This module is an advanced version of IE5004 ? Engineering Probability and Simulation. This module aims to provide engineers with a practical treatment of probability. Apart from the fundamental framework, examples showing how various concepts and techniques can be adapted to solve practical problems will be discussed. An introduction to simulation techniques such as the Monte Carlo method together with stochastic modeling is also included. Besides evening lectures on the above topic, seminars on fundamental aspects of the subject matters will be conducted. Research papers will be reviewed during the seminars.