A professional handbook for engineers and safety specialists on implementing cost-effective risk assessment during the design of chemical and industrial process plants. The work provides systematic guidance on selecting the most appropriate hazard identification and risk assessment methods — such as HAZOP, What-If analysis, fault tree analysis, and consequence modelling — based on the stage of process design, available resources, and the required depth of analysis. The primary focus is on enabling engineers to make intelligent, economically justified choices in applying risk assessment techniques, thereby controlling analysis costs while maintaining safety integrity. Topics include process hazard analysis methodologies, risk ranking and prioritisation, cost-benefit analysis of safety measures, and practical implementation guidance for process design teams. Suitable for process engineers, plant designers, safety engineers, and chemical engineers involved in new plant design or process modification.