Risk assessment of probable hazards, is one of the major stages for upgrading safety level of existent process or a process in design phase. Risk assessment is a method for deciding is safety upgrading of a unit economical or not. In developed countries, risk assessment is essential for process unit. In this paper in order to introduce risk assessment, its implementation steps such as hazard identification, consequence modeling and risk calculation method such as risk matrix and F-N curve have been discussed. Consequence modeling of hazards such as fire, explosion and toxic releases, which may occur due to human error or failure of equipment, is an important stage of risk assessment that nowadays carried out by computer softwares. At last, a case study of risk assessment has been studied for ammonia storage Tanks of a petrochemical complex by using software PHAST for consequence modeling.