PM - 135 Project Risk Management

Credits: 3

Prerequisites
PM 101.

This course provides an in-depth analysis of identifying, analyzing, evaluating, and controlling project costs and risks, while making decisions to effect project completion. State-of-the-art tools and techniques for identifying, measuring, and monitoring costs and risks in the project management environment are examined. Cost estimating, cost budgeting, activity based costing, and cost control techniques are emphasized. Decision analysis and decision tree techniques are studied to include expected value, minimax, and maximin criteria. Also covered will be areas of flawed decisionmaking, including such topics as groupthink, the domain of losses, the domain of gains, the Abilene paradox, the Milgram experiments, the Asch effect, and the like. The course is on how a comprehensive risk management approach can enable a project team to make the correct decisions to proactively manage issues and costs that adversely impact the successful control and completion of a project.