[en] Probabilistic risk assessment (PRA) calculates the probability that a set of multiple failures could occur, the frequency with which the safety circuits will be required and the consequences of the failure of the safety systems. In this way the frequency with which major accident situations can be expected to happen, can be derived. The world history of PRA is presented, together with the South African history of PRA. The theory of PRA is explained and the application of PRA studies is described. In the last twenty years, PRA has gone from being a theoretical idea to a practical tool for assisting in plant management. 2 figs., 1 ill