True or False: If a design does not meet the risk tolerance criteria, conducting a more detailed Quantitative Risk Assessment may be warranted.

The statement is true because when a design does not align with the established risk tolerance criteria, it indicates that the current safety measures or layers of protection might be insufficient to mitigate the identified risks adequately. In such scenarios, it becomes essential to conduct a more detailed Quantitative Risk Assessment to further analyze potential hazards, evaluate the effectiveness of existing risk controls, and possibly identify additional measures that could be implemented to lower the risks to an acceptable level.

This detailed assessment goes beyond qualitative analysis by providing numerical insights into the likelihood and consequences of hazards, allowing for a more informed decision-making process. Understanding where the design falls short can guide adjustments to the system or processes to enhance safety and compliance with organizational or regulatory risk thresholds.