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Quantitative Risk Modelling

2014 unit code: RSK80007 (formerly HES6740)

Please note that unit codes have changed from 2014.
Credit points12.5 Credit Points

1 Semester
Contact hoursEquivalent to 36 hrs contact time or 150 hrs total study time

Related course(s)

A core unit of study in the

Aims and objectives

The aim of this unit is to develop the student's understanding of the principles of quantified risk analysis, including that of the analytical methods used and the mathematical principles of quantification and to develop skills in the development and quantification of fault tree and outcome trees.

Teaching methods

Distance Education via Blackboard and email


Three Individual Assignments (worth 100%)

Generic skills outcomes

On successful completion of this unit, students will:
  • Understand the theory behind the development and quantification of risk models 
  • Have the ability to construct risk models 
  • Apply probability estimates to risk models using mean values
  • Incorporate uncertainty of probability estimates in a risk model


Topics include: A review of descriptive statistics, probability theory and Boolean algebra, reliability mathematics, the theory and practice of quantified risk analysis.

Reading materials

Sutton, Ian (2007) Fault Tree Analysis, Sutton Technical Books, Houston, Texas, USA Viner D (1991) Accident Analysis and Risk Control (available from the Swinburne University Bookshop).