Fundaments of Risk Analysis (Self Study)

Risk Analysis Fundamentals introduces essential risk analysis concepts and provides the basis for how they can be applied to real world situations where decisions must be made with incomplete or uncertain information. Designed for students to better develop a basic understanding of making decisions with poor and/or incomplete information.

This course presents the fundamentals required to understand risk analysis concepts. It forms a solid basis to explore risk and fault tree analysis in greater depth. This course builds a foundation for making uncertain decisions with confidence.

After completing this course, you should be able to explain fundamental risk analysis concepts and describe the elements of fault tree analysis.

By participating in this course, you will learn how to successfully:

• Analyze the elements of risk and fault tree analysis by accurately describing how each element contributes to system level understanding.
• Evaluate a given risk problem and justify the identified consequence and probability based on the factors contributing to potential failures.
• Construct basic tools to be used in fault tree and risk analysis. 

Who should attend?

This course is designed for anyone tasked with making decisions under uncertainty. It is useful in many positions (e.g., COO, CFO, CEO, manufacturing or process engineer, financial or risk analyst, safety or operations manager) and across many industries (e.g., business, finance, manufacturing, logistics, safety, government).

Course Materials (included in purchase of course)

• Digital course notes via ASME’s Learning Hub
• NU-REG0492 Handbook

Course participants are expected to have:

• Math skills equivalent to those obtained in an Advanced Algebra course.

A Certificate of Completion will be issued to registrants who successfully complete the course by achieving a passing score of 75% or higher on the final exam.