Article
FWG Frank Guldenmund

Introduction Methods for Risk Analysis and Management

Name

:

Methods for risk analysis and management

Period

:

Q2

EC

:

5

Educational method(s)

:

Lectures and workshops

Course code

:

SPM9448

Lecturer(s)

:

Prof.dr.ir. G.L.L.M.E. Reniers a.o.

Contribution of course to objectives

:

Methods and techniques for companies to analyse and manage risks, e.g. with respect to technological innovations

Course description

This course consists of four blocks: (A) introduction, (B) management (C) assessment (D) treatment.

In block A Students will get familiar with the theoretical concepts and definitions of engineering risks: what operational risks entail and how they should be regarded in relation to safety.

In block B, management models and concepts will be discussed, as well as safety culture and performance management, all with respect to engineering risks. The risk management set is discussed.

In block C the course will focus on identification of hazards and qualitative- and semi-quantitative as well as specific quantitative risk assessment techniques. A selection of methods is explored to get acquainted with their application and limitations. Please note that additional quantitative risk analysis approaches are covered in the course SPM9446.

In block D the assessment of the outcomes of a risk assessment are put central to further treat the risks. This includes acceptance issues, risk governance, crisis management, economic decision making and the like.

Course outline

  1. Introduction to engineering and managing risks
  2. Risk management principles
  3. Risk diagnostic and analysis
  4. Risk treatment/reduction
  5. Event analysis
  6. Major industrial accidents and learning from accidents
  7. Crisis management
  8. Economic issues of safety
  9. Risk governance

Objectives

After taking this course the student will be able to:

  • The basic concepts of safety science and risk analysis (partly a refreshment from the first quarter)
  • Risk acceptance and decision making about risks
  • Apply structured methods for risk identification and risk assessment
  • Define relevant data to collect performance management indicators with respect to safety
  • Applying business economics (e.g. cost-benefit analysis) to risk

Assessment

Lectures and workgroup assignments

Literature

  • Meyer, T. and Reniers, G. (2016). Engineering risk management (2nd edition). Berlin: De Gruyter.
  • Slides from lectures.