European Master and Certification Program
in Risk Engineering and Management

Special risk issues III.

Course code: 161345 (MOD)
Language of instruction: English
Duration of the course: 6 days (54h)
Lecturers: Dr. Chabane Mazri (INERIS - Institut National de l'Environnement Industriel et des Risques), Prof. Dr. Aleksandar S. Jovanovic (Steinbeis Advanced Risk Technologies GmbH), Prof. Dr. rer. pol. Dr. h.c. Ortwin Renn (Universität Stuttgart (ZIRIUS)), Ph.D Knut Øien (SINTEF Technology and Society)
Assessment: Written Exam Transfer Paper [optional topic for Project Study Paper]
Credit points: 5 CPs

Short description

The module looks at two main issues:

  1. Decision making as a process where multiple factors interact to shape the final outcome. Those factors can be technical, informational, emotional/psychological, cultural… Nevertheless, the limited rationality of economic operators makes the decision exercise more and more difficult in a more and more complex world. Safety management requires short, mid and long term decisions that may highly influence the ability of the organization to cope with its risks.
  2. The Key Performance Indicators (KPIs) as used in the safety and risk assessment, in particular for assessing and managing emerging risks linked to New Technologies. Main concepts developed by organizations like OECD, API, HSE/HSL, CCPS or VCI are presented in detail. Application of these and other concepts, as well as the corresponding guidelines, are discussed in the second part of the course, where also the practical aspects of these applications, including tools and practical views from industry on the use of indicators are presented and discussed.


3.1. Knowledge

The knowledge acquired at the will help managers when dealing with their complex environment, decision aid approaches can be implemented in order to:

  1. allow a better understanding of the decision context, stakes and possible consequences
  2. elaborate a formal description of the problem to be resolved and the stakeholders to involve
  3. develop mathematical based models and tools that help decision making including multicriteria approaches and KPIs definition
  4. develop validation and uncertainties management approaches for decision making.

3.2 Skills

At the end of the course, students are expected to have basic skills needed for:

  • Better understanding of main descriptive and prescriptive concepts related to decision making in risk management
  • Better vision of the key decision making moments of risk management frameworks
  • Better global vision of the tools available to improve the way managers are dealing with decision making.

3.3 Competences

Competences expected to mastered are those needed for a member of teams dealing with:

  • Introduction to the KPI concepts
  • Examples of application
  • Exchange of experiences in using KPIs

Course Content by Units



  1. Introduction to decision making in risk management
  2. Reference models
  3. Methods and tools

  • Present how decision making may shape the way organization deals with risk. Through the study of various risk management frameworks (IRGC, ISO31000).
  • Stakes and challenges associated to those critical phases will be highlighted
  • A global presentation of the way decision making is considered through different disciplines and theoretical frameworks. At the end of this second phase, the students will develop a good overview of the reference models and theories related to decision making
  • Multicriteria approaches like ELECTRE and Multi Attribute Utility Theory.
  • Methods to elaborate and choose Key Performance Indicators for risk management.
  • Uncertainties management in decision making

Teaching Methods

The course:

  • is illustrated by number of examples;
  • presents commonly used methods and tools and
  • provides exercises and preparation for the final exam.


BOUYSSOU, D. at all (2000) Evaluation and decision models. A critical perspective. Kluwer Publishers.

BOUYSSOU, D. at all. (2006); Evaluation and decision models with multiple criteria. Stepping stones for the analyst. Springer

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: VF, generated on September 25, 2021)