INTRODUCTION to RISK ANALYSIS and MANAGEMENT

AIM

In this course, applications of risk analysis and management issues in engineering systems are defined. The main purpose of the course is to understand the concept of risk and to ensure that risk-causing situations can be predicted at the design stage, if possible, or to plan in advance what kind of precautions will need to be taken after the risk occurs. Risk analysis and management issues should be planned at the design stage of the systems and it is an approach that should be addressed at all stages when the system is functional. Learn how to measure risk and how to calculate risk. Current events and case studies will be examined throughout the semester for a better understanding of all these concepts and topics. A project is prepared by considering a case study on risk analysis and management.

CONTENT

This course contains; Introduction to general concepts of risk ,Risk, risk analysis and risk management definitions ,Risk Assessment ,Probabilistic Risk Assessment (PRA),Risk Management,Case study about risk assessment and risk analysis ,Case study about risk management ,Course project teams and topics ,Introduction to reliability and reliability engineering,Proactive and reactive approaches to risk, resilience engineering,Case study about resilience engineering ,Special topics: Financial risk management,Final Project Presentations,Final project presentations.

1. 1

   1. Defines the concepts of risk, risk analysis and risk management through real-life cases.

   Taught by: Discussion Method, Case Study Method, Project Based Learning Model, Inquiry-Based Learning, Lecture Method · Assessed by: Traditional Written Exam, Homework, Project Task, Quiz

2. 2

   2. Analyzes the concept of reliability and the basics of reliability engineering.

   Taught by: Discussion Method, Case Study Method, Project Based Learning Model, Inquiry-Based Learning, Lecture Method · Assessed by: Traditional Written Exam, Homework, Project Task, Quiz

3. 3

   3. Defines the concepts of proactive and reactive approaches to risk.

   Taught by: Discussion Method, Case Study Method, Project Based Learning Model, Inquiry-Based Learning, Lecture Method · Assessed by: Traditional Written Exam, Homework, Project Task, Quiz

4. 4

   4. Identify the special topics in risk management, including technological, financial, and organizational risk management.

   Taught by: Discussion Method, Case Study Method, Inquiry-Based Learning, Lecture Method · Assessed by: Traditional Written Exam, Homework, Project Task, Quiz

5. 5

   5. Evaluates how systems can be designed or redesigned to eliminate or minimize risk sources and the possible negative consequences of disruptive events.

   Taught by: Discussion Method, Case Study Method, Project Based Learning Model, Inquiry-Based Learning, Lecture Method · Assessed by: Traditional Written Exam, Homework, Project Task, Quiz

WEEKLY PLAN

1. WEEK 1

   Introduction to general concepts of risk

   Preparation: Lecture Notes

2. WEEK 2

   Risk, risk analysis and risk management definitions

   Preparation: Lecture Notes

3. WEEK 3

   Risk Assessment

   Preparation: Lecture Notes

4. WEEK 4

   Probabilistic Risk Assessment (PRA)

   Preparation: Lecture Notes

5. WEEK 5

   Risk Management

   Preparation: Lecture Notes

6. WEEK 6

   Case study about risk assessment and risk analysis

   Preparation: Lecture Notes

7. WEEK 7

   Case study about risk management

   Preparation: Lecture Notes

8. WEEK 8

   Course project teams and topics

   Preparation: Lecture Notes

9. WEEK 9

   Introduction to reliability and reliability engineering

   Preparation: Lecture Notes

10. WEEK 10

    Proactive and reactive approaches to risk, resilience engineering

    Preparation: Lecture Notes

11. WEEK 11

    Case study about resilience engineering

    Preparation: Lecture Notes

12. WEEK 12

    Special topics: Financial risk management

    Preparation: Lecture Notes

13. WEEK 13

    Final Project Presentations

    Preparation: Project Presentations

14. WEEK 14

    Final project presentations

    Preparation: Project Presentations

ASSESSMENT

• Rate of Midterm Exam to Success30%
• Rate of Final Exam to Success70%

WORKLOAD

READING

• Textbook: Reliability Engineering and Risk Analysis, Modarres and Kaminsky Course notes, slides and readings (provided by the instructor)

TEACHING STAFF

• Assoc.Prof. Yasin GÖÇGÜNCOORDINATOR
• Lect. Özgür EROL
• Assoc.Prof. Yasin GÖÇGÜN