Term
Fall 2025
Duration
16 weeks, Live Online
Price
Non-Refundable Application Fee: US$90
View Tuition and Fees for Tuition Rates
Admission
Apply online via EngineeringCAS. Priority application deadlines by term: November 15 (Spring); July 15 (Fall); March 15 (Summer)
Course Description
Risk assessment and management is the identification, analysis, and prioritization of risks; as well as the coordinated treatment of risk to prevent, minimize, monitor, and control the probability and/or impact of undesirable events and consequences. This graduate course covers the principles and applications of risk assessment and management in the context of engineering management and systems engineering. This course is about the systematic approach to the management of risk as applied to engineering, operations, and management decisions. Students will be prepared to function in a business environment, developing an awareness of the challenges, the tools, and the process of designing and implementing risk assessment and management strategies. In addition to specialized topics in risk, this course will also discuss topics in statistics, decision science, supply chain management, project management, and other fields related to managing risks, in order to provide relevant basis to the methodological development of the risk body of knowledge
Semester Credits: 3
Prerequisites: None
Location: Global Campus
Course meets at times posted via web conferencing software.
Gain Expertise in
- Fundamentals of Risk
- risk identification
- risk analysis
- risk management
- Risk Tools and Techniques
- Systems Approach
- Taxonomy based, risk breakdown structure
- , HHM, SWOT, root cause analysis, influence diagram
- Risk Tools and Techniques
- PHA, HAZOP, JSA
- Risk Matrix. Risk Index and Risk Ranking
- Risk Tools and Techniques continued
- FMEA, FTA, CCA
- ALARP
- Application of Risk Tools and Techniques
- Fundamental risk treatment strategies
- Risk treatment process
- Performance Monitoring and Review
- ISO 3100
- APPLICATIONS: Quantitative Analysis
- Decision Making Under Uncertainty
- Decision Trees
- Monte Carlo Simulation
- APPLICATIONS: Project Risk Management
- APPLICATIONS: Supply Chain Risk Management
- SPECIAL TOPICS: Risk and TOC, Anti-fragility
- Application of Risk Treatment Strategies, performance monitoring, and review
Course Objectives
- Students will acquire an in-depth understanding of the fundamentals of risk assessment and management.
- Students will be able to apply risk management strategies and techniques to the design and management of engineering and technology systems.
- Students will recognize advanced applications and new research in risk assessment and management.
Learning Outcomes
- L1. Identify and categorize the various risks faced by an organization;
- L2. Conduct a realistic assessment of those risks with respect to the organization’s risk criteria
- L2. Explain the various risk control measures available and select the most appropriate actions with respect to risk trade-off functions;
- L3. Communicate risk and risk management plans to the organization
- L4. Document, update, and evaluate risk management plans and implementation
- L5. Through case studies and applications, learn how various industries tailor risk management in real-world context
Lectures are live and interactive
Delivered 1x/week—early evening
Each live session is recorded
Instructor
Explore the Curriculum Further
To find out more, please fill in the form or email etm@wsu.edu.
By submitting your details, you are granting WSU Engineering and Technology Management permission to contact you and acknowledge Washington State University’s Privacy Notice.