European Master and Certification Program
in Risk Engineering and Management

V-R41: ISO 31010
Principles and Methods of ISO 31010

Course code: 175560
Language of instruction: English
Lecturers: Prof. Dr. Aleksandar S. Jovanovic (Steinbeis EU-VRi GmbH)
Assessment: Defined in the modules

Short description

The course deals with the issues related to practical implementation of ISO/IEC 31010 standard 31010:2009 (codified by The International Organization for Standardization and The International Electrotechnical Commission (IEC)). The standard itself intends to provide support for implementation of the main, ISO 31000 standard, giving principles of risk assessment and the risk management process. The course provides information as to the selection and application of the risk assessment techniques tackled in the standards and gives examples of application of single methods/techniques in engineering, insurance, finances and general risk analysis.

The emphasis of the course is on new and alternative methods (e.g. those expert opinion or big data oriented), which can be used for better identifying the risks and the reason for their occurrence, as well as for better assessing the probabilities and factors determining the consequences.



Objectives

At the end of the course the participant are expected to:

-have an overview of existing risk assessment techniques

-Know how to select and use the risk assessment techniques

-be able to assess a risk for their company/organization

-know how to implement the ISO31000 and ISO31010 norms

-Understand and use the risk management vocabulary

Target Attendees / Participants

The course is intended for:

  • professionals responsible for developing risk management policy within their organization
  • professionals accountable for ensuring that risk is effectively managed within the organization as a whole or within a specific area, project or activity
  • professionals dealing with evaluation of an organization's effectiveness in managing risk
  • developers of standards / guides / procedures / codes of practice that, in whole or in part, set out how risk is to be managed within specific context(s)
  • other professionals (engineers, managers, inspectors, legislators, …) who wish to deepen their knowledge in the field of risk management standardization
  • individuals with no previous experience in the field of risk management standardization, but willing to extend their knowledge and take up new roles in this field within their companies
  • university students of Steinbeis European Master Program in Risk Engineering and Management, and similar programs

Course Content by Units

Overview on methods mentioned in ISO 31010
Unit 1: Classification of methods
Unit 2: Selection criteria of methods
Unit 3: Examples of selected methods
Unit 4: Conversion of Risk assessment techniques
Unit 5: Summary

Teaching Methods

The course includes:

  • introductory note explaining aim and structure of the course, and used methodology as well
  • ex cathedra lecturing illustrated by number of examples
  • review of main topics in the end of each lecturing unit

Literature

  1. Aven, T. (2010). Misconceptions of Risk. Wiley.
  2. International Standards Organisation (ISO), “Risk management — Principles and Guidelines”, 31000, 2009
  3. International Standards Organisation (ISO/IEC), “Risk management — Principles and Guidelines”, 31010, 2009
  4. Kaplan S, Garrick BJ., On the quantitative definition of risk. Risk Analysis; 1(1): 11-27, 1981 at http://onlinelibrary.wiley.com/doi/10.1111/j.1539-6924.1981.tb01350.x/abstrac
For more information about the European Master and Certification Program in Risk Engineering and Management in general, go the Homepage.
For more information about the European Master Program in Risk Engineering and Management in general, go the Master Study page.
To see more courses in the curriculum, go to The curriculum page, or by date and topic go to the Calendar of Courses page.
Contact: via email sti889@risk-technologies.com or phone +49 711 1839 781 or +49 711 1839 647
(Course profile ID: V-R41:, generated on January 15, 2025)