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First lecture: Monday 18th of August 2014 at 1315-1600 in VG1. The lecture plan for the entire semester is found here!
Course content
Terminology related to risk and uncertainty in projects. Main elements of risk management to deal with risk and uncertainty in projects. Review of central practical methods for identification and analysis of risk and uncertainty. Quantitative modelling of schedule and time in project. Decision theory. Cost analysis in a life time perspective. Statistical methods for parameter estimation. Use of expert judgement for assessment of parameters. Case studies related to turnarounds.
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Weekly exercises. The exercises are mandatory. It is required to have 4 exercises approved. The exercise plan is found here!
Project work
- A semester project is mandatory in this course
- The project counts 30% in the evaluation (the exam counts 70%)
- Projects shall be carried out by a group of three students (you are free to form groups as you like)
Note that previous exams (before 2013) have been open book exams. This year it will not be an open book exam. However, a table of formulas is prepared. The students may write notes on this table, and use the table of formulas with the notes on the exam. The table of forumla may be found here.
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