Course Code: 5620703
METU Credit (Theoretical-Laboratory hours/week): 3(3-0)
ECTS Credit: 8.0
Language of Instruction: English
Level of Study: Graduate
Course Coordinator: Prof.Dr. İREM DİKMEN TOKER
Offered Semester: Fall or Spring Semesters.

Course Objective

- To increase awareness of students on the vital role of systematic tackling of risks in construction projects and introduce a conceptual risk management framework - To introduce qualitative and quantitative risk analysis tools/methods (soft systems methodology, Monte Carlo Simulation, multi-attribute decision making tools, sensitivity testing etc.) so that students may be able to measure level of risk in construction projects - To discuss various case studies taken from construction industry to demonstrate the application of risk management principles/techniques in practice. - To increase oral and written presentation skills as well as ability to work as a team

Course Content

No data is found for the course content.

Learning Outcomes

By the end of the course, students will be able to - Identify and classify risk sources in a construction project - Quantify risk impacts on a construction project by using different analysis tools such as Decision Trees, Sensitivity Testing, Monte Carlo Simulation, Risk Rating, and Fuzzy Risk Rating - Use Utility theory to incorporate risk attitude while giving decisions under risk - Evaluate the results of risk analysis and generate necessary risk response strategies under different contractual conditions - Carry out risk management planning and set up a corporate risk management system in a construction company