European Master and Certification Program
in Risk Engineering and Management

Risk Management and Innovation

Course code: 161323
Language of instruction: English
Duration of the course: 33 days (297h)
Lecturers: Chemical Engineering Flor Angela [EU-VRi] Quintero (European Virtual Institute for Integrated Risk Managment)
Assessment: P Transfer Paper
Credit points: 10 CPs

Short description

This module is devoted to risk related to the development of new products and technologies. The success of the new technology does not lie just in the invention part or in the generation of innovative ideas, but in the successful management of the innovation process from an idea to products and services in the market. The module continues with safety management as it requires short, mid and long term decisions that may highly influence the ability of an organization to cope with its risks. The issue of Key Performance Indicators (KPIs), as used in the safety and risk assessment, is addressed in particular for assessing and managing emerging risks linked to New Technologies. There is an emphasis 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.


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

-master the basics of KPI concepts

-have an overview of the main descriptive and prescriptive concepts related to decision making in risk management

-have a vision of the key decision making moments of risk management frameworks, as well as available tools to improve the way managers are dealing with decision making

-Understand the management process of innovation and the concept of open innovation

-are comfortable with the aspects of subcontracting in the innovation process

-Understand the aspects of involving the end-users in the innovation process


Target Attendees / Participants

Students of Steinbeis Master of Risk Engineering and Management program and similar programs

Course Content by Units

ISO 31010:
-Overview on methods
-Classification of methods
-Selection criteria of methods
-Examples of selected methods
-Conversion of Risk assessment techniques

Definition and overview of KPIs, Guidelines, Examples of application, tools and techniques

Introduction to decision making in risk management, Reference models, Methods and tools

Innovation steps

Conventional and alternative innovation processes

Risk Assessment methodology and selection process

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
  • Presentation made by the student


Defined in the courses

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 or phone +49 711 1839 781 or +49 711 1839 647
(Course profile ID: V, generated on September 24, 2021)