Abstract

Various international risk standards and life cycle approaches along with identification, analysis, prioritization, treatment, and result monitoring approach toward risk management are mainly dealt with in this chapter. The discussions start with both external and internal approaches and objectives for the standards. ISO 31000 and ISO Guide 73:2009 are discussed at length. Risk management and dependability standards are discussed, including discussions on ISO/IEC 31010 (risk assessment) and the series of IEC 60300 standards. Starting with functional safety assessment overview, functional safety and safety life cycle in line with IEC 61508 and IEC 61511 are described at length. The discussions also include the differences between the two standards in their applications and implementation. The philosophies of both standards are discussed at length. The discussions also cover risk reduction, safety integrity level, low and high demands, and failure rates. Various part details, with discussions on specification, design validation, etc. have been presented. The discussions also include functional safety management hardware and software details along with all annexures covering miscellaneous safety issues. Separate discussions meant for manufacturers in IEC 61508 and end users in IEC 61511, as well as ISA 84, have been presented for better understanding and realization.

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