IND2904

Risk analysis ( 4 points, SCA Band 2, 0.083 EFTSL)

Leader: J W H Price

Offered:
Caulfield Second semester 2005 (Day)

Synopsis: Risk includes diverse threats such as accidents, projects not achieving their objectives and sabotage. The unit describes these risks, the role they play in business and society and how they can be assessed and controlled. The methods of defining systems that are subject to risks and identifying the various sequences of events which might lead to undesirable consequences are described. Risk reduction is achieved by reducing the frequency of initiating events, developing reliable means of protection and mitigating the consequences. The mathematical methods of determining the frequency of various event sequences and their consequences are introduced.

Assessment: Assignment and class work: 30% + Examination (2 hours): 70%

Contact Hours: 2 hours lectures and 1 hour tutorial/computer class/seminar per week

Prohibitions: IND2903