Extended Studies Department

Nathan M. Bisk College of Business

 

MGT 5088 Project and Program Risk Management

Spring 2019 Course Syllabus

Instructor:                  Dr. Shawn Lueders, PhD Project Management

Meeting Times:          5:00 p.m. – 8:00 p.m.

Class Location:          Toftoy Hall, Redstone Arsenal, AL

Office Location:        Toftoy Hall FIT Office

Office Hours:             As necessary through email/voice mail/appointment

Phone:                        (256) 653-6775

Email:                         shawn.lueders@gmail.com

 

REQUIRED TEXT:

 

 

               

OTHER MATERIAL:

 

SUPPLEMENTAL TEXT (Not required; for reference only):

o   The PMBOK Guide is available from www.pmi.org with student or regular membership in the Project Management Institute.

 

COURSE PREREQUISITE:

 

COURSE DESCRIPTION

 

This course systematically approaches risk management from project initiation to project planning, implementation, control and closeout.  It discusses various techniques and models for qualitative/quantitative risk assessment and risk management in areas such as cost, schedule and outputs, along with their applicability to various project management environments.

 

The course will be offered as a series of lecture/seminar/workshop sessions.  Sessions will vary in their learning/teaching approaches, integrating class discussions, lectures, in-class workshops/exercises, and guest speakers when available.

 

For students interested in pursuing the Project Management Professional (PMP) certification by the Project Management Institute, completing this course could be used to meet the college level project management course requirement for the PMP certification.

 

COURSE OBJECTIVES

 

Students will demonstrate competencies in:

  1. A basic understanding of the concepts of risk management in projects and programs
  2. Overview of risk management techniques used currently by project and program managers
  3. Risk management concepts as demonstrated through preparing a comprehensive risk management plan for simulated or actual project or program management issues

 

COURSE LEARNING OUTCOMES

 

Students successfully completing this course should be able to:

  1. Classify risk and develop a systematic process of risk management
  2. Prepare project risk identification plan
  3. Develop a risk management plan
  4. Develop Work Breakdown Structure (WBS) and Statement of Work (SOW) for risk identification
  5. Use SWOT Analysis for risk management; develop a Risk Breakdown Structure (RBS)
  6. Conduct a root cause identification and analysis; create risk registers and tables
  7. Conduct decision analysis and estimating relationship in risk management
  8. Conduct network analysis; use program evaluation and review technique (PERT) in risk management
  9. Conduct Data Quality Assessment as it relates to risk management
  10. Develop risk response matrix
  11. Conduct risk reviews and risk audits

 

ASSESSMENTS

The learning outcomes will be assessed by:

  1. Demonstrated knowledge of risk management concepts and processes measured by classroom activities, a comprehensive risk management plan, individual homework assignments, mid-term and final examinations.
  2. Development of a comprehensive risk management plan for simulated or actual project or program management issues.

 

Assessment Categories

 

A summary of the assessment categories are outlined below.

 

Item

Percent of Course Grade

1.      Class Participation – Individual Effort

10%

2.      Comprehensive Risk Management Plan – Individual or Group Effort

30%

3.      Homework Assignments – Individual Effort

15%

4.      Midterm Exam – Individual Effort

20%

5.      Final Exam – Individual Effort

25%

Total

100%

 

 

  1. Class Participation – Individual Effort: (10%)

For Face-to-Face Classroom Sessions:

Points will be awarded for class participation based on the following:

 

For Distance Learning Sessions:

Points will be awarded for class participation based on the following:

 

For All Sessions (Face-to-Face Classroom & Distance Learning):

 

Each student is expected to be an active participant in all class discussions and to offer meaningful analyses and convincing arguments for the position staked out.  Your grade on class participation is something to be earned by contributing your assessments and judgments to all class discussions.

 

Important Note About Class Participation: 

For Face-to-Face Classroom Sessions:

 

For Distance Learning Sessions:

 

  1. Comprehensive Risk Management Plan – Individual or Group Effort: (30%)

Depending on the size of the class, this assignment could be completed individually or as a group.  The instructor will provide direction to students.

