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


  • 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.

  • Practical examples in combination with theory will be emphasized. Student teams conduct several assignments that are related to the themes of the lecture.
  • IND200
  • Written exam, 3 hours (100 %)

  • External examiner participates together with ineranl examiner in the design of the exam questions.
  • 3 assignments. All must be passed.
  • Lectures: 2 hours of lecture per week
  • Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)