Quantitative Risk Assessment (QRA) is a systematic process used to evaluate the potential risks associated with a specific activity or project. It involves the use of numerical data and statistical methods to estimate the likelihood and impact of various hazards. By quantifying risks, organizations can make informed decisions about safety measures, resource allocation, and risk management strategies. In QRA, data is collected on historical incidents, environmental factors, and operational conditions. This information is then analyzed to produce risk metrics, such as probability of occurrence and consequences of failure. The results help stakeholders understand the level of risk and prioritize actions to mitigate it effectively.