Project Risk Management

This unit develops students' expertise in managing project risks through systematic identification, analysis, and response planning. Students will evaluate risk management methodologies and their application within the broader project management context, aligned with industry standards and frameworks. The unit emphasises both qualitative and quantitative risk analysis techniques, enabling students to assess threats and opportunities, develop comprehensive risk management plans, and implement appropriate risk response strategies. Through critical evaluation of risk management processes and practical applications, students will learn to formulate effective risk management approaches that enhance project success. The unit is aligned with Project Management Body of Knowledge (PMBOK®) professional standards.

Learning Outcomes

On successful completion of this unit, students will be able to:

1. Analyse project risk management processes and methodologies in alignment with industry standards;
2. Assess and evaluate project threats and opportunities to determine their relative impact on project outcomes;
3. Critically review and implement tools and techniques for assessing and documenting risks and risk analysis (both qualitative and quantitative); and
4. Design comprehensive risk management plans that systematically responds to potential risks within complex project environments.