Introduction to Risk and Due Diligence

Unit Code: HES6727

Credit Points: 12.5 Credit Points

> Related Course/s
> Teaching Methods
> Assessment
> Aims & Objectives
> Generic Skills Outcomes
> Content
> Reading Materials

Related Course/s:

Aims & Objectives:

• Understand fundamental risk and reliability concepts;
• Apply the safety, economic and legal drivers of risk management requirements;
• Comprehend different organizational risk paradigms and models;
• Recognize the liability and due diligence implications of risk managers, and how they relate to quantified risk management (QRA) techniques; 
• Apply risk modeling and generative information gathering techniques;
• Apply the use of mathematics in risk and reliability analysis;
• Generate safety cases demonstrating due diligence and limiting legal liability; and
• Apply both top-down and bottom-up risk management techniques – and when to use each

Teaching Methods:

On campus lectures, tutorials and case-study workshops

Assessment:

Generic Skills Outcomes:

• Apply risk and reliability concepts and knowledge;
• Identify and manage risk; 
• Skills in systems thinking;
• Ability to work independently;
• Ability to communicate effectively.

Content:

• Risk Management Concepts
• Risk Paradigms
• Risk Management Models
• Liability
• Causation
• Risk Criteria
• Top-down and bottom-up Techniques
• Ranking and modeling Techniques
• Generative Techniques
• Risk & Reliability Maths
• Corporate Governance
• OH&S
• Process Industry
• Finance & Market Risk
• Safety Case Arguments
• Project Due Diligence
• SIL Allocation
•  Availability Profiling

Reading Materials:

Robinson, R.M. (2008) Risk & Reliability: An introductory text, 7th Edition, R2A Pty Ltd.
+ Supplied study materials