OS4010 Engineering Risk Benefit Analysis

This course emphasizes three methodologies, Decision Analysis (DA), Reliability and Probabilistic Risk Assessment (RPRA) and Cost-Benefit Analysis (CBA). The course is designed to give students an understanding of how these diverse topics can be applied to decision making process of product design that must take into consideration significant risk. The course will present and interprets a framework for balancing risks and benefits to applicable situations. Typically, these involve human safety, potential environmental effects, and large financial and technological uncertainties. Concepts from CBA and RPRA are applied for real world problems resulting in decision models that provide insight and understanding and consequently leading to improved decisions. Prerequisites: None.

Lecture Hours

3

Lab Hours

2

Quarter Offered

  • As Required