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Risk Analysis for Engineers

Engineering systems are becoming more complex, interconnected, nonlinear, geographically widespread, and expensive. Consequences of failures of such systems are exceedingly damaging and destructive to humans, environment, and economy. Therefore, successful engineering project management is required for risk identification and development of mitigation techniques. System uncertainty is reduced when project risks are identified, quantified, and mitigation strategies implemented.

This course focus on how risk analysis, management principles and techniques can be applied to engineering projects. A range of risk analysis techniques, which are put in the context of engineering projects and analyzed using the framework of the risk standard, are introduced here.

The subject is of relevance to students, researchers, and practitioners who are wishing to establish a career in Engineering management but is also of relevance to a range of engineering design disciplines where design for the total life cycle of the product or infrastructure should be considered.

Course Highlights:

  • Introduction to risk and reliability
  • Risk assessment and risk management
  • Uncertainty concept
  • Review of probability theories
  • Analytical techniques in uncertainty analysis
  • Safety factor and safety margin
  • Reliability index
  • Reliability analysis of complex systems
  • Monte-Carlo simulation
  • Hit and Miss method
  • Variance reduction techniques

Course Benefits:

  • Identify information sources and risks for engineering projects
  • Identify and develop a plan for managing risks and opportunities
  • Use statistical methods to analyze empirical data and develop a risk-based simulation model
  • Use simulation and Engineering Reliability techniques to predict the occurrence of failures of engineering projects
  • Implement a risk management framework including risk identification, risk evaluation in conjunction with uncertainty analysis
  • Ability to apply knowledge of science and engineering fundamentals for risk assessment

Course typically offered: Online and in-class, Spring and Summer Quarters

Prerequisites: Calculus I and Calculus II or equivalent knowledge

Next steps: Upon completion, consider additional coursework in engineering or related subjects

Contact: Please email us at if you have any questions

Course Number: ENG-40024
Credit: 3.00 unit(s)