Mediaspace scheduled maintenance: Aug 25, 2026 07:00 - 12:00 AM. During this time, videos will be temporarily unavailable. Check status updates.

Lecture

Risk Analysis and Management

In course

HUM-432: How people learn: Designing Learning Tools I

The students will understand the cognitive and social factors which affect learning - particularly in science and engineering. They will be able to use social research techniques as part of the design process to understand end users. ...

Description

This lecture covers the importance of risk assessment in projects, the use of risk assessment matrix, and the integration of risk analysis into written reports. It also discusses common risks in projects, risk management process, and risk response strategies.

Instructors (2)

Roland John Tormey

I am a sociologist and learning scientist researching and teaching on engineering education. I'm particularly focused on the roles of emotion and self-regulation in engineering teaching and learning. My profile is accessible here.

Nihat Kotluk

Dr. Kotluk is currently a post-doc at the EPFL. He focuses mainly on emotions in the decision-making process, moral reasoning, and ethics in Engineering Education. He also works on equality and diversity issues. He has an academic background in both STEM and social sciences. Dr. Kotluk has acquired advanced skills in education, inclusive pedagogy, and science teachers' training. He has 14 years of teaching experience and has trained high school students in physics and teachers in pedagogy and research methods, among others. Dr. Kotluk has strong teaching and learning communication skills. He holds a Ph.D. in Educational Science, Curriculum, and Instruction. In his thesis, he studied the perceptions and practices of educators in culturally relevant pedagogy and developed recommendations to put more emphasis on inclusion in pre-service teacher education. With his research, he opened a new discussion in the academic community in Turkey and internationally. In his recent work, he analyzes the educational challenges facing refugee communities and other marginalized groups. In the study, he focused on whether and how teachers implemented the principles of culturally relevant and sustaining pedagogies and the challenges teachers faced while trying to implement these principles with Syrian students in Turkey. In his more recent work, he has studied moral emotions, moral reasoning in engineering ethics, and equality and diversity issues in engineering education. His teaching and research interests include emotions in engineering education, culturally responsive STEM education, equity and diversity in education, and multicultural education.

Official source

Related concepts (11)

Risk management

Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

Risk assessment

Risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences. More precisely, risk assessment identifies and analyses potential (future) events that may negatively impact individuals, assets, and/or the environment (i.e. hazard analysis).

Risk

In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is "effect of uncertainty on objectives".

Risk matrix

A risk matrix is a matrix that is used during risk assessment to define the level of risk by considering the category of probability or likelihood against the category of consequence severity. This is a simple mechanism to increase visibility of risks and assist management decision making. Risk is the lack of certainty about the outcome of making a particular choice. Statistically, the level of downside risk can be calculated as the product of the probability that harm occurs (e.g.

Probabilistic risk assessment

Probabilistic risk assessment (PRA) is a systematic and comprehensive methodology to evaluate risks associated with a complex engineered technological entity (such as an airliner or a nuclear power plant) or the effects of stressors on the environment (probabilistic environmental risk assessment, or PERA). Risk in a PRA is defined as a feasible detrimental outcome of an activity or action. In a PRA, risk is characterized by two quantities: the magnitude (severity) of the possible adverse consequence(s), and the likelihood (probability) of occurrence of each consequence.

Related lectures (44)

Risk Perception: Understanding Society's Perception of Risk

Delves into society's perception of risk, risk estimation, residual risk, and safety culture.

Financial Risk Management: Concepts and Applications

Covers the fundamentals of financial risk management, including types of risk, historical developments, regulatory events, and the challenges in quantitative risk management.

Risk Resilience: Introduction to Resilience Engineering

Introduces the concept of risk resilience and the principles of Resilience Engineering, emphasizing the importance of proactive risk management strategies.

Quantitative Risk Management: Risk Measures

Covers risk measures used for determining risk capital and capital adequacy.