Upon successful completion of the course, the student will be able to:

• Recall basic principles of statistics and data analysis and decision making
• Recognize decision-making criteria and the concept of risk in project planning and management as well as the concept of cost/benefit analysis
• use appropriate software in decision-making
• Assess environmental risk
• Manage projects with environmental policy criteria
• Analyse environmental data

• Review, analyze and synthesize data and information, with the use of necessary technologies
• Decision making
• Work in teams
• Design and management of environmental engineering works/projects

1. Elements of probability and statistics, Bayes theorem, Discrete and Continuous Theoretical Probability Distributions, Statistical data analysis, Uncertainty of estimates.
2. Decision trees. Extending the calculation of the cost of pollution by adding the loss of value of a good.
3. Bayesian Decision Making Theory (prior and posterior distributions). Hazard and Bayesian optimal decision.
4. Sensitivity analysis and influence of number of samples on decisions.
5. Use of the loss function in promoting environmental policy. Economic value of information. Repentance and loss of opportunity.
6. Correlation of risk and cost/benefit analysis
7. Environmental risk (pollutants and permissible exposure limits - practical applications).
8.  Risk analysis of hydrological projects and processes.
9. Risk analysis using spatial analysis.
10. Introduction to Game Theory for water resources management.
11.  The integration of data and qualitative information in decision-making.
12. Decision-making criteria (minimax, maximin), applications in economic and environmental subjects
13. Presentation of Irrigania software for the application of non-fixed-sum game theory (decision-making) in water resources management.

Use of Information and Communication Technology

• Specialized software
• Power point presentations
• E-class support

Assessment Method

I. Written final examination (50%).
- Questions of theoretical knowledge.
- Theoretical problems to be resolved.

ΙΙ. Autonomous assignments (20%).

III. Group assignments (30%).

• Probability Concepts in Engineering: Emphasis on Applications to Civil and Environmental Engineering ALFREDO H., ANG S., TANG W. H.
• SYSTEMIC METHODOLOGY & TECHNICAL ECONOMY, PANAGIOTAKOPOULOS DIMITRIOS