The goal of the course is for the student to be able to practically apply the basics of risk theory, having mastered the areas of risk identification, analysis and assessment, as well as decision-making based on these facts, both in industrial systems and in software testing and calibration.

Upon completion of the course, the student is able to: a) recognize/describe and understand the basic concepts, models and methods of risk theory; b) applies risk-based methods; c) apply RBI (Risk Based Inspections), RIMAP (Risk Based Maintenance Procedures) and RCM (Reliability Based Maintenance Models) models in practice and, d) apply software reliability assessment models and e) select/propose appropriate mitigation solutions risks. Upon successful completion of this course, students are able to choose an adequate method according to the objective, collect the original data needed for the application of certain risk management methods, implement the methodological procedure of a certain method, process the results, critically consider them and make decisions about risk mitigation depending on the results obtained.

1. Concept and importance of risk theory. 2. Basic concepts of security and risk analysis. Application of probability theory and statistics in reliability assessment and risk analysis. 3. Risk management methods and techniques. 4. Qualitative and quantitative risk assessment. 5. FTA, ETA, FMEA, HAZOP, RGM, BBN, Test, HRA, Markov and other industrial system/software risk assessment models using appropriate software. 6. Risk-based maintenance procedures for industrial systems. Risk assessment at the workplace and in the working environment. 7. Risk management standards. Risk and insurance. 8. Application of risk theory in domestic industrial practice.

Collection and systematization of data collected in companies/in the field. Evaluation of data on individual risks. Calculation of the probability of an adverse event. Preliminary evaluation of possible scenarios of consequences. Calculation of individual risks. Risk matrix. Application of risk management models, methods and techniques. Detailed analysis of one or more selected scenarios, including probabilistic analysis. A detailed technical analysis of the possible consequences of different scenarios. Overall analysis of possible consequences and analysis in terms of insurance and reinsurance.

Student enrolled to semester

M. Rausand, S. Haugen, Risk Assessment Theory, Methods, and Applications, 2nd Edition, JohnWiley & Sons, Inc. 2020; D. J. Smith, Reliability, maintainability and risk: practical methods for engineers - 10th Edition. Butterworth-Heinemann, 2021

Total assigned hours: 65

New material: 18
Elaboration and examples (recapitulation): 12

Auditory exercises: 20
Laboratory exercises: 0
Calculation tasks: 0
Seminar paper: 0
Project: 0
Consultations: 0
Discussion/workshop: 0
Research study work: 0

Review and grading of calculation tasks: 0
Review and grading of lab reports: 0
Review and grading of seminar papers: 0
Review and grading of the project: 5
Test: 5
Test: 0
Final exam: 5

Activity during lectures: 0
Test/test: 30
Laboratory practice: 0
Calculation tasks: 20
Seminar paper: 0
Project: 20
Final exam: 30
Requirement for taking the exam (required number of points): 30

Material and excerpts from lectures and exercises; M. Rausand, S. Haugen, Risk Assessment Theory, Methods, and Applications, 2nd Edition, JohnWiley & Sons, Inc. 2020; D. J. Smith, Reliability, maintainability and risk: practical methods for engineers - 10th Edition. Butterworth-Heinemann, 2021