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Course Description

Risk management is the structured, disciplined approach to dealing with unknown events and how they can affect project performance. This course includes a review of the basic components of risk: probability of an event and the consequences of the event. The core elements of probability theory are reviewed, as are the basic components of estimation theory. Risk management is assessed from its basic steps: risk identification, risk impact analysis, risk response planning, risk monitoring and control, and planning. Risk modeling, using Monte Carlo simulation, will be fully discussed. Case studies will illustrate how risk management is successfully used in a variety of fields. Project management applications are reviewed to show how risk management improves project performance as measured by reduced cost overruns and schedule delays and how quality and safety issues can be improved by application of risk management techniques.

Course Objectives

 

At the completion of the course, a successful student will be able to:

  • Identify the basic components of risk and a risk management plan.
  • Describe the core elements of probability and estimation theory.
  • Describe how risk management improves project performance.

 

Notes

This course is an open enrollment course. No application is required and registration is available by clicking "Add to Cart." Current students must register with their Georgetown NetID and password. New students will be prompted to create an account prior to registration.

Course Prerequisites

Project Management Fundamentals or permission of the instructor.

Applies Towards the Following Certificates

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Type
Online
Dates
Jul 18, 2022 to Jul 24, 2022
Contact Hours
8.0
Course Tuition
Tuition non-credit $695.00
Instructors
Section Notes

Welcome to Online Learning -

  • Course materials can be accessed on your own time within the set time frame of the course
  • Your experience is typically self-guided
  • Materials may include self-guided interactive learning modules, pre-recorded lectures, and podcasts
  • Complete assignments based on your understanding,
  • Gives you the chance to review information, take notes, and practice retention without concern over the speed of a lecture or the pace of your classmates.
  • Shape your learning experience based on your needs as opposed to the tempo of the classroom
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