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Civil Engineering Dept. Master Program. Infrastructure planning and management. Lecture(12). 2013-2014. Risk & Uncertainty Definition.

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Infrastructure planning and management


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    1. Civil Engineering Dept. Master Program Infrastructure planning and management Lecture(12) 2013-2014

    2. Risk & Uncertainty Definition “Risk” and “uncertainty” are two terms basic to any decision making framework. Risk can be defined as imperfect knowledge where the probabilities of the possible outcomes are known, and uncertainty exists when these probabilities are not known (Hardaker).

    3. Project risk management definition The PRM process is defined as “the process of taking management action in order to respond appropriately to all identified risks to maximise the likelihood of the project meeting its objectives within its constraints, by monitoring risk exposure and adjusting project strategy to keep risk within acceptable levels”

    4. Project risk management process • Risk identification • Risk Analysis - Qualitative risk analysis - Quantitative risk analysis • Risk mitigation • Risk Monitoring and follow up

    5. Selection of parameters for Risk analysis

    6. Accounting for Unforeseen Changes and Events

    7. Uncertainties in Water Resources Management

    8. Environmental Risk Assessment and Management

    9. Environmental Risk Assessment and Management

    10. Management of Water Quantity and Quality

    11. Modeling and decision making processes in water resources management

    12. Modeling and decision making processes in water resources management Stochastic variation of the water level in a reservoir.

    13. Effective Decision-Making process

    14. WORKSHOP Risk analysis for wastewater pumping station (Group(A)) Risk analysis for landfill design (Group(B))

    15. Thanks for your attention!