This course addresses decision making in the face of risk and uncertainty. Various methodologies will be introduced that are useful in describing and making decisions about risks, with particular emphasis on those associated with the design of products. Students will be exposed to issues related to balancing risks and benefits in situations involving human safety, product liability, environmental impact, and financial uncertainty. Presentations will be made of risk assessment studies, public decision processes, and methods for describing and making decisions about the societal risks associated with engineering projects. Topics include probabilistic risk assessment, cost-benefit analysis, reliability and hazard analysis, decision analysis, portfolio analysis, and project risk management.
3 credit hours
This 15 week course requires students to spend approximately 9 hours a week on course work.
- This course is restricted to students in Manufacturing Leadership (MS) and Product Development (MS).
Enrollment restrictions are subject to change. Please contact us for assistance.
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