The aim of this course is for students to comprehend the basic principles and practice in applying techniques of decision-making and risk management. After successfully attending the course the postgraduate student should be capable of:
1. Structuring and resolving a single- or multi-criteria decision-making problem with the use of quantitative and qualitative methods.
2. Understanding the notions of risk, uncertainty, utility and reliability.
3. Analyzing the risk management framework through the lens of relative standards, laws and regulations, scientific advances and practical approaches on the field.
4. Implementing the risk identification and qualitative risk analysis processes.
5. Understanding the fundamentals of the quantitative risk analysis process.
6. Structuring decision trees on various types of decision and risk analyses.
7. Using graph theory techniques for decision-making.
Course Content (Syllabus)
The decision-making framework: Structure and analysis. Qualitative and quantitative approaches and methods for resolving single- or multi-criteria decision-making problems. Analysis of the notions of risk and uncertainty. Standards, laws and regulations, scientific advances and practical approaches on the field. Risk management processes: Content and Outputs, Techniques and application examples of risk identification and qualitative risk analysis. Decision trees. Utility theory. Graph theory. Reliability theory.