Risk Analysis and Project Management
MGMT X 443.2
This course helps project managers to understand and apply tools and techniques for evaluating risk associated with various stages of the project life cycle.
What you can learn.
- Define key concepts of a comprehensive risk management system
- Describe the impact and levels of risk that a project can face in relation to 5 Project Processes, the Triple Constraints, and the 10 Project Management Plans
- Develop a project budget and justify requests for contingency funds to cover for uncertainties, and recommend a backup plan with workaround or contingency spendings throughout the project duration
- Identify root cause of uncertainties inherent in the project, use SWOT analysis to identify risks, use qualitative and quantitative analysis to prioritize these risks, develop and implement response strategies, and summarize information to management
About this course:
Risk management is key in any project. This course helps project managers to understand and apply advanced tools and techniques for evaluating risk associated with various stages of the project life cycle. Students learn analytical methods for evaluating the selection of projects, the development of project cost estimates, analysis of the financial costs and benefits of projects, and the financial control of the project. Topics include project estimating, project financial analysis, project stimulation, project risk analysis and management, project budgeting, and cost/schedule integration. The course provides a methodology for a systematic approach to risk management and discusses project risk management in the context of the project management task as a whole.
It is advisable that you complete the following (or equivalent) since they are prerequisites for Risk Analysis and Project Management.
X 443.1 Fundamentals of Project Management or consent of instructor.