CIVL 6666 - Construction Risk Management

This course provides an overview of the process of identifying and analyzing risks in a construction project's life cycle. Different components of risk management plan and risk control including quantitative and qualitative risks are studied in this course. In addition, the best practices in risk management are introduced in this course by using industry literature and case studies. Students will work in groups on these case studies to utilize risk management tools and identify risk sources (safety, financial, legal, environmental, and project risk) and possible risk control approaches. In addition, statistical distributions and the application of Monte-Carlo simulation are also reviewed in this course. 3 credits.