, the team will usually refer the risk assessment to outside the meeting, and will later ensure that this was carried out, and that any outcomes from the assessment have been enacted.
You can download a paper on Hazard Studies here: (to be inserted)