IND240 Uncertainty Management in Projects

Credits (ECTS):5

Course responsible:Asmamaw Tadege Shiferaw

Campus / Online:Taught campus Ås

Teaching language:Norsk

Course frequency:Annually

Nominal workload:5 credits normally requiers a workload of 125 hours

Teaching and exam period:Spring semester

About this course

Themes:

Challenges / deficiencies in deterministic project mnanagement
Uncertainty dimension in projects
Decisions under uncertainty
Quantitative uncertainty analysis; costs, total economy, progress
Qualitative uncertainty analyzes
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

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.
Prerequisites
IND200 or equivalent project management courses
Assessment method
Written exam, 3 hours (60 %) and one semester project counting 40%.

Written exam Grading: Letter grades Permitted aids: B1 Calculator handed out, no other aids Assignment Grading: Letter grades
Examiner scheme
External examiner participates together with ineranl examiner in the design of the exam questions.
Mandatory activity
2 assignments. All must be passed.
Teaching hours
Lectures: 2 hours of lecture per week
Admission requirements
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)