With the need to juggle design requirements. recommendations. personal opinions, and company preferences, how, does one determine a safe, cost-effective risk reduction design? A quick solution may be to incorporate all potential safeguards, but that is neither practical nor cost-effective, Companies have turned to various methods to evaluate their mitigation options for fire, explosion, and reactivity, hazards. Most methods simply, identify the high-risk issues,. they do riot determine the most cost-effective risk reduction options. Whether it is for a capital project, regulatory compliance, or to define standards, cost-benefit analysis (CBA) is a proven method for cost-effective risk management. Three case studies are presented in this paper to illustrate the flexibility and benefits of this approach.