Project Risk Analytics

Risk management plays a key role in project management methodology. For any investment decisions under conditions of uncertainty, the three dimensions -Uncertainty, Complexity, and Risk becomes critical to be understood for appropriately managing projects. Project managers want to make better decisions, especially regarding impactful projects that require significant resource commitments to resolve technical challenges. There is a strong desire to increase insights about the past, present and future for higher-quality decisions. Risk analytics involving predictive and prescriptive analytics quantifies risk, providing information to facilitate decision-making on projects with significant investment risk. To make the best decisions about innovation projects, leaders need to understand fully how quantitative risk analysis can help. The Project risk analytics program emphasis on building data-driven models for managing risks in projects across sectors, where data can be collected on project sites, and/or generated using procedures for eliciting experts’ judgments. It Integrates practitioners’ and managerial experience with the decision-theoretic framework. This program will enable you to through advanced scientific methods and transform your projects towards success. 

 

Pedagogy 

The program will be based on “EXPERENTIAL LEARNING”. We will use case studies, discussions, exercises, and presentations to enhance active learning through group and Individual hands-on exercises.

 

Objectives: 

  • To CREATE VALUE through implementing an appropriate risk management strategy 
  • To IDENTIFY risk in your projects through a structured approach 
  • To EVALUATE and MITIGATE risk through data-driven models 
  • To DESIGN the appropriate controls for managing risk 

 

Session 1: Understanding Challenges of VUCA; Introduction to Risk and Uncertainty 

Session 2: Structuring Risk identification through; Creating WBS and RBS mapping 

Session 3: Quantifying and assessment of Risk- Using Multi-Criterion Decision-making Techniques, 

Session 4: Decision Trees Modelling 

Session 5: Learning and Practicing Simulation 

Session 6: Stakeholder and Contract Management and Discussions with Participants" 

 

This programme is aimed at executives who are planning to be involved or initiated their career in risk management across various projects. The course emphasizes the strategic, organizational and management aspects of projects and recommends for middle and senior managers (including project managers) in all industries that deal with projects. 

  1. Registration fees include the following:

    For all the participants:

    • Online sessions
    • Online study material
    • Certificate for course completion

  2. Refund policy

    Fees once paid can be adjusted for 1 financial year against future nominations only. In case a course is canceled on account of inadequate participation or any other unforeseeable reasons, the participants will be informed of the cancellation by e-mail or Fax and the fee will be refunded. IIM Mumbai will not be liable for any other expenses incurred by the company or the participant. Any transaction fee will not be refunded.

  3. Individual Registration

    If you wish to register & make payment, please click here Register

  4. Company-sponsored / Bulk Registration:

    • In the case of company-sponsored candidates, please share the nomination list and GST details to program@iimmumbai.ac.in for invoice generation.

      Download the INVOICE DETAILS FORM

    • Note: Discount is applicable for 5 or more participants from same organization against invoice.

Course Details

Mode Online / Virtual
Duration 18 Hrs.
Programme Dates Nov 11, 2024 to Nov 15, 2024 (Timing: 5.00 PM - 8.00 PM)
Program Chair Prof. Ruchita Gupta
Program Co-Chair Prof. Vivekanand Khanapuri

Download Brochure

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