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The Importance of Understanding Systemic Risk in Engineering Management Education

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2012 ASEE Annual Conference & Exposition


San Antonio, Texas

Publication Date

June 10, 2012

Start Date

June 10, 2012

End Date

June 13, 2012



Conference Session

Engineering Management Applications

Tagged Divisions

Engineering Management, Engineering Economy, and Industrial Engineering

Page Count


Page Numbers

25.1314.1 - 25.1314.9



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Paper Authors


S. Jimmy Gandhi Stevens Institute of Technology

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S. Jimmy Gandhi is a faculty member in The School of Systems and Enterprises (SSE) at Stevens Institute of Technology, as well as at Baruch College, which is part of the City University of New York (CUNY). His research interests are in the field of risk management, engineering education and globalization. He got a Ph.D. in engineering management from Stevens Institute of Technology, a master's in engineering management from California State University, Northridge, and a bachelor's degree in engineering from the Illinois Institute of Technology. He is currently co-authoring two books on risk management and case studies in system of systems engineering and is also a member of several professional societies such as ASEM and ASEE, Gandhi is also a Project Manager for the Taproot Foundation.

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Alex Gorod Visiting Fellow, University of Adelaide

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Alex Gorod received his B.S. in information systems, M.S. in telecommunications from Pace University, and Ph.D. in engineering management from Stevens Institute of Technology. Prior to his graduate studies, he held a research analyst position at Salomon Smith Barney. He is a former Robert Crooks Stanley Doctoral Fellow in engineering management at Stevens Institute of Technology, with research interests in the area of management of complex systems. He is the founder of SystemicNet, LLC, in New York and a visiting fellow at the University of Adelaide in Australia.

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IMPORTANCE OF UNDERSTANDING SYSTEMIC RISK IN ENGINEERING MANAGEMENT EDUCATION A recent research study suggested that despite risk management gaining a lot ofimportance in the business world, a high percentage of multinational companies believe they arenot doing all they can to manage risk effectively. The study indicates that large companies arenot doing enough to integrate risk management into a systemic process embedded in thecompany’s other business processes. One of the reasons this could be possible is due to asignificant shortage of engineering managers who understand risk management and an evengreater scarcity of engineering managers who understand systemic risk management. This study builds on earlier research work done by the authors, which includeddistribution of a survey to faculty of engineering management programs to evaluate riskmanagement course offerings as a part of the degree offerings across the US. In this paper, theauthors will discuss the term systemic risk management and confer about its importance to largemultinational organizations. Since the term systemic risk management has only been introducedto the engineering management field recently, despite it gaining recognition, there is littleattention given to training engineering managers in the field and to giving them insights thatwould be beneficial to mitigate risks to a more manageable level. The authors will discuss howsystemic risk management can be integrated into engineering management education and how itwould enable engineering managers to be more efficient at easing the level of risk associatedwith the projects they work on.

Gandhi, S. J., & Gorod, A. (2012, June), The Importance of Understanding Systemic Risk in Engineering Management Education Paper presented at 2012 ASEE Annual Conference & Exposition, San Antonio, Texas. 10.18260/1-2--22071

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