Course code IND240

IND240 Uncertainty Management in Projects

Norsk emneinformasjon

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Showing course contents for the educational year 2021 - 2022 .

Course responsible: Asmamaw Tadege Shiferaw
ECTS credits: 5
Faculty: Faculty of Science 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 / deficiencies  in deterministic project mnanagement
  • Uncertainty dimension in projects
  • Decisions under uncertainty
  • Quantitative uncertainty analysis; costs, total economy, progress
  • Qualitative uncertainty analyzes
  • Multi criteria decision analysis (MCDA)
  • Analysis Techniques - Monte Carlo simulation
  • Analysis tools - examples
  • Operational, proactive management of project uncertainty
  • Value as a governing parameter  

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

Learning outcome:

The course will provide students basic knowledge on the analysis and management of the uncertainty dimension of  projects:

  • Investment costs
  • Total economy
  • Progress plans (schedule)
  • Value creation / usefulness

The use of recognized tools and review of actual project examples in the classroom provide students  the required skill to cope with the actual challenges of project management and governance.

Learning activities:
Practical examples in combination with theory will be emphasized. Student teams conduct several assignments that are related to the themes of the lecture. 
Curriculum overview is presented in the first lecture
Recommended prerequisites:
Mandatory activity:
1-3 assignments. All must be passed.
Assignment (40 %) and written exam, 3 hours (60 %)
Nominal workload:
5 credits normally requiers a workload of 125 hours
Entrance requirements:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)
Type of course:
Lectures: 2 hours of lecture per week
External examiner participates together with ineranl examiner in the design of the exam questions.
Allowed examination aids: B1 Calculator handed out, no other aids
Examination details: Combined assessment: Letter grades