RiskSpectrum RiskWatcher

RiskSpectrum® RiskWatcher is a risk monitor software for managing risk

RiskSpectrum RiskWatcher is a software for study of risk (past, current and planned). It is available both as web-based and as desk-top application.
At any given time, RiskSpectrum RiskWatcher reflects the current configuration in your system, plant or operations including the known status of the various systems and equipment.
RiskSpectrum RiskWatcher is based on, and is designed to be consistent with, a Fault Tree and Event Tree model, commonly known as PRA (Probabilistic Risk Assessment), PSA (Probabilistic Safety Assessment) or QRA (Quantitative Risk Assessment).

With RiskSpectrum RiskWatcher you can:
- Manage plant operational safety
- Support scheduling activities
- Achieve greater flexibility in plant operations
- Provide justifications for carrying out maintenance on-line
- Provide information on the risk importance of components that are in service as well as out of service.
- RiskWatcher provides output of both quantitative and qualitative results:

The quantitative results in, for example, a nuclear power plants are typically Core Damage Frequency (CDF) and Large Early Release Frequency (LERF) plotted over time.
The qualitative results indicate the level of availability of safety systems in colour codes; green, yellow, orange and red and this is also used on drilling rigs for monitoring risk for blow-out.

RiskSpectrum RiskWatcher includes time dependent reliability data in its calculations and hence enables you to study the effects test intervals have on risk.
Minimal cut sets are regenerated and re-quantified for every calculation in RiskSpectrum RiskWatcher.
- In our opinion, that’s the only way to ensure that all plant status changes are accurately reflected in the result.

The latest version, RiskSpectrum RiskWatcher version 1.37, was released in August 2016. Contact sales.riskspectrum@lr.org for more information and quotation.