This module introduces students to the opportunities, developments, and challenges of project risk management leveraging risk modelling with fundamental qualitative and quantitative techniques and tools. This module will give students an understanding of the role of risk planning, risk identification, risk monitoring and control, and modelling and simulation in the development and improvement of project management and risk control in a commercial environment. Important elements include qualitative methods of risk identification and management and analytical techniques of systems, statistical aspects of modelling and project dynamics. Extensive use will be made of a variety of commercially available modelling and simulation tools such as Excel and Witness.