Risk Management

Course: Risk Management

Code: 3ФЕИТ04010

ECTS points: 6 ECTS

Number of classes per week: 3+0+0+3

Lecturer: Prof. Dr. Vangel Fustikj

Course Goals (acquired competencies): With completion of the course, the student will be capable for understanding, analysis and managing risks in the projects. With organized learning the tools and skills for identification and valuing the project risks, the student will have the knowledge for decision making either to mitigate, avoid or to transfer the risks for successful project implementation. The student will be able to identify the difference between the risk and the possibility, and to make brave decisions for usage the possibilities in the projects and business.

Course Syllabus: Introduction in Risk management. Up-to-date development trends in Risk management. Possibility as a powerfull tool for obtaining concurent’s advantage. Risk management phases.  Risk identification in particular projects in different utilities. Documentation for risk treatment.  Qualitative risk assessment and analysis. Quantitative value determination of the particular risks influence to the project success. Project manager, project team and the risks. Control list for the risks, their planning, mitigation and their controlling. Decission for risk response planning considering the costs for mitigation and / or transfer of the risk. Risk management methods. The aspects of Cost-Benefit Analysis. Case studies from the practice from real projects.

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