Most organizations fail to conduct process hazard analysis (PHA) because they are not sure of the benefits they will get from it. This article details the benefits of process hazard analysis so that you can find out if your organization needs to conduct it. If you are unfamiliar with the hazard analysis process and how it can be used, you’re not alone. Many companies struggle to comprehend the necessity of such a process. The benefits of process hazard analysis are often glossed over. Process hazard analysis is aimed at identifying, analyzing, and reducing potential failures in a process.