Question 1 (20 marks) A quantitative risk assessment (QRA) is a formal and systematic approach to quantifying the risks associated with engineering process. It is an essential tool to understand the risk exposure to employees, environment, and communities. (1) As part of the QRA method, individual risk (IR) and societal risk (SR) need to be assessed. Explain the following: (a) Preparations for QRA analysis; ( 5 marks) (b) Differences betwen IR and SR; ( 2 marks) (c) How IR and SR values are derived. (3 marks) (2) One storage tank is filled with flammable liquid using a pump and piping system. The leak frequencies from the pump and pipe are 0.01 and 0.001 per year, respectively. In order to avoid any adverse impact, there are two independent layers of protection, i.e., dike and fire alarm, assuming the probabilities of failure for protection as 0.05 each. If both protections failed, then it will potentially cause fatalities, and the fatality probability is 0.01 . Based on the information provided, please calculate the fatality risk in the process. (10 marks)