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Apr 18, 2024
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CENG 534/5265 - Risk Management and Bidding Strategies (3 cr.)
Prerequisites
Description
Introduction to risk and uncertainty. Process of risk management; risk identification, risk analysis (qualitative and quantitative), risk response planning, risk monitoring and control. Tools and techniques; decision trees, PERT, modeling, optimization, Monte Carlo simulation and application. Introduction to risk analysis packages (Crystal Ball, PERT Master). Analyzing the bidding accounting for project risks. Behavior of key competitors, estimating optimum markup.
When Offered
Offered in fall and spring.
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