European Master and Certification Program
in Risk Engineering and Management

XI
Special issues I

Course code: 161335
Language of instruction: English
Duration of the course: 17 days (153h)
Lecturers: Lic.Tech Pertti Auerkari (VTT Technical Research Centre of Finland), Prof. Dr. Aleksandar S. Jovanovic (Steinbeis EU-VRi GmbH)
Assessment: Transfer Paper [optional topic for Project Study Paper]
Credit points: 5 CPs

Short description

The module highlights the topics related to emerging risks and introduces and transfers knowledge on emerging risks, and management of emerging risks. It presents the basic theory for safety and reliability analysis. The starting point is definition and discussion of basic concepts related to reliability and risk analysis. Then qualitative techniques like functional analysis, FMECA and identification and evaluation of faults and hazards are introduced. The next step is to introduce familiar quantification techniques like reliability black diagrams, fault- and event tree analysis, and Markov methods. Special attention is paid to safety-critical systems (IEC 61508) where analysis of systems with common cause failures is important. The course ends with methods for estimation of failure rates and a survey of reliability data sources.

Objectives

The module aims to provide:

Knowledge: The module shall give a thorough introduction to basic concepts and approaches related to analysis and evaluation of safety and reliability of technical equipment – with a special focus on equipment that is used for production and distribution of energy.Moreover, they should be familiar with the concept of "emerging risks" and the related frameworks, procedure and factors.

Skills: The attendees shall be able to identify and assess failures of single units and of complex systems. They shall be able to assess which parts of a system that are of special importance to prevent system failures. They shall further be able to apply different methods to determine the reliability of single items and complex systems, and identify the pros and cons related to each method. They should be familiar with the issues of early recognition, classification and monitoring of emerging risks, and know how to handle the application of data mining and web semantics.

General competence: The attendees shall learn to understand the importance of safety and reliability in relation to applications within production assurance, quality, risk, environmental protection, and sustainable development. They shall, in addition, gain an understanding of the relationship between costs/disadvantages and benefits related to different safety measures.

Target Attendees / Participants

University students of Steinbeis European Master Program in Risk Engineering and Management, and similar programs.

Course Content by Units

Definition and discussion of basic concepts related to reliability and risk analysis.

Functional analysis and identification and evaluation of faults and hazards.

System analysis based on FMECA, reliability block diagrams and fault trees.

Quantification of reliability and availability of technological systems.

Measures for reliability importance.

Analysis of repairable systems by Markov methods.

Analysis of safety-critical systems (IEC 61508).

Analysis of systems with common cause failures.

Estimation of failure rates.

Survey of reliability data sources.

Frameworks for emerging risks

Procedure (10 steps) and factors of emerging risks

Methods and tool

Teaching Methods

The basic theoretical contents of the module are presented in lectures these days. Small exercises and group works are used to get familiar with the concepts. The remaining part of the module is based on self-study with supervision from the professor by email. There are mandatory exercises to be conducted as part of the self-study.

Literature

Defined in the courses
For more information about the European Master and Certification Program in Risk Engineering and Management in general, go the Homepage.
For more information about the European Master Program in Risk Engineering and Management in general, go the Master Study page.
To see more courses in the curriculum, go to The curriculum page, or by date and topic go to the Calendar of Courses page.
Contact: via email sti889@risk-technologies.com or phone +49 711 1839 781 or +49 711 1839 647
(Course profile ID: XI, generated on January 15, 2025)