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:

themes:

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. 
Syllabus:
Curriculum overview is presented in the first lecture
Prerequisites:
IND200
Recommended prerequisites:
Assessment:
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
Examiner:
External examiner participates together with ineranl examiner in the design of the exam questions.
Examination details: Written exam: A - E / Ikke bestått