1. A method performed using a computerized system comprising a database and a processor executing software configured for designing a protection subsystem for protecting a process system, said process system comprising a plurality of process equipment, said method comprising the steps of: storing, in the database, process equipment physical properties data corresponding to and associated with the specific components of the plurality of process equipment; accepting, from a user using said computerized system, process system design information denoting a desired design of the process system; and automatically determining, using said computerized system, protection subsystem design information pertaining to a design of the protection subsystem for protecting said process system, said determining utilizing at least a portion of said process system design information and said process equipment physical properties data, wherein the database also stores information identifying a source of a plurality of specific components of the plurality of process equipment and/or a source of a plurality of specific components of the protection subsystem for associating with the process system design information and/or the protection subsystem design information, respectively.