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RISK5002 Risk Analytics
Final Exam Details and Revision
Final Exam Details Final Exam Format: Open-book, limited-time, online exam Date: Wed, 4 May, 10 am – 12 noon (Sydney time) Time allowed: 2 Hours Includes time for reading, uploading, etc. Coverage: All topics Lecture slides, guest lecture slides, tutorial questions, weekly discussion questions 5 discussion/calculation questions: 50 points in total Access: via Moodle Use Exam paper to answer questions Upload via Turnitin: only one attempt allowed Please read the “Final Exam” section on Moodle You are expected to adhere to the Student Code of Conduct, which explicitly lists plagiarism and exam cheating as breaches of your responsibility to “Act responsibly, ethically, safely and with integrity”. Cheating in Final Exams Cheating during a Final Exam (e.g., by discussing questions with other students) is considered student misconduct and typically results in penalties much more severe than “regular plagiarism”. Such penalties can include failing a course with a grade of 0. Please read the Student Exam Declaration carefully! You will submit your final exam via Turnitin • This checks your exam against other submitted exams and websites Student integrity Revision Course Schedule Topic 1: Risk Assessment Part 1 Lecture: 1. Introduction to ISO 31000 2. Risk in ISO 31000 3. RM in ISO 31000 Tutorial: Risk definition, risk management process and risk assessment in ISO 31000, 2 cases studies (Restart Risk Model, City of Port Phillip) Discussion Question 1: Introduction and principles of risk management in ISO 31000 Topic 2: Risk Assessment Part 2 Lecture: 1. Recap of ISO 31000 2. ISO 31000:2018 vs. COSO 2017 3. Introduction to IEC 31010 4. Plan Risk Assessment 5. Risk Identification 6. Risk Analysis 7. Risk Evaluation 8. Report on Risk Assessment Tutorial: Risk assessment based on IEC 31010, HAZOP, risk identification, documentation of risk assessment Discussion Question 2: Risk assessment techniques in IEC 31010 Topic 3: Risk Matrices and Risk Maps Lecture: 1. Risk Matrices 2. Risk Maps 3. F-N Diagram Tutorial: risk matrix example, limitations of risk matrices, F-N diagram, tornado diagrams
Topic 4: Scenario Methods Lecture: 1. Introduction to Scenario Analysis 2. Scenario Trees 3. Delphi Technique Tutorial: Fault tree analysis, event trees, scenario analysis, Delphi technique
Topic 5: Cyber risk assessment Lecture: 1. Cyber risk management based on ISO 31000 2. ISO/IEC 27000 series and NIST 3. Cyber risk assessment tools 4. How to submit video assignment 5. Guest lecture by Jason Brown Tutorial: Beach and Attach Simulation Questions related to guest lecture: CIA triangle, cyber vulnerabilities, ALARP Discussion Question 5: Scope of cyber risk assessment Topic 6: Human Reliability Analysis Lecture: 1. Human factors in ISO 31000 and ISO 31010 2. Human reliability analysis 3. Other techniques 4. Human factors engineering & the systems design Tutorial: Human error task analysis, probability tree, cause and effect (fishbone) diagram, fault tree analysis Discussion Question 7: Summary of mandatory reading Topic 7: Environmental Risk Assessment Lecture:
Guest lecture by Jackie Wright: role of chemicals, dose response curves, toxicology, toxicological risk assessment Tutorial: Exposure analysis, Conceptual Site Model, dose response curve, toxicological risk assessment in IEC 31010 Discussion Question 8: Toxicological risk assessment for real-world example Topic 8: Dealing with Extremes Lecture: 1. Extreme Risk: Definitions and Examples 2. Extreme Risk: Related Concepts 3. Extreme Risk: Assessment Tools Tutorial: Extreme risk definition and characteristics, catastrophe models, resilience, extreme risk assessment techniques Discussion Question 8: Summary of catastrophe models for IEC 31010 Topic 9: Risk Intuition, Perception and Outrage Lecture: 1. Risk and Human Intuition 2. Risk Perception and Outrage 3. Risk Communication No tutorial for Topic 9 Discussion Question 9: Risk communication for Woollahra development 16 Ask all you questions!
Risk Decisions provides a systematic, quantitative, and visual approach to addressing and evaluating important choices confronted by decision makers. They enable individuals and organisations to make better decisions by using a variety of Decision Analysis tools. This course introduces Decision Analysis procedures, techniques, and tools which enable individuals and organisations to make better decisions by assessing all relevant information and evaluating decision outcomes to aid in the decision-making process. It focuses on the application of these structured approaches to developing solutions to decision problems involving uncertainty and multiple objectives. The course covers Decision Analysis tools used to model decisions, uncertainty, and preferences, including Decision Trees, Influence Diagrams, Sensitivity Analysis, Bayesian Networks, and Monte Carlo Simulation. It also covers the Decision Analysis approaches to incorporating risk attitudes in decision making and using Multi-criteria Decision Analysis.