Which formula is used for calculating risk in LOPA?

In Layer of Protection Analysis (LOPA), risk is quantified using the formula that states risk equals the frequency of an event multiplied by the consequence of that event. This approach provides a clear and quantitative method for assessing risk in various scenarios.

This formula is particularly useful because it breaks down risk into two fundamental components: how often an undesired event occurs (frequency) and the potential impact or harm of that event (consequence). By multiplying these two factors, LOPA allows analysts to gauge the overall risk associated with specific hazards more effectively.

Utilizing this formula helps in prioritizing risk reduction measures, as it highlights where the greatest threats lie based on both their likelihood and their potential consequences. This allows teams to make informed decisions when evaluating the adequacy of existing layers of protection and determine if additional measures are necessary.

The other choices presented do not align with the standard risk calculation in LOPA, as they either add elements together or focus inadequately on frequency and consequence without the crucial multiplicative relationship that LOPA relies upon for accurate risk measurement.