BSc in Quantity Surveying / Бакалавр в Області Інженера-Кошторисника

Course Details

Course Information Package

Course Unit TitleADVANCED RISK ANALYSIS AND MANAGEMENT
Course Unit CodeAQSE470
Course Unit Details
Number of ECTS credits allocated5
Learning Outcomes of the course unitBy the end of the course, the students should be able to:
  1. Define principles of risk management.
  2. Outline the principles of risk analysis and its applications.
  3. Apply theories and strategies in different situations so that to make informed decisions of the suitability of methods for different situations.
  4. Analyse various risk analysis methods including computer simulations.
  5. Evaluate risk analysis techniques.
Mode of DeliveryFace-to-face
PrerequisitesAMAT300,AQSE370Co-requisitesNONE
Recommended optional program componentsNONE
Course ContentsRisk Management:
Measurement and perception of risk. Models of risk and hazard identification, physical inspection, check lists, flow charts, fault trees, hazard indices.

Risk Analysis:
Principles of risk analysis, moral and physical hazards. Quantitative methods, use of statistical and probability theory. Decision analysis, sensitivity analysis. Simulations, use of computers in risk analysis.

Application and Evaluation of Risk Analysis:
Project evaluation and risk. The risk analysis techniques and management styles of successful real estate entrepreneurs.
Recommended and/or required reading:
Textbooks
  • Boussabaine, H. and Kirkham, R. (2003) Whole Life-Cycle Costing: Risk and Risk Responses.
  • Smith, N. (2003) Appraisal, Risk and Uncertainty.
  • Smith, N. (2001) Managing Risk: In Construction Projects.
References
  • Dickson, G.C.A. (1991) Risk Analysis.
  • Hertz, D.B. & Thomas, H. (1990) Risk Analysis and its application.
Planned learning activities and teaching methodsThe course will be presented through formal theoretical lectures and tutorial sessions in class. Assignments will be given to students on Risk Analysis and on Case Studies Review of Risk Analysis of entrepreneurs. The lectures will present to the student the course content and also allow time for examples, questions and discussion. Notes shall be taken by the students in class during lectures.
In addition, all of the course material will be made available through the class website and also through the university’s own e-learning platform. Finally, the instructor will be available to students during office hours or by appointment in order to provide any necessary tutoring.
Assessment methods and criteria
Assignments20%
Midterm exams20%
Final Exam60%
Language of instructionEnglish
Work placement(s)NO

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