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This is the first edition of CSA Standard CAN/CSA-4634, Risk Analysis Requirements and Guidelines.
This Standard sets out general requirements and gives guidelines for selecting and implementing risk analysis techniques, primarily for technological hazards. Risk analysis is a structured process that attempts to identify both the extent and likelihood of consequences associated with such hazards. Risk analysis answers three fundamental questions:
(1) What can go wrong?
(2) How likely is it? and
(3) What are the consequences?
This Standard also provides guidelines to ensure that the results of the risk analysis are documented with sufficient clarity that they can be readily reviewed and used by persons other than the author(s) of the analysis. This process not only ensures that the results of the analysis achieve the required quality, it also enables the analyst to demonstrate that this is so.