Risk Management (CNT474) | GSÜ - ECTS Information Guide

Content

Objective

The aim of this course is to introduce the concepts of risk and uncertainty to the students by giving information on the risk management process and to show various application areas by introducing the theoretical and practical information about risk measurement, management and control.

Course Content

1. Semaine : Probabilities - Decision Theory - Utility Theory

2. Semaine : Basic Concepts
Risk - Risk Analysis - Risk Management
Limitations of Risk Analysis

3. Semaine : Types of Uncertainty
Effects of Uncertainty on Risk Management
Decision Making Under Risk

4. Semaine : Quantifying Risk
Risk Management Options
Risk Management Principles

5. Semaine : Risk Management Process

6. Semaine : QUIZ

7. Semaine : Methods of Risk Analysis I

8. Semaine : MIDTERM

9. Semaine : Methods of Risk Analysis II

10. Semaine : Methods of Risk Analysis III

11. Semaine : Risk Assessment in Engineering Economy I

12. Semaine : Risk Assessment in Engineering Economy II

13. Semaine : Risk Intelligence

14. Semaine : Projects Presentations

Course Learning Outcomes

At the end of this course the student;
• Explain the concept and importance of risk.
• Measures and calculates risk.
• Describes and explains the principles of risk management.
• Evaluates the risk and measure the outcomes.
• Examine risk management processes in different disciplines / sectors.

References

Molak, V., Fundamentals of Risk Analysis and Risk Management, Lewis Publishers, 1997.

Aven, T., Risk Analysis: Assessing Uncertainties Beyond Expected Values and Probabilities, John Wiley & Sons, Ltd., West Sussex, England, 2008.

Relation of Proficiency

No	Program Learning Outcomes	Contribution
No	Program Learning Outcomes	1	2	3	4	5
1	Knowledge and understanding of a wide range of basic sciences (math, physics, ...) and the main concepts of engineering				X
2	Ability to combine the knowledge and skills to solve engineering problems and provide reliable solutions					X
3	Ability to select and apply methods of analysis and modeling to ask, reformulate and solve the complex problems of industrial engineering					X
4	Ability to conceptualize complex systems, processes or products under practical constraints to improve their performance, ability to use innovative methods of design			X
5	Ability to design, select and apply methods and tools needed to solve problems related to the practice of industrial engineering, ability to use computer technology		X
6	Ability to design experiments, collect and interpret data and analyze results				X
7	Ability to work independently, ability to participate in working groups and have a multidisciplinary team spirit			X
8	Ability to communicate effectively, ability to speak at least two foreign languages				X
9	Awareness of the need for continuous improvement of lifelong learning, ability to keep abreast of scientific and technological developments to use the tools of information management			X
10	Awareness of professional and ethical responsibility			X
11	Knowledge of the concepts of professional life as "project management", "risk management" and "management of change"					X
12	Knowledge on entrepreneurship, innovation and sustainability
13	Understanding of the effects of Industrial Engineering applications on global and social health, environment and safety.				X
14	Knowledge of the problems of contemporary society				X
15	Knowledge of the legal implications of the practice of industrial engineering