Project Risk Analytics

Catalog description

A problem-based course that emphasizes project risk assessment, prioritization, and risk-driven planning. This course teaches students pragmatic perspectives on uncertainty and project risk and how to use analytic tools to create actionable risk information for real-world decision-making in project planning, execution, and control. Risk management is an indispensable element for effective project management. The course introduces students to proven theories, analytic tools, and best practices in risk management to manage a project to its success in VUCA (volatile, uncertain, complex, and ambiguous) environments. In this course, students will learn that project risks are not necessarily surprises and can be effectively managed by using analytic tools and best practices in risk management planning, risk identification, qualitative and quantitative risk analyses, risk response planning, and risk monitoring and control. The course also emphasizes applications of risk concepts and analytic tools to state-of-the-art practices. Case studies will be used to help students develop a practical understanding of the best practices in project risk management.