HAZOP (Hazard and Operability Study) is a structured method used to identify potential hazards and operational issues in industrial processes. A team systematically examines the system using guide words like "more" or "none" to explore possible deviations from normal operation. This helps uncover risks, their causes, and safety measures. HAZOP is essential for improving safety, preventing accidents, and ensuring regulatory compliance in complex systems like chemical or oil and gas plants.