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UMD, USMx: Strategic Decisions for Project Leaders: Exploiting Risk and Opportunity

Project management executives and project owners can exploit risk to their advantage and find opportunities. Learn how to leverage the decision-making tools using Bayesian thinking, utility theory, and behavioral economics.

Strategic Decisions for Project Leaders: Exploiting Risk and Opportunity
5 semanas
1–3 horas por semana
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Comienza el 15 nov

Sobre este curso

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Once project risks are identified and quantitatively analyzed, the project manager needs to make decisions. Having created probabilistic models of project risks, powerful methods of decision science can be brought to bear in making optimal plans and creating contingencies.

While some strategies can be executed concurrently with proactive management, risk can also be transferred or eliminated using carefully-planned strategies. These methods open the possibility of smarter decisions with more risk-neutral tactics that take advantage of capital markets. Financial approaches to transferring risk by insurance, catastrophe bonding, and other mechanisms is a poorly understood but efficacious method for dealing with unique risks on large and potential consequential projects.

By leveraging the appropriate tools for estimation using Bayesian thinking, classical utility theory, and behavioral economics, the project management executive or project owner can exploit risk to their advantage. The opportunities for construction firms, facility managers, municipal governments, and investors is enormous and growing.

De un vistazo

  • Instituciones

    UMD

    USMx
  • Tema: Ingeniería
  • Nivel: Intermediate
  • Prerrequisitos:
    Ninguno
  • Idioma: English
  • Transcripción de video: English
  • Programas asociados:
  • Habilidades asociadas:Decision-Making Software, Economics, Decision Theories, Management, Strategic Decision-Making, Project Risk Management, Utility Theories

Lo que aprenderás

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● Project decision making considering risk aversion and utility, calculating risk premiums using quantitative project risk models.

● Risk transfer via insurance and re-insurance. What are insurance and re-insurance and why can project managers use insurance, bonds, and other financial instruments?

● How to transfer risk and reduce transaction costs? How much should the PM pay to transfer risk?

● What is Alternative Risk Transfer (ART), including insurance-linked securities, risk pools, resilience bonds, and other instruments, and how can projects make use of them?

● What are catastrophe (CAT) bonds? When and where are they most useful?

Plan de estudios

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Week 1: Decision Making

Week 2: Risk Aversion and utility theory

Week 3: Risk Transfer via Insurance

Week 4: Re-Insurance industry

Week 5: Cat Bonds and alternative risk transfer

Este curso es parte del programa Project Risk Management: Effective Decision Making Strategies Professional Certificate

Más información 
Instrucción por expertos
3 cursos de capacitación
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4 meses
1 - 3 horas semanales

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