The following course Risk Analysis is provided in its entirety by Atlantic International University's "Open Access Initiative" which strives to make knowledge and education readily available to those seeking advancement regardless of their socio-economic situation, location or other previously limiting factors. The University's Open Courses are free and do not require any purchase or registration, they are open to the public.

The course in Risk Analysis contains the following:

• Lessons in video format with explaination of theoratical content.
• Complementary activities that will make research more about the topic , as well as put into practice what you studied in the lesson. These activities are not part of their final evaluation.
• Texts supporting explained in the video.

The Administrative Staff may be part of a degree program paying up to three college credits. The lessons of the course can be taken on line Through distance learning. The content and access are open to the public according to the "Open Access" and " Open Access " Atlantic International University initiative. Participants who wish to receive credit and / or term certificate , must register as students.

Lesson 1: What is risk analysis?

Risk analysis is the process of defining and analyzing the dangers to individuals, businesses and government agencies posed by potential natural and human-caused adverse events. In IT, a risk analysis report can be used to align technology-related objectives with a company's business objectives. A risk analysis report can be either quantitative or qualitative. In quantitative risk analysis, an attempt is made to numerically determine the probabilities of various adverse events and the likely extent of the losses if a particular event takes place.

Lesson 2: Formulating decision problems

All projects have risks. It is the job of the Project Manager to identify these risks as part of the Risk Management Planning Process. Risk Identification determines which risks might affect the project and documents their characteristics. Participants in risk identification activities can include the following, where appropriate: project manager, project team members, risk management team (if assigned), subject matter experts from outside the project team, customers, end users, other project managers, stakeholders, and risk management experts. While these personnel are often key participants for risk identification, all project personnel should be encouraged to identify risks. I worked on a project where we used several of these techniques. I will point those out to you in the following sections.

Lesson 3: Statistics for Risk Analysis

The keys to effective risk resolution are early identification, communication, and risk management. All issues and risks must be identified and recorded in one place for easy reference by every project team member. Every user and team member must be aware of outstanding issues and accept ownership for their existence (and possible resolution). Finally, the Project Manager must manage and control the issues through an established documented procedure.
The Project Manager must use a structured approach to resolving issues and problems. By clearly defining the underlying problem (root cause), by identifying alternative solutions, and by objectively evaluating the consequences, the Project Manager can minimize adverse effects on the project.

Lesson 4: Uncertainty and Limited Information

The keys to effective risk resolution are early identification, communication, and risk management. All issues and risks must be identified and recorded in one place for easy reference by every project team member. Every user and team member must be aware of outstanding issues and accept ownership for their existence (and possible resolution). Finally, the Project Manager must manage and control the issues through an established documented procedure.

Lesson 5: Applying decision analysis

There are many examples of complex problems. What is the best location in a state for a maximum security prison? Should a ban on phosphorus that has proven ineffective in improving water quality be lifted? A city council is considering offering tax breaks for developers willing to build offices in certain sections of downtown. Should the mayor veto the plan? The county executive has proposed a $50 million expansion of the metropolitan airport. Should the county board of supervisors support this plan? These problems will be answered: that is, decisions will be made. Even if the decision is to do nothing, it will still have consequences for citizens.

Lesson 6: Technological Risk Assessment

Risk management assessments in IT take on many different forms -- from data risk to project risk. Learn more about managing the risk assessment processes in your IT organization. The goal of a risk assessment process is to minimize the effects of any type of risk -- including data and project risk -- on an organization. IT plays a key role in the risk management process and assessment by using technology initiatives to eliminate any unplanned losses in financial, strategic and operational initiatives.

Lesson 7: Health Risk Assessment

A health risk assessment (HRA) is a health questionnaire, used to provide individuals with an evaluation of their health risks and quality of life.[4] Commonly a HRA incorporates four key elements – an extended questionnaire, a risk calculation or score, and some form of feedback i.e. face-to-face with a health advisor or an automatic online report. The Centers for Disease Control and Prevention define a HRA as: “a systematic approach to collecting information from individuals that identifies risk factors, provides individualized feedback, and links the person with at least one intervention to promote health, sustain function and/or prevent disease.”

Lesson 8: Risk Perception

In the 1960s, a rapid rise in nuclear technologies aroused unexpected panic in the public. Despite repeated affirmations from the scientific community that these technologies were indeed safe, the public feared both long-term dangers to the environment as well as immediate radioactive disasters. The disjunction between the scientific evidence about and public perception of these risks prompted scientists and social scientists to begin research on a crucial question: how do people formulate and respond to notions of risk?

 

Lesson 9: Valuation of Risk

Valuation risk is the financial risk that an asset is overvalued and is worth less than expected when it matures or is sold. Factors contributing to valuation risk can include incomplete data, market instability, financial modeling uncertainties and poor data analysis by the people responsible for determining the value of the asset. This risk can be a concern for investors, lenders, financial regulators and other people involved in the financial markets. Overvalued assets can create losses for their owners and lead toreputational risks; potentially impacting credit ratings, funding costs and the management structures of financial institutions.

Lesson 10: Risk Communication

Crisis and Emergency Risk Communication is an approach to communicating effectively during emergencies. These principles are used by public health professionals and public information officers to provide information that helps individuals, stakeholders, and entire communities make the best possible decisions for themselves and their loved ones. CERC recognizes that during emergencies, we work under impossible time constraints and must accept the imperfect nature of our choices. CERC draws from lessons learned during public health emergencies and research in the fields of public health and emergency risk communication.

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