swinburne rsk80007 quantified risk modelling case study that explains the risk

Question:
Your task is to develop quantifified Risk models of two Risks of interest to you. This is an academic exercise and its purpose is to make you familiar with the process of quantifified Risk modelling and to show me you understand the theory and the practice.
Write up each Risk as a case study that explains the Risk in detail and describes the proposed control measures.
Estimate/judge the values that could realistically be given to the various parameters relevant to modelling Risk and explain your reasoning to me. Dont spend inordinate amounts of time trying to justify any of the values that have to be estimated/judged in order to complete the task (eg. does a death cost $3M or is it $3.2M? Is the Exposure 20 times a year or 18?). However,ensure that you do have justifification for the values you use as I am not interested in you simply using a number with no justifification.
Use your spreadsheet to estimate the position of the Risk line, using any necessary reality checks. In other words, justify or even make a clear statement of the inadequacies of what you have done and the need for further investigation. Estimate the Risk value.

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