This paper highlights major steps in the procedure for evaluating the consequences of accidents involving dangerous substances, especially during the storage, and loading/unloading activities. The procedure relies on identifying accident scenarios that could be encountered at particular plants, followed by a modelling of these scenarios by means of available modelling systems. Finally, the resultant outcomes are identified, together with their effects on both people and property. The resources needed to perform this procedure are discussed, in order to clarify the roles of plant operators, external experts and other institutions when evaluating any accident consequences. Four examples, all relevant in industrial practice, are given in order to illustrate the procedure: the releasing of liquified petroleum gas, flammable organic solvents, toxic chlorine, and oil fuels. The results of these studies may be used for a quick order-of-magnitude estimation of accidents consequences.