Project & Risk Management

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Module Title: Project & Risk Management

  • Type of Module:

PC (Prescribed Core Module)


PS (Prescribed Stream Module)

ES (Elective Stream Module)

E (Elective Module)

  • Level of Module: Postgraduate


  • Year of Study


  • Semester


  • Number of credits allocated

  • Name of lecturer / lecturers : Dr Panayotis Vassilakis

  • Description :
  • This course comprises basic knowledge for Financial and Management Engineers and it is believed that it will characterise the Financial and Management Engineer profession in the future. The project life cycle, organisational structures and related mechanisms, project network, project scheduling, PERT method, resource planning, techno-economical approaches, project budget planning, cost – time balancing, CPM method, project follow up, scheduling control, specific software exercises (MS Project), follow up and controlling of research or partly financed projects, are the most important concepts introduced during this course. The course also includes a considerable number of case studies as well as small projects carried out by students’ teams.
  • Prerequisites : None

  • Module Contents ( Syllabus) :




Ø The Fundamentals of Project Management, nature and characteristics of Projects..


Ø Project Life-Cycle, Approaches to managing project activities, Project management triangle, management of design, development & deployment.


Ø Scope of Project, Introduction to Work Breakdown Structure, modeling or real cases, presentation of OBS.


Ø Schedule planning, modeling, time constraints, resolution with CPM method, the GANTT charts, presentation of real-cases


Ø Exploring complex problems of schedule development and time optimization, familiarization with the MS-Project


Ø Uncertainty management with PERT method, and simple simulation models


Ø Planning, implementation and monitoring of Project Budget, managing the Project-cost, optimization methods


Ø Handling concurrently schedule and budget, decision making based on Earned-Value Analysis.


Ø Resource planning, resource leveling and exploration of alternative solutions using MS-Project.


Ø Implementation of Statistical Quality Control Methods in Project Management


Ø Risk management approaches in Project Management, and uncertainty handling, Developing a Risk Assessment Plan, design of contingencies


Ø Closing the Project, procedures and types of termination.


Ø Review of real-cases using MS-Project. Two typical cases are presented, (1) The construction of a complex building, (2) The design and deployments of an ERP System.

  • Recommended Reading :

Α) Principal Reference :

H. Maylor Project Management, Klidarithmos Editions (Translated into Greek)

Shtub Avraham, Project Management, Epicentro Editions (Translated into Greek)

Β) Additional References :

Other related references:

· Jack R. Meredith, Samuel J. Mantel Jr., (2008) Project Management: A Managerial Approach, Wiley

· Harold Kerzner (2009) Project Management Case Studies, Wiley

  • Project Management Body of Knowledge , PMI, 2008, Project Management Institute, USA.
  • Project Management: Processes, Methodologies, and Economics (2nd Edition) , Shtub, A., Bard, J. and Globerson, S. 2004, Prentice Hall, USA.

  • Teaching Methods :

In class teaching, case study discussions

  • Assessment Methods :

- Final exam 100%


  • Language of Instruction: Greek

Module Objective (preferably expressed in terms of learning outcomes and competences):

· Understanding (1) Of basic concepts referring to Project Management strategy design, development and deployment, (2) Of utilization of project management tools, and techniques referring to schedule and cost constraints, (3) Of design and monitor Projects using MS-Project tools.

· Emphasis on the proper use of methods and tools for the development of a Risk Assessment Plan.

· Application of the above in solving real-world problems.

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