Explore project risk analysis in this 58-minute information session led by Stanford Professor Sam Savage. Learn about CEE242R, an online graduate course designed for working professionals seeking to balance theory with cutting-edge methods of project risk assessment using everyday desktop tools. Discover recent technological advancements enabling interactive risk simulation in native Excel, aggregation of simulation results, and the use of stochastic libraries for project uncertainties. Gain insights into real-world applications across various industries, including petroleum exploration, defense, engineering, IT, energy utilities, construction, pharmaceutical R&D, and gas pipeline operations. Understand key concepts such as uncertainty, risk, and probability through practical examples. The session covers topics like differential equations of motion, limbic analytics, recent breakthroughs in risk analysis, dice demonstrations, native Excel templates, project feasibility assessment, simulation techniques, forecasting, probability management, levels of stochastic enlightenment, and operational risk modeling.
Overview
Syllabus
Intro
Have you had at least one statistics course
You still suffer from PTSD
Differential Equations of Motion
Limbic Analytics
Project Risk Analysis
Two Recent Breakthroughs
Dice Demonstration
Native Excel Template
Will the project pay for itself
Small models are unrealistic
Simulations
Forecasting
Probability Management
Levels of Stochastic Enlightenment
Operational Risk
Risk Model
Questions
Taught by
Stanford Online
