Project Risk Management

Unit code: EPM5740 | Study level: Postgraduate
(Generally, 1 credit = 10 hours of classes and independent study.)
Footscray Park
VU Sydney


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 International Organization for Standardization (ISO) 31000: 2018 Standard and other relevant industry-based Risk Management Standards.

Learning Outcomes

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

  1. Interrogate and implement project risk management processes as an integral component of wider project management;
  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.


For Melbourne campuses

Assessment type: Presentation
Grade: 20%
Class Presentation (multiple items including 3% in week 2)
Assessment type: Project
Grade: 40%
Group Project
Assessment type: Case Study
Grade: 40%
Written submission (2000 words approx)

Required reading

Further reading material will be provided by the instructor in class or through VU Collaborate.

A Guide to the Project Management Body of Knowledge
(PMBOK® GUIDE) (2017)| Project Management Institute

As part of a course

This unit is studied as part of the following course(s):

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