Lecture

Risk Analysis in Project Management

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In courses (2)

MGT-427: Project management and risk analysis

Ce cours a pour objectif de présenter l'approche générale du management de projet en intégrant la gestion du risque dans toutes les étapes du projet. ...

MGT-426: Logistics and demand analysis

La logistique, fonction transversale par excellence, intègre toutes les dimensions des processus industriels à ajout de valeur, de l'approvisionnement à la distribution aux clients et au-delà en intégrant le développement durable. Un focus particulier sera ...

Description

This lecture covers the methodology and tools for risk analysis in project management, including the identification, prevention, and management of risks. It explores techniques such as brainstorming, SWOT analysis, and the Delphi method. The lecture also delves into quantifying risks, evaluating probabilities, and developing success factors. Additionally, it discusses the importance of lean management in reducing complications and mastering risks. Examples and case studies are used to illustrate the concepts presented.

Instructor

Philippe Wieser

Philippe Wieser obtained his diploma of engineer in mechanics at the EPFL in 1977 and he received his PhD in 1981. After a few years working in a engineering consulting company, he joined the EPFL as lecturer. His fields of research and teaching deal with logistics, supply chain management, information systems and integrated logistics, health supply chain and project management. Since May 2000, Philippe Wieser is the executive director of IML: International Institute for the Management of Logistics (EPFL - Lausanne and ENPC - Paris). In 2008 he was appointed Professeur titulaire at EPFL. Philippe Wieser teaches in EPFL-Lausanne (Minor, Master and Executive Master MSL), ENPC-Paris (Executive Master) and other European and African Universities. He is author or co-author of more than ninety publications and international conferences.

Official source

Ontological neighbourhood

Business

Business administration: Risk management

Related concepts (31)

Quantifier (logic)

In logic, a quantifier is an operator that specifies how many individuals in the domain of discourse satisfy an open formula. For instance, the universal quantifier in the first order formula expresses that everything in the domain satisfies the property denoted by . On the other hand, the existential quantifier in the formula expresses that there exists something in the domain which satisfies that property. A formula where a quantifier takes widest scope is called a quantified formula.

Tool

A tool is an object that can extend an individual's ability to modify features of the surrounding environment or help them accomplish a particular task. Although many animals use simple tools, only human beings, whose use of stone tools dates back hundreds of millennia, have been observed using tools to make other tools. Early human tools, made of such materials as stone, bone, and wood, were used for the preparation of food, hunting, the manufacture of weapons, and the working of materials to produce clothing and useful artifacts and crafts such as pottery, along with the construction of housing, businesses, infrastructure, and transportation.

Operational risk

Operational risk is the risk of losses caused by flawed or failed processes, policies, systems or events that disrupt business operations. Employee errors, criminal activity such as fraud, and physical events are among the factors that can trigger operational risk. The process to manage operational risk is known as operational risk management.

Conditional probability

In probability theory, conditional probability is a measure of the probability of an event occurring, given that another event (by assumption, presumption, assertion or evidence) has already occurred. This particular method relies on event B occurring with some sort of relationship with another event A. In this event, the event B can be analyzed by a conditional probability with respect to A. If the event of interest is A and the event B is known or assumed to have occurred, "the conditional probability of A given B", or "the probability of A under the condition B", is usually written as P(AB) or occasionally P_B(A).

Risk

In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is "effect of uncertainty on objectives".

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