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Lecture

Project Evaluation and Risk Analysis

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 project evaluation and risk analysis, focusing on economic evaluation, investment choices in uncertain horizons, and project management methodologies. It discusses criteria for economic evaluation, sensitivity analysis, and probabilistic approaches to assess project variants.

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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

Related concepts (32)

Risk management

Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

Evaluation

In common usage, evaluation is a systematic determination and assessment of a subject's merit, worth and significance, using criteria governed by a set of standards. It can assist an organization, program, design, project or any other intervention or initiative to assess any aim, realisable concept/proposal, or any alternative, to help in decision-making; or to ascertain the degree of achievement or value in regard to the aim and objectives and results of any such action that has been completed.

Project management

Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives. The objective of project management is to produce a complete project which complies with the client's objectives.

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".

Risk assessment

Risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences. More precisely, risk assessment identifies and analyses potential (future) events that may negatively impact individuals, assets, and/or the environment (i.e. hazard analysis).

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