Risk-Conscious Operations Management (RCOM)

Overview

ABOUT THE COURSE:

Risk component is inherent to any engineering or business operational environment and a systematic assessment and management of risk in perpetuality is the requirement of safety assurance. There is a general consensus that operational eco-system is human interaction intensive component and this is the reason human factor is the major contributing factor to risk.

A risk-conscious operations management helps understand not only human but also organizational factors responsible for human error. This course is design to understand not only the contributing factors but also provide an effective framework for risk reduction in operational management of complex engineering systems.INTENDED AUDIENCE:

Anyone with a BE/BTech having done a UG level course on control theory, or with an MSc in mathematics having done courses on dynamical systems can go through this course.PREREQUISITES:

B.Tech. in any engineering disciplineINDUSTRY SUPPORT:

Any company that does control systems design:

aerospace, robotics, chemical processes, etc. should value/recognize this online course.

For example, Eaton, Honeywell, GE, ABB, etc.

Syllabus

• Introduction to Risk-Conscious Operations Management
Definition and Importance of Risk Management in Operations
Human and Organizational Factors in Risk
• Fundamentals of Risk Assessment
Identifying Risk in Operational Environments
Quantitative and Qualitative Risk Analysis Methods
• Human Factors in Risk
Human Error Types and Causes
Techniques for Mitigating Human Error
Case Studies: Human Factor Failures
• Organizational Factors in Risk
Organizational Culture and Risk
Communication and Risk Management
Leadership and Decision-Making in Risk Environments
• Risk Reduction Frameworks
Developing a Risk Management Framework
Integrating Risk Management into Operations
Risk Monitoring and Response Strategies
• Control Systems and Risk Management
Role of Control Systems in Managing Operational Risks
Designing Risk-Resilient Control Systems
• Tools and Technologies for Risk Management
Software and Simulation Tools for Risk Assessment
Emerging Technologies in Risk-Reduction
• Case Studies in Risk-Conscious Operations Management
Analysis of Real-World Incidents
Best Practices in Industry
• Application of Risk Management Strategies
Industry Specific Applications: Aerospace, Robotics, Chemical Processes, etc.
Implementing Risk-Conscious Strategies in Projects
• Conclusion and Future Trends
Future Directions in Risk-Conscious Operations Management
Continuous Improvement and Innovation in Risk Management
• Assessment and Evaluation
Assignments and Projects
Discussions and Presentations

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Taught by

Prof. Prabhakar V Varde

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Subjects

Business