 

For this assignment, your grade on the presentation will be based on the following:

  1. The clarity and thoroughness with which you/your team identifies and articulates the relevant issues.
  2. The caliber (depth and breadth) of you/your team’s analysis of the issues and demonstrated ability to use the concepts and tools from the course in a competent manner.
  3. The breadth, depth, practicality of you/your team’s solutions, degree of detail, specificity of any recommended actions, and caliber of supporting arguments.
  4. If presentation of the work is required, the degree of preparation, professionalism, energy, enthusiasm, and skills demonstrated in delivering the presentation.

 

  1. Homework Assignments– Individual Effort: (15%)

You will be expected to complete and submit the assignment in accordance with the assignment instructions.

 

  1. Midterm Exam – Individual Effort: (20%)

You will be expected to complete a midterm exam, in accordance with instructions to be provided by the instructor.

 

  1. Final Exam – Individual Effort: (25%)

Similarly, you will be expected to complete a final exam, in accordance with instructions to be provided by the instructor.

 

Very Important Note on Individual Effort:

All individual effort assignments are to be completed individually.  Any individual assignment not completed by the individual will receive a grade of zero for the particular assignment.

 

GRADING

 

Grades will be administered in accordance with College of Business and University policies and practices.  Letter grades will be earned based on total number of points attained, according to the following schedule:

A  =  90 – 100 %

B  =  80 –  89%

C  =  70 –  79%

D  =  60 –  69%

  F  =  59% or less

NOTE:

  1. The following conditions are the minimum level of effort required to qualify for an “A” grade in this class:
    1. Attend and actively participate in a minimum of 80% of the class sessions.
    2. Successfully complete all work in the Course Assessment Categories in a timely manner, i.e.:

o   Class Participation

o   Homework Assignments

o   Risk Management Plan

o   Midterm Exam

o   Final Exam

Note: Meeting minimum requirements is not to be construed as having fulfilled an “A” grade level effort and results.

  1. To pass this course, you need to:
    1. Attend and actively participate in a minimum of 65% of the class sessions.
    2. Satisfactorily complete all work in the Course Assessment Categories in a timely manner, i.e.:

o   Class Participation

o   Homework Assignments

o   Risk Management Plan

o   Midterm Exam

o   Final Exam

 

ADMINISTRATION

Use of best writing practices always enhances your final written document.  For example, the following factors will generally contribute to the professionalism of a document:

 

Assignments and Expectations:

Each student is expected to submit all assignments in accordance with the assignment instructions and the assignment schedule outlined in this Course Syllabus, or as updated by the instructor.  Group assignments, when applicable, should reflect the total contributions of all the team members.

 

All assignments submitted for grading must be in Microsoft Word format, 12-point font size, preferably Times New Roman font style, using 1.5 lines-spaced format.  Students must be able to produce a copy of all work submitted if so requested.

 

Assignment Submission Instructions:

  1. The file name of every assignments submitted must be of the format StudentName _AssignmentName, for example SmithJane_Assignment#1 or Team3_Project. Assignments submitted without using this format may be returned.
  2. All assignments must have the student or team’s name on the first page of the Microsoft Word document.
  3. All assignments should be submitted to the electronically in CANVAS, and not through e-mails attachments. All documents submitted need to conform to the naming convention outlined above.
  4. Late assignments will not be accepted without the instructor’s previously approved permission.

 

Each student is expected to participate fully in all exercises, discussions, assignments, and quizzes for this class.  Students are expected to spend time outside formal class lecture and discussion sessions developing their skills and knowledge on the subject matter.

 

 

Academic Integrity/Plagiarism:

Academic dishonesty includes, but is not limited to: plagiarism, collaborating with others on individual assignments or projects, viewing or copying another student’s solutions during exams, submitting completed coursework for more than one course (without consent of instructors), deliberate falsification of data, interference with other students' work, and copyright violations (including both document and software copyrights).  Please familiarize yourself with the university policy on academic honesty.  If at any time you have a question regarding integrity or plagiarism, ask the instructor for clarification.

