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Apr 19, 2024
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CENG 534 - Risk Management and Bidding Strategies
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.
Prerequisites
CENG 531.
When Offered
Offered in fall and spring.
(3 cr.)
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