Which of the following statements is correct with regard to determining the probability of a...

According to Section 11.2.1 of API 580:

“The probability of credible events leading up to the specific consequence should be factored into the probability of the specific consequence occurring.”

Additionally:

“It is important to understand this linkage between the POF and the probability of possible resulting incidents… The probability of a specific consequence is tied to the severity of the consequence and may differ considerably from the probability of the equipment failure itself.”

Option A is correct and emphasized directly in API 580.

Option B is incorrect because considering all credible events is essential.

Option C is incorrect: the probability of a consequence typically decreases with severity.

Option D is incorrect: the probability of consequence is linked to the probability of failure.