City University London has launched a new MSc in Project Management, Finance and Risk to meet the changing nature of capital goods supply and use. Recently manufacturers have recognised the need to sell maintenance and support services instead of just the goods, which demands a new style of ‘performance-based’ contracts.
The MSc is, said the university, the first of its kind to offer training needed for financial engineering and risk analysis to price, manage, and service the new contracts.

As major capital projects are evaluated on cost and revenue streams, both manufacturers and project managers need training to combat the uncertainties and risks in their projects.

Launching in September 2009, the MSc in Project Management, Finance and Risk will teach students to design appropriate models for risk sharing, and learn about the financial tools available, to ensure the best performance of their projects.

'Those managing major projects need to measure and handle the uncertainty and risk in a volatile economic climate, to control costs and avoid catastrophe,' said Martin Newby, professor of Statistical Science at City University London.

'City's MSc gives a strong basis in risk management that is transferable to all industrial sectors.'

In addition to planning for risk and decision making, the course provides practical skills in programming, software and graphical tools.

The course includes the following modules:

Managing risk and uncertainty

Optimisation and decision making

Lifecycle engineering

Financial engineering and project planning

Communication and presentation

Programming and software packages

The MSc in Project Management, Finance and Risk can be studied full-time or part-time.

For more information about the MSc and scholarships visit: www.city.ac.uk/study/courses/engineering-maths/project-management-finance-risk-msc