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Faculty of Engineering and IT
Risk Management in Engineering (49006)
Subject Coordinator and Instructor: Emily Canda
Assessment Task 3 – Quantitative Risk Assessment and Decision Making
1 | P a g e
Assess, evaluate, prioritise, and treat risks in engineering projects and systems
lifecycle
Specification:
Weight 50%
Type Individual
Length Maximum 3000 words including appendices and references for
both Parts A and B
Submission Online through the Turnitin submission link on Canvas
Multiple attempts permitted until the due date
No FEIT assignment submission cover sheet is required
The original files of drawing/modelling need to be uploaded
as well.
Similarity There is no numerical threshold to show a student has
plagiarised or not. The human academic checks for
plagiarism. Turnitin can only indicate where and when a text
appears similar to another text
20% self-similarity to Assessments 1 and 2 is acceptable
Due date Two due dates, refer to the subject calendar
Objective:
Introduction:
To have a thorough understanding of what constitutes engineering risk management
and how theories, concepts, methods, etc. can be employed in industrial practice, this
assignment provides the opportunity for students to put their knowledge into practice by
implementing the quantitative risk assessment and risk-based decision making methods
in the case study investigated in Assessments 1 or 2.
Instructions:
1. Decide a good title for your work considering your case study. Title should accurately
reflect the report’s main idea and its content.
2. Structure your report in an appropriate manner to include sections for introduction,
case study overview, implementation of techniques and results analyses, risk
evaluation and treatments, discussion and sensitivity analysis, and conclusions.
3. Write an introduction including contextualisation, topic importance, case study
introduction, and objectives.
4. You need to follow the order of the techniques in your report: FT, ET, BT, and risk based decision making.
Faculty of Engineering and IT
Risk Management in Engineering (49006)
Subject Coordinator and Instructor: Emily Canda
Assessment Task 3 – Quantitative Risk Assessment and Decision Making
2 | P a g e
5. Implement the techniques in the case study step by step and present the results.
Analyse the results and highlight major findings. Tables and figures should be high quality with adequate explanation:
Develop an FT for the case study, including a table to show events and their
acronyms and failure probabilities, draw the tree using software, and provide
quantifications for the top event likelihood.
Develop an ET for the case study, including a table to show events and their
acronyms and failure probabilities, draw the tree using software, and provide
quantifications for scenarios and consequences.
Connect FT and ET and create a BT, estimate the risk for the main hazard.
Propose some risk reduction strategies and select the best option using one risk based decision making techniue.
6. Please note:
Hand drawing trees are not accepted.
Copying and pasting trees from the literature are not accepted.
If not using Word for drawing trees, you MUST provide the drawing files along with
your submission.
7. Discuss the results and do a sensitivity analysis to make sure the results are reliable.
8. Write a conclusion of what has been done for what purpose and what findings are.
9. All content must be written without grammatical errors and must be fully referenced.
Include references at the end that are consistently aligned with IEEE style.
Marking Criteria
Submission Section Criteria weight
Part A
Introduction
Contextualisation
Importance/Relevance of the
theme
Objective(s)
Report strcuture
5
Case study overview
Enough case study description
including the system boundary,
sub-systems, equipment
Setting the scope for risk
assessment
5
Faculty of Engineering and IT
Risk Management in Engineering (49006)
Subject Coordinator and Instructor: Emily Canda
Assessment Task 3 – Quantitative Risk Assessment and Decision Making
3 | P a g e
Implementation and
results
Correct modelling and quantification:
FTA
ETA
BT
30
Part B
Correct modelling and quantification:
BN
Risk-based decision making
30
Discussion Sensitivity analysis and value added
discussion behind subject materials 15
Conclusions Summarise the work and highlight the
findings 5
Structure and
presentation
Well-structured and well-presented 5
In-text and IEEE style referencing 5
Sum 100