Course information

DESCRIPTION: Concept of risk and risk management, risk management in engineering projects, risk management in businesses, business continuity, methods of risk identification, methods of risk analysis – qualitative techniques, methods of risk analysis – quantitative techniques, methods of risk assessment and treatment, critical success factors and risk management culture, human biases in risk management, business impact analysis and risk assessment. Risk analysis structure, risk catalogs, risk matrix, probability and consequence scales, quantitative risk measurement, Monte Carlo simulation, risk avoidance/mitigation/transfer strategies, risk sheets and registers, psychology/perception of risk management. LEARNING OBJECTIVES: Upon completion of the course, students will be able to: understand the basic principles and terminology of risk management according to relevant international scientific standards. develop processes related to the individual areas of risk management (identification, analysis, treatment, and monitoring). apply the main methods and techniques for risk identification, analysis, treatment, and monitoring. conduct business impact analysis. create risk management and treatment plans at the level of engineering projects or businesses.