Occurrence of Inland water transportation collision event exposes vessel owners and operators, as well as the public to risk. The nature of the threat can be worrisome; it may lead to loss of life, damage to the environment, disruption of operation and injuries. This makes hybrid analysis of accident frequency and consequence for risk quantification of accident scenarios through stochastic tools very imperative for reliable design and exercise of technocrat stewardship of safety and safeguard of the environmental. This paper present technique of modelling prediction of collision risk and mitigation option for aversion of collision incident. The paper discuss accident frequency and consequence estimation probability modelling to determine require matching size of vessels and waterways and other parameters. The paper also discuss the use of reliability tools to check the predicted data.