Texas A&M University 3 credits CVEN
Identifies causes of risks in projects; discusses probabilistic description of risks and formulation of risk models; Bayesian methods for revising probabilities; qualitative and quantitative risk assessment; setting contingencies on budgets and schedules; risk mitigation and risk management; handling technological risk; Utility theory and game theory in management of risks. Prerequisites: (s): STAT 601 or equivalent; graduate status in Engineering, approval of instructor.
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