Risk, Reliability and Resilience

Cursus

URL study guide

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Learning Outcomes:
At the end of the course, you will be able to

Use compound Poisson processes and random-walk representations to model and analyze system dynamics in stochastic settings
Compare various options in terms of variability, risk, quality and resilience via the use of stochastic ordering notions
Apply the Cramér-Lundberg model to evaluate insurance risk, as well as extending this to a reinsurance setting
Evaluate the credit risk for financial institutions through the mixed Binomial model
Describe and find an optimal balance between the trade-offs associated with maintenance and repair strategies in terms of system availability, cost and complexity
Evaluate the reliability of multi-component Markovian systems and networks with various degrees of inter-dependencies and redundancy
Construct design strategies to ensure robustness and improve network resilience in the presence of uncertainty

Written examination