This course provides a comprehensive study of project risk management, including concepts, methodologies, and applications. It includes systematic approaches to risk identification, risk modeling, risk impact assessment, respond planning, and documentation. Decision science methods such as System Dynamics, Monte Carlo Simulation, Decision Analysis, Probability Analysis, Analytic Hierarchy Process, and Scenario Analysis will be utilized in risk assessment. Use of computer software in risk analysis will also be emphasized.
Prerequisite: Working knowledge of Microsoft Excel, basic statistics, College Algebra or their equivalents.
4 Graduate credits
Effective August 23, 2003 to present
Meets graduation requirements for
- Utilize project risk management tools, techniques, and skills
- Align critical resources for addressing risks and opportunities for effective project implementation
- Understand the influence of organizational dynamics in project risk management
- Identify and utilize key performance metrics for project risk assessment
- Recognize and mitigate the early seeds of failure or risk or opportunities in the project life cycle
- Give exposure to basic project risk management software features
- Learn elements of PMBOK methods of risk management and gain exposure to risk management approaches in PRINCE2, ISO 31000, and Agile methodologies