CMGT 562 Engineering Risk Management
Provides engineering and construction managers with an understanding of predicting, identifying, assessing, managing and communicating risk for engineering projects. Entails a fundamental review of probability and statistics practices so that they may be applied toward the study of risk, risk identification, risk assessment, risk evaluation, and risk management. Examines definitions, arguments and approaches from a variety of sources. To reinforce lectures, uses real world engineering examples from the defense, energy, and information technology industries where managers are forced to manage risk. Technical skills learned will encompass risk-based priority modeling, economic monetary value analysis, Bayesian revision, utility analysis, safety analysis, risk assessment, and risk management.