CW3008 Risk Analytics Syllabus:
CW3008 Risk Analytics Syllabus – Anna University Regulation 2021
COURSE OBJECTIVES:
• To develop a basic understanding of risk assessment and its role within the risk management process.
• To understand risk assessment and its role within the risk management process.
• To differentiate between risk assessment and risk management.
• To develop a basic understanding of how to conduct and evaluate an uncertainty analysis for a risk assessment
UNIT I INTRODUCTION
Introduction, Fundamentals of Risk- Risk Planning, Assessment and Management Process and the Systems Approach-Types of Risk Assessment- Risk, Hazard, Performance and Engineering Risk Assessment.
UNIT II RISK IDENTIFICATION
Preliminary Hazard Analysis (PHA), Hazards and Operability Analysis (HAZOP) – Job Safety Analysis (JSA) – Failure Modes and Effects Analysis (FMEA)- Fault Tree Analysis (FTA), Event Tree Analysis (ETA), Decision Trees- Cause-Consequence Analysis (CCA)
UNIT III RISK PRIORITIZATION & TREATMENT
Preliminary Hazard Analysis (PHA), Hazards and Operability Analysis (HAZOP) – Job Safety Analysis (JSA) – Failure Modes and Effects Analysis (FMEA)- Fault Tree Analysis (FTA), Event Tree Analysis (ETA), Decision Trees- Cause-Consequence Analysis (CCA).
UNIT IV RISK PRIORITIZATION & TREATMENT
Risk Probability and Impact Assessment, Risk Index and Risk Ranking – − Risk Matrix, EV Analysis, Sensitivity and Tradeoff Analysis, Modeling and Simulation- Risk Attitude and Risk Tolerance, As Low As Reasonably Practicable (ALARP)- Avoidance, Separation, Reduction, Transfer, Acceptance- Detection, Control, Response and Recovery- Performance Monitoring.
UNIT V SPECIAL TOPICS AND APPLICATION
ISO3100, Quality and Reliability- Supply Chain Risk Management- Project Risk ManagementPositive Risk/ Opportunities Management- Risk and TOC.
TOTAL:45 PERIODS
COURSE OUTCOMES:
CO1: Identify the core types of project risks.
CO2: Use qualitative and quantitative risk assessment methods.
CO3: Competently use risk simulation techniques
CO4: Use risk analysis tools/methods and work in a group to create a risk management plan based on the ISO 31000:2009.
CO5: Identify a range of risk management issues/challenges and the risks as complex systems cascade and be competent to initiate potential actions in response
TEXT BOOK:
1. Marvin Rausand Stein Haugen , Risk Assessment: Theory, Methods, and Applications, Wiley, 2020.
REFERENCES :
1. Mohammad Modarres , Risk Analysis in Engineering Techniques, Tools, and Trends, CRC Press, 2006.