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CE-886 Risk Management in Construction
Campus
MCE
Programs
PG
Session
Spring Semester 2017
Course Title
Risk Management in Construction
Course Code
CE-886
Credit Hours
3-0
Pre-Requisutes
UG level courses of construction management, civil engineering, construction science, architecture, and engineering.
Course Objectives
Aims to equip students for risk management in projects by minimizing the risks and maximizing the opportunities associated with managing engineering, building, and facilities projects.t, accuracy
Detail Content
Risk and uncertainty in projects. Risk in the construction process. Risk management terminology. Risk management maturity. Diagnosing risk management maturity. Contemporary debates in risk management. The risk and opportunity management process.
Risk and opportunity identification. The role of contracts in risk and opportunity identification. Understanding objectives. Risk identification techniques. Proactive risk identification techniques. Reactive risk identification techniques.
Risk and opportunity analysis. Quantitative risk analysis. Quantitative verses qualitative risk analysis. Qualitative risk analysis. Semi-quantitative risk analysis.
Perceptions of risk. The psychology on risk. Personal and reporting bias. Eliminating personal and reporting bias.
Risk response. To do nothing. To do something. Risk avoidance. Risk reduction and elimination. Dealing with residual risks. Mechanisms for sharing risks. Implementing, monitoring and reviewing risk and opportunity responses.
Crisis management and recovery. Crisis management planning. Recovery-business continuity management.
Developing and implementing a successful risk and opportunity management system. The informal approach. The formal approach. Creating and communicating a risk and opportunity management policy. Creating and implementing a risk and opportunity management system..
ssss Facilities Management’s new risk and opportunity management system. Auditing MFM’s approach to risk and opportunity management.
A checklist of common risks and opportunities in construction projects.
Risk and Opportunity Management System. Implementing the ROMS. ROMS audits. Support structure. The benefits of the system.
Text/Ref Books
Kerzner, Harold (2000). Project Management: A System Approach to Planning, Scheduling, and Controlling. John Wiley & Sons, Inc.
Cooke, B. and Williams, P. (2004). Construction Planning, Programming & Cointrol. 2nd Edition, Blackwell Publishing Inc. MA. USA.
Time Schedule
Spring 2015
Faculty/Resource Person
Maj Sohail Anwar Malik MSc Engineering Management