We may earn an affiliate commission when you visit our partners.
Course image
Course image
edX logo

Strategic Decisions for Project Leaders

Exploiting Risk and Opportunity

Gregory Baecher

Once project risks are identified and quantitatively analyzed, the project manager needs to make decisions. Having created probabilistic models of project risks, powerful methods of decision science can be brought to bear in making optimal plans and creating contingencies.

Read more

Once project risks are identified and quantitatively analyzed, the project manager needs to make decisions. Having created probabilistic models of project risks, powerful methods of decision science can be brought to bear in making optimal plans and creating contingencies.

While some strategies can be executed concurrently with proactive management, risk can also be transferred or eliminated using carefully-planned strategies. These methods open the possibility of smarter decisions with more risk-neutral tactics that take advantage of capital markets. Financial approaches to transferring risk by insurance, catastrophe bonding, and other mechanisms is a poorly understood but efficacious method for dealing with unique risks on large and potential consequential projects.

By leveraging the appropriate tools for estimation using Bayesian thinking, classical utility theory, and behavioral economics, the project management executive or project owner can exploit risk to their advantage. The opportunities for construction firms, facility managers, municipal governments, and investors is enormous and growing.

What you'll learn

● Project decision making considering risk aversion and utility, calculating risk premiums using quantitative project risk models.

● Risk transfer via insurance and re-insurance. What are insurance and re-insurance and why can project managers use insurance, bonds, and other financial instruments?

● How to transfer risk and reduce transaction costs? How much should the PM pay to transfer risk?

● What is Alternative Risk Transfer (ART), including insurance-linked securities, risk pools, resilience bonds, and other instruments, and how can projects make use of them?

● What are catastrophe (CAT) bonds? When and where are they most useful?

What's inside

Syllabus

Week 1: Decision Making
Week 2: Risk Aversion and utility theory
Week 3: Risk Transfer via Insurance
Week 4: Re-Insurance industry
Read more
Week 5: Cat Bonds and alternative risk transfer

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Quantifies project risks, equipping learners with vital decision-making tools
Provides options for executing risk mitigation strategies concurrently with proactive management
In-depth exploration of financial approaches to risk transfer, including insurance and catastrophe bonding
Offers comprehension of risk estimation, utility theory, and behavioral economics
Delves into various risk transfer instruments, including insurance-linked securities, risk pools, and resilience bonds
Taught by instructors recognized for their expertise in project risk management
Appropriate for experienced project managers and construction professionals
Requires a strong foundation in project management principles

Save this course

Save Strategic Decisions for Project Leaders: Exploiting Risk and Opportunity to your list so you can find it easily later:
Save

Career center

Learners who complete Strategic Decisions for Project Leaders: Exploiting Risk and Opportunity will develop knowledge and skills that may be useful to these careers:
Project Manager
A Project Manager plans, organizes, and executes projects to achieve specific goals. This course may be useful as it teaches methods for identifying and analyzing project risks, making decisions considering risk aversion and utility, and transferring risk via insurance and re-insurance.
Actuary
An Actuary uses mathematical and statistical methods to assess risk and uncertainty. This course may be useful as it provides a foundation in risk analysis and teaches methods for calculating risk premiums using quantitative project risk models.
Risk Consultant
A Risk Consultant helps organizations identify, assess, and manage risks. This course may be useful as it provides a foundation in risk management and teaches methods for making decisions considering risk aversion and utility.
Financial Analyst
A Financial Analyst provides advice on investment decisions and develops financial plans for individuals and organizations. This course may be useful as it provides a foundation in financial risk management and teaches methods for exploiting risk to an organization's advantage.
Business Continuity Manager
A Business Continuity Manager develops and implements plans to ensure that an organization can continue to operate in the event of a disruption. This course may be useful as it teaches methods for identifying and analyzing project risks and developing contingencies.
Investor
An Investor allocates capital to different investment opportunities. This course may be useful as it teaches methods for identifying and analyzing project risks and making decisions considering risk aversion and utility.
Facility Manager
A Facility Manager maintains and operates buildings and other facilities. This course may be useful as it teaches methods for identifying and analyzing project risks and developing contingencies.
Quantitative Analyst
A Quantitative Analyst uses mathematical and statistical models to analyze financial data. This course may be useful as it provides a foundation in risk analysis and teaches methods for using quantitative models to identify and mitigate risk.
Municipal Government Official
A Municipal Government Official oversees the operations of a city or town. This course may be useful as it teaches methods for identifying and analyzing project risks and developing contingencies.
Investment Manager
An Investment Manager manages investment portfolios for individuals and organizations. This course may be useful as it provides a foundation in financial risk management and teaches methods for exploiting risk to an organization's advantage.
Construction Manager
A Construction Manager oversees the construction of buildings and other structures. This course may be useful as it teaches methods for identifying and analyzing project risks and developing contingencies.
Insurance Broker
An Insurance Broker advises clients on insurance policies and helps them find the best coverage for their needs. This course may be useful as it helps build a foundation in insurance and re-insurance and provides insights into how projects can make use of these financial instruments to transfer risk.
Risk Manager
A Risk Manager develops, coordinates, and implements risk assessment, risk control, and risk finance programs to mitigate an organization's risk exposure. This course may be useful as it teaches methods for identifying and analyzing project risks, making decisions considering risk aversion and utility, and transferring risk via insurance and re-insurance.
Economist
An Economist studies the production, distribution, and consumption of goods and services. This course may be useful as it provides a foundation in risk management and teaches methods for exploiting risk to an organization's advantage.
Data Scientist
A Data Scientist uses data to solve business problems. This course may be useful as it provides a foundation in risk analysis and teaches methods for using data to identify and mitigate risk.

Reading list

We've selected seven books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Strategic Decisions for Project Leaders: Exploiting Risk and Opportunity.
Provides a detailed guide to project risk management processes, techniques, and applications. It comprehensive resource for project managers and other professionals involved in risk management.
Provides a theoretical foundation for decision making under uncertainty. It valuable resource for project managers and other professionals who need to make decisions in the face of uncertainty.
Provides a comprehensive overview of risk management for projects. It valuable resource for project managers and other professionals involved in risk management.
Provides a practical guide to risk management for practitioners. It valuable resource for project managers and other professionals involved in risk management.
Provides a guide to good practice for risk management. It valuable resource for project managers and other professionals involved in risk management.
Provides a theoretical and practical overview of risk management. It valuable resource for project managers and other professionals involved in risk management.
Provides a comprehensive overview of risk management. It valuable resource for project managers and other professionals involved in risk management.

Share

Help others find this course page by sharing it with your friends and followers:

Similar courses

Here are nine courses similar to Strategic Decisions for Project Leaders: Exploiting Risk and Opportunity.
Our mission

OpenCourser helps millions of learners each year. People visit us to learn workspace skills, ace their exams, and nurture their curiosity.

Our extensive catalog contains over 50,000 courses and twice as many books. Browse by search, by topic, or even by career interests. We'll match you to the right resources quickly.

Find this site helpful? Tell a friend about us.

Affiliate disclosure

We're supported by our community of learners. When you purchase or subscribe to courses and programs or purchase books, we may earn a commission from our partners.

Your purchases help us maintain our catalog and keep our servers humming without ads.

Thank you for supporting OpenCourser.

© 2016 - 2024 OpenCourser