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Quantitative Risk Modelling

Unit Code: HES6740

Duration

Contact Hours

Campus

Prerequisite

Corequisite

1 Semester

Equivalent to 36 hrs contact time or 150 hrs total study time

Off-Campus

HES6720 Risk Perception and Analysis

Nil

Credit Points: 12.5 Credit Points

Related Course/s:

A core unit of study in the

Graduate Certificate of Technology (Construction Management)

Graduate Diploma of Technology (Construction Management)

Master of Technology Management (Construction Management)

Graduate Certificate in Risk Management

Graduate Diploma of Risk Management

Master of Risk Management

Aims & Objectives:

The aim of this unit is to develop the student's understanding of the principles of quantified risk analysis, including that of the analytical methods used and the mathematical principles of quantification and to develop skills in the development and quantification of fault tree and outcome trees.

Teaching Methods:

Distance Education via Blackboard and email

Assessment:

Three Individual Assignments (worth 100%)

Generic Skills Outcomes:

On successful completion of this unit, students will:

Understand the theory behind the development and quantification of risk models
Have the ability to construct risk models
Apply probability estimates to risk models using mean values
Incorporate uncertainty of probability estimates in a risk model

Content:

Topics include: A review of descriptive statistics, probability theory and Boolean algebra, reliability mathematics, the theory and practice of quantified risk analysis.

Reading Materials:

Sutton, Ian (2007) Fault Tree Analysis, Sutton Technical Books, Houston, Texas, USA Viner D (1991) Accident Analysis and Risk Control (available from the Swinburne University Bookshop).