Risk Analysis (P01816)

? Credit Points : 10 ? SCQF Level : 11 ? Acronym : MAT-P-RA

Risk management is becoming an increasingly important subject. Most large organisation now have formal risk management strategies. Risk analysis deals with the assessment and management of the risk from unlikely but costly events. This course will introduce the risk
analysis methodology and give examples of risk management in different areas.

Sources of risk; attitudes to risk; risk ownership; assessing the probability and cost of risky events; frequency based and subjective probability; methods of controling risk; communicating with the public; techniques and examples of risk management in e.g. engineering safety, medicine, law and forensic science, agriculture and the environement, food safety, project management, control of animal and human epidemics.

Entry Requirements

? This course is not available to visting students.

? Pre-requisites : PGs only

Subject Areas

Home subject area

Operational Research, (School of Mathematics, Schedule P)

Delivery Information

? Normal year taken : Postgraduate

? Delivery Period : Semester 2 (Blocks 3-4)

? Contact Teaching Time : 2 hour(s) per week for 10 weeks

Summary of Intended Learning Outcomes

Understanding of approaches to assess and minimize
risk in real life applications. Ability to analyse risks and explain management alternatives in a way appropriate to all those involved.