Textbook Information
- This course requires various E-books available to students for free through the Penn State Library
Published Remarks
This is a required course for the MPM Program. Students must take this course to fulfill the program requirements to graduate.
Hardware Requirements
- None
Software Requirements
- Students will need to use @RISK, which is available for students at Penn State University (and World Campus). Detailed instruction will be provided by the instructor.
Proctored Exams
- None
Course Description
A problem-based course that emphasizes project risk assessment, prioritization, and risk-driven planning. This course teaches students pragmatic perspectives on uncertainty and project risk and how to use analytic tools to create actionable risk information for real-world decision-making in project planning, execution, and control. Risk management is an indispensable element for effective project management. The course introduces students to proven theories, analytic tools, and best practices in risk management to manage a project to its success in VUCA (volatile, uncertain, complex, and ambiguous) environments. In this course, students will learn that project risks are not necessarily surprises and can be effectively managed by using analytic tools and best practices in risk management planning, risk identification, qualitative and quantitative risk analyses, risk response planning, and risk monitoring and control. The course also emphasizes applications of risk concepts and analytic tools to state-of-the-art practices. Case studies will be used to help students develop a practical understanding of the best practices in project risk management.
Course Overview
- The course has an established start and end date and you will interact with other students throughout the course.
- You will need regular online access in order to interact with other students on the discussion forum.
This course consists of 12 content lessons. You may study this material at your own pace, meaning that you will be able to read and work through this information at a rate that works best for you. However, there is a suggested pace (i.e., two exams, 12 homework assignments, and six online discussion sets) found in the following course schedule.
What will be expected of you?
As a student in this course, you are expected to read the textbook, and complete any self-assessments, homework assignments, and online discussions. You may work through this course at your own pace, but at each stage, you should:
- Conscientiously read and reflect on the material
- Ask questions (via Canvas, e-mail, phone) of your instructor and fellow delegates on issues you don’t understand
- Complete and submit assignments per course schedule.
Learning Objectives
By completing this course, students will learn the overall process, including tools and techniques for planning, identifying, assessing, developing response plans for, and monitoring and controlling risks in project management. By the end of this course, you should be able to:
LO.1 Explain the nature and implications of uncertainty and risk in decision-making;
LO.2 Justify the need for risk management in project management;
LO.3 Identify appropriate risk management processes;
LO.4 Prioritize and numerically measure project risks; and,
LO.5 Develop risk-adjusted plans for project time and cost risks.
(Note: LO stands for ‘Learning Objectives.’)
Requirements and Grading
The following are the major assignments for this course:
Midterm Exam: 15%
- The midterm assignment is a hybrid of an online quiz (30 points) and a case study report (70 points).
- The online quiz consists of short essay questions, analysis problems, and multiple-choice questions.
- For the case study report, please compile your answers in a Word document and limit your answer to a total of about four pages (11 font-size, single-spaced).
Final Exam: 25%
- The final exam is a hybrid of an online quiz (70 points) and a case study report (30 points).
- The online quiz is comprised of short essay questions, analysis problems, and multiple-choice questions.
- The students will have two hours and thirty minutes to complete the online quiz.
- The instructor will grade the final exam.
Homework Assignments: 40%
Homework assignments are listed below for each unit. Most of the homework assignments are based on certain concepts or case studies in the textbook, please compile your answer in Word document and limit your answer to a total of about one page per problem (11 font-size, single-spaced).
Online Discussions and Participation: 20%
In addition to the completion and submission of these homework assignments, you should also review the course discussion forums and participate in the online discussion for that unit. Students are expected to participate in online activities and discussions. Because of the importance of discussion to meeting the objectives of the course, students also will be evaluated on the frequency and quality of their participation. This evaluation will be based on the level of preparation for class discussion and student analysis and integration of the assigned materials. Students are expected to communicate their ideas clearly and persuasively.
A maximum of 40 points can be earned for participation in each interactive session on the discussion forum during the semester. These sessions will be initiated and facilitated by your instructor. In addition to the major assignments, you will be asked to complete other activities throughout the course. These homework assignments are posted to the course Discussion Forum. For an initial list of assignments prior to the midterm session, see the course schedule. Please see the following chart with GUIDELINES for your performance on the online participation assignments:
|
Criteria |
Ratings |
||
|
Meaningful Contribution |
Excellent |
Good |
Needs Improvement |
|
Original contents; professional writing; sound analysis; effective communication. |
Overall, posts include: Integration of theoretical concepts and frameworks from course content (text materials, assigned readings, and/or lessons). Posts also include: Evidence that student has “gone digging” to find secondary sources that support ideas. Comments that enhance or promote the discussion. Comments that specifically address issues raised in other posts. Comments that offer work or life experiences that support ideas. |
Posts include following: Integration of some of the theoretical concepts and frameworks from course content (text materials, assigned readings, and/or lessons). Posts also include: Evidence that student cited some secondary sources that support ideas. Comments that relate to the discussion. Comments that relate to issues raised in other posts. Comments that provide certain work or life experiences that support ideas. |
Overall, posts show: No or little integration of theoretical concepts and frameworks from course content (text materials, assigned readings, and/or lessons). In addition, posts fit into one or more of the following categories: Merely opinion statements – “shooting from the hip.” Repeat a point made by another person. Do not enhance or promote the discussion. No evidence that student has “gone digging” to find secondary sources that support ideas. Very short – ranging from a few words to one/two sentences that do not include “the WHY.” |
|
Effective Contribution |
Timely and Steady Participation |
Delayed or Limited Participation |
Late Participation |
|
… Timely and steady (over two or more days) participation during the discussion period. |
Students post their first original argument/comment during the first half of the discussion period (typically during the first four days) AND present constructive, in-depth discussions or critiques on other students’ arguments during the discussion session (the last three days). |
Students post most arguments during the second half of the discussion period (typically during the last three days) OR the contribution is limited to a single day. |
Students post most arguments during the last 24 hours of the discussion period. |
Assignment Weights and Grading Scale
| Assignments | Weights towards the final grade |
|---|---|
| Homework Assignments | 40% (based on 320 points) |
| Midterm Assignment | 15% (based on 100 points) |
| Online Discussion & Participation | 20% (based on 280 points) |
| Final Exam | 25% (based on 100 points) |
| Total | 100% |
The Student’s final grade for the course will be based on the following overall percentage breakdown:
| Grade | Percentage Range |
|---|---|
| A | 93%-100% |
| A- | 89% – 92.9% |
| B+ | 85% – 88.9% |
| B | 80% – 84.9% |
| B- | 75% – 79.9% |
| C+ | 70% – 74.9% |
| C | 65% – 69.9% |
| D | 60% – 64.9% |
| F | <60% |
Grading Policy
Please refer to the University Grading Policy for Graduate Courses for additional information about University grading policies.
Deferred Grades
If, for reasons beyond the student’s control, a student is prevented from completing a course within the prescribed time, the grade in that course may be deferred with the concurrence of the instructor. The symbol DF appears on the student’s transcript until the course has been completed. Non-emergency permission for filing a deferred grade must be requested by the student before the beginning of the final examination period. In an emergency situation, an instructor can approve a deferred grade after the final exam period has started. Under emergency conditions during which the instructor is unavailable, authorization is required from one of the following: the dean of the college in which the candidate is enrolled; the executive director of the Division of Undergraduate Studies if the student is enrolled in that division or is a provisional student; or the campus chancellor of the student’s associated Penn State campus.
For additional information please refer to the Deferring a Grade page.