In this course, participants will develop the requisite knowledge and skills to identify and classify complex aspects of risk management within a project. Project teams will learn how to plan, control and review risks associated with a project and develop appropriate risk mitigation strategies. The project risk planning process and its position within the overall management function is considered. The unit addresses the conduct of control activities in accordance with the ISO 31000: 2009 Standard and other relevant industry-based Risk Management Standards. 

Unit details

Location:
Footscray Park
VU Sydney
Study level:
Postgraduate
Credit points:
12
Unit code:
EPM5740

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Learning Outcomes

On successful completion of this unit, students will be able to:
  1. Conceptualise what risk management is and make risk identification an integral component of decision-making in projects;  
  2. Discern threats and opportunities and conceptually map their relative importance in the project;  
  3. Critically apply tools and techniques to assess, quantify, qualify, prioritise and document risks;  
  4. Analyse risks as a part of risk assessment activities and construct a risk management plan; and  
  5. Critically examine and evaluate the responsibilities of personnel assigned to manage, monitor and control project risks.  

Assessment

Assessment type Description Grade
Assignment Project Risk Assignment & Presentation 60%
Examination Final Examination (2 hours) 40%

Required reading

Essentials of risk management 1st ed.
Crouhy, M. Galai, D. & R. Mark., (2006)
McgGraw-Hill Publishing Company

Risk Management 1st ed.
Hopkin, P., (2010)
Dewey Publications

Risk Management in Projects 2nd ed.
Loosemore, M. Raftery, J. Reilly, C. & Higgon, D., (2012)
Routledge

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