 

Dishonest assignments (e.g., where plagiarism has occurred) will be dealt with under the University policy on Academic Misconduct.  Access to this policy, including the factors that constitute a dishonest assignment is available on the World Wide Web http://www.fit.edu/current/plagiarism.pdf.  Students are encouraged to familiarize themselves with the definitions of academic misconduct.

 

Full and detailed acknowledgement (e.g. notation, and/or bibliography) must be provided if contributions are drawn from literature in preparation of reports and assignments.  Your written work must properly cite/ reference original work, author(s), etc.  Citation and referencing must conform to either APA (American Psychological Association) or AMA (American Marketing Association) formats both in the body of your paper and any attached reference section.

 

Communication Medium Outside the Classroom:

The primary method of communication outside of our classroom time will be through the class electronic mail (e-mail) on CANVAS.  It is your responsibility to stay current with all postings to the class Web site on CANVAS.

 

Incomplete (I) Grade Policy:

The applicable incomplete (I) grade policy in this course is the Florida Tech’s incomplete (I) grade policy.  Students are expected to become familiar with the university policy.

 

Attendance and Absences:

All students are expected to attend all classes promptly and regularly.  Quality instruction clearly depends upon active student participation in the classroom.  If an absence is anticipated, the student should notify the instructor, preferably in advance. Students are encouraged to assist each other with access to class notes for missed classes.

 

Student Preparation:

A major part of our learning will take place through lecture and class discussions.  As a minimum, all students are expected to have read and thought about the information provided in the assigned chapters before coming to class.  This is a professional responsibility to yourself and your classmates.  Active participation in class discussions is an important element of a collegiate program.  Participation includes the quantity and quality of comments and class discussions, lively fellowship, positive contributions to group assignments, ability to respond to questions by classmates and the instructor and ability to work as a member of a group. Students are expected to synthesize, analyze and integrate all reading assignments.  Consistent attendance and being on time is an essential ingredient of class participation.

 

Computing, Information Retrieval, Speaking and Writing Expectations

 

 

 

COURSE SCHEDULE

 

Course Topics and Concepts

Readings/Assignments

o  Introduction to the course

o  Risk Management Practices

o  Risk Concepts

o  Pritchard

o   Chapters 1 and 2

o Risk Management Structure

o Expert Interviews

o  Pritchard

o   Chapters 3 and 4

o Planning Meetings

o Risk Practice Methodology

o  Pritchard

o   Chapters 5 and 6

o Documentation Reviews

o Analogy Comparisons

o  Pritchard

o   Chapters 7 and 8

o Plan Evaluation

o Delphi Technique

o  Pritchard

o   Chapters 9 and 10

o Brainstorming

o Crawford Slip Method (CSM)

o  Pritchard

o   Chapters 11 and 12

o SWOT Analysis

o Checklists

o Risk Breakdown Structure (RBS)

o  Pritchard

o   Chapters 13, 14 and 15

o Root Cause Identification and Analysis

o Risk Registers/Tables

o  Pritchard

o   Chapters 16 and 17

o Project Templates

o Assumption Analysis

o  Pritchard

o   Chapters 18 and 19

o Decision Analysis – Expected Monetary Value

o Estimating Relationships

o  Pritchard

o   Chapters 20 and 21

o Network Analysis (Excluding PERT)

o PERT

o  Pritchard

o   Chapters 22 and 23

o Other Diagramming Techniques

o Rating Schemes

o Urgency Assessment

o  Pritchard

o   Chapters 24, 25 and 26

o Data Quality Assessment

o Risk Modeling

o Sensitivity Analysis

o  Pritchard

o   Chapters 27, 28 and 29

o Risk Factors

o Risk Response Matrix

o Performance Tracking & Technical Performance Measurement

o  Pritchard

o   Chapters 31, 32 and 33

o Risk Reviews and Audits

o Other Common Techniques

o  Pritchard

o   Chapters 34 and 35