Module code: ENB6011-B
Every organisation faces the risk of unexpected, harmful events that can readily result in catastrophic failures, including financial, legal, societal and reputational losses. Risk management is the identification, evaluation, and prioritisation of risks followed by a coordinated sequence of preventive and remedial actions to minimise, monitor, and control the probability or impact of such events or to maximize the realisation of opportunities. Threats can stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, human error, accidents and natural disasters, IT security threats and data-related risks. Risk management enables a company establish procedures to avoid such potential threats, and minimise their impact should they occur. This module will enable students to acquire a deep understanding of the concepts, principles and tools of Risk Assessment and Management (RAM) and apply them in a range of engineering applications. Download the PDF for ENB6011-B_2024_5.pdf