Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should have developed a sound basic understanding of the concepts and applications of systematic risk analysis.
Synopsis Topics include the need for risk analysis and the costs involved; the nature of risk and human behaviour; the nature of exposure to risk including property, earnings, personnel and legal exposures; the range of risk identification and measurement techniques most commonly used in industry including: physical inspections, check lists, organisation charts, flow charts, hazard and opposability studies, fault trees, hazard indices and analysis of contracts; fundamental statistical analysis including the use of probability calculations and simulation models; the importance of risk analysis, reports and the techniques of report writing.
Assessment Three minor assignments: 10% each + Major assignment: 30% + Examination (3 hours): 40%