Risk analysis and management in design and construction have, in the past, tended to depend mainly on intuition, judgment and experience. This course will help the student explore the subject of risk in a more objective manner, looking at both traditional risk management through the use of CPM/PERT/MSC and a more systematic analysis of defining, assessing and treating risk to help decisions to proceed and aid in managing the work. The lectures will be delivered in 3 hour units per week by a qualified Professional Quantity Surveyor. The 3 hour units will be broken down into a 1 hour lecture and a 2 hour lab session allowing the student to work within a group context to assist learning and allowing question and answer time with the lecturer.
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Learning Outcomes
Upon successful completion, the student will be able to:
Apply the tools that have been developed in the course and throughout the program to identify, analyze and manage risk in the development and construction of buildings.
Interpret the subject of risk in a more objective manner.
Select and apply common construction management tools to asses risk management using CPM and other tools (PERT/MSC).
Apply a more systematic analysis to defining and treating risk to help decisions to proceed and aid in managing the work as it moves through the various phases of design and construction.
Construct a more definite categorization of risk using a risk registry to identify and quantify the risks in a project.
Apply methods involving financial benefit analysis, contract clauses, insurance and other instruments for development and construction activities.
Develop plans to aid in minimizing losses and enhancing profitability.
Effective as of Fall 2011
Related Programs
CMGT 8060 is offered as a part of the following programs:
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