Risk, Reliability and Resilience

Course

Description

Managing risk, ensuring high reliability and building in resilience is critical for many systems and operations in society and technology that are subject to uncertainty, volatility, and potential disruptions. In order to achieve these goals, one typically needs to quantify uncertainty, assess the probability of adverse events, and implement strategies to enhance system dependability. These notions apply to a wide range of fields, such as finance (e.g. managing ruin risk for an insurance company or credit risk for a financial institution), maintenance (maximizing system availability while minimizing expenditure) and vital infrastructure networks (e.g. preventing breakdowns of complex technological systems or blackouts in power grids). In this course, you will study key mathematical concepts and models, together with several techniques and strategies, to evaluate and improve various relevant risk/reliability/resilience metrics. The focus will be on the mathematical analysis of stochastic models accoundting for the inherent randomness in the system as well as possible correlations.
Course period1/09/24 → …
Course levelAdvanced
Course formatCourse