Course code IND240

IND240 Uncertainty Management in Projects

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Showing course contents for the educational year 2015 - 2016 .

Course responsible: Ingemund Jordanger
Teachers: Tor Kristian Stevik
ECTS credits: 5
Faculty: Department of Mathematical Sciences and Technology
Teaching language: NO
(NO=norsk, EN=Engelsk)
Teaching exam periods:
Spring semester
Course frequency: Annually
First time: Study year 2015-2016
Course contents:


Challenges / missing in deterministic project

Uncertainty dimension in projects

Decisions under uncertainty

Quantitative uncertainty analysis; costs, total economy, progress

Qualitative uncertainty analyzes

Multiple Goal Analysis

Analysis Techniques - Monte Carlo simulation

Analysis tools - examples

Operational, proactive management of project uncertainty

Value as a control parameter

The course will have a strong foundation in examples from real projects.

Learning outcome:

The course will provide students with basic knowledge of analysis and management of the uncertainty dimension of the project:

Investment costs
Total economy
Progress plans
Value creation / usefulness

Use of recognized tools and review of actual project examples provide students with the skills to meet the real challenges in project management.

Learning activities:
Practical examples in combination with theory will be emphasized. Student teams conducts several case that relate to the themes of the lecture. 
Curriculum overview is presented in the first lecture
Recommended prerequisites:
Written exam, 3 hours
Nominal workload:
5 credits normally requiers a workload of 150 hours
Entrance requirements:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)
Type of course:
Lectures: 4 hours pr week
External examiner participates together with ineranl examiner in the design of the exam questions.
Examination details: Written exam: A - E / Ikke bestått