An Introduction to Risk Analysis Methods, Tools and Case Studies - Course

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Course summary and learning objectives:
Risk is a situation involving exposure to danger. Risk means the possibility of loss or injury. Risk also means hazard. According to international standards (ISO), risk is the “effect of uncertainty on objectives”. An effect is a positive or negative deviation from what is expected. Risk definitions recognize, that all of us operate in an uncertain world. On the other hand we all want to live and prosper in a world in which, ideally, risk is reduced to zero… This class offers a good overview of modern risk analysis methods, tools and case studies embedded into a lean six-sigma quality framework, supported by many international standards (ISO). We focus on analytical and generic risk reduction methods, tools and technologies, that can be applied to a very large range of products, processes and service systems. In this course we also help learners to create a Risk Management Framework (RMF). This provides a disciplined and structured process that integrates risk management activities into the system development life cycle. We also discuss several USA, European, Asian and Japanese risk analysis examples and use cases. Students in this course will become problem solvers and be able to understand the underlying principles how to reduce risk, as well as apply some of the learned methods, tools and technologies in real-world, practical situations. Since there is some level of risk in every system, the learned methods and tools will be highly beneficial not just to engineers, but also to designers of systems.

Levels offered:
Undergraduate engineering, graduate, and/or professional industrial level for engineering, IS/IT (Information Systems / Information Technology), and/or Management, including MBAs, Master of Business Administration. We also welcome administrators and managers in our programs who are keen to understand and improve systems, any systems, processes, factories, organizations, and others.

What do the instructors want students to be able to do at the end of the course? Instructors want the students to understand the analytical concepts, methods, tools and technologies presented in this course, as well as apply the learned knowledge to solve practical real-world problems.

How students’ abilities will be measured during the course, that will provide reliable evidence that the students are learning?
Every student in this class has to set up their own virtual company on the internet. This can be done for free, using the internet and free software tools. This student authored and controlled web site will act as a knowledge depository and management resource, as well as a communication tool, where students document their assignments during the course. (This open, internet-based, not passworded student created web site is also an excellent portfolio for each student. This is very valuable when looking for a good job.)

How students’ abilities will be measured at the end of this course, that will provide reliable evidence that the students have mastered the subject?
Students in this course are continually assessed. They have to complete several assignments in collaboration with the instructor, as well as other students in the class. Each student works on their own virtual companies, in different assignments, nevertheless the underlying analytical foundation, as well as the educational goals reflect the topic of the class and are the same for every one of them. The collection of these web-documented assignments will be graded by the instructor and this will provide the final grade for the course. There won’t be a final exam, since this is a continually assessed course.

Delivery mode:
The above programs can run in live or in eLearning (i.e. distance learning) mode over the internet.

Duration:
The length of this course can be 1 day executive summary, 3 days introduction, or 5 days more in-depth, advanced level. Also, in cases when universities want to run such programs of study, the duration of the program can be extended to a 15 week long period, about 3 hrs a week group learning and 3 hrs a week independent study (per student), with additional assessment / examination work included. (This will make the course compatible with typical modular USA university / college courses.)

On-line internet support:
This course is supported by an internationally known professional instructor / consultant, including 7 days a week 12 hrs a day email support for 3 months, and optional on-site lecturing / tutoring / consulting (if there is such an arrangement). Please note, that this program of study has a world-class quality interactive multimedia content, that is frequently updated by professionals. This makes this course fresh and up-to-date every time it runs.

Delivery style:
This course is delivered in interactive, informal workshop style over the internet or in live mode, with active learning, with lots of excellent analytical methods and practical industrial case studies using interactive multimedia text, images, videos, optional interactive multimedia eBooks and active code to calculate with. The practical case studies are from the USA, Europe, Asia, Pacific Rim and Japan, offering excellent teaching / learning quality and effectiveness.

Licensing arrangements:
The above courses can also be licensed to be run by third parties, nevertheless these third parties have to be carefully reviewed and certified to do so. This is important to maintain the exceptionally high quality levels of this type of program using various modules of our interactive multimedia resource library (more here http://www.cimwareukandusa.com).

Also note, that we can deliver custom designed programs based on customer requirements. The topics, the level, and the duration, the delivery mode of our modules can be custom designed by a group of learners, or their organizations (i.e. the customers). These custom designed programs can have a mix of the above topics, as well as other, new topics, as required by the customer.

Please note, that we have over 33 years of international professional experience. We are a USA -based group of professionals, and that our programs are continuously updated and expanded based on customer requirements in the USA, Europa, Asia, Africa, and elsewhere.