Course Title: Risk Management and Feasibility

Part A: Course Overview

Course Title: Risk Management and Feasibility

Credit Points: 12.00


Course Code




Learning Mode

Teaching Period(s)


City Campus


115H Aerospace, Mechanical & Manufacturing Engineering

Distance / Correspondence or Face-to-Face

Sem 1 2006,
Sem 2 2006,
Sem 1 2007,
Sem 2 2007,
Sem 1 2008,
Sem 2 2008,
Sem 1 2009,
Sem 2 2009,
Sem 1 2010,
Sem 2 2010,
Sem 1 2011,
Sem 2 2011,
Sem 1 2012,
Sem 2 2012,
Sem 1 2013,
Sem 2 2013,
Sem 1 2015,
Sem 2 2015,
Sem 1 2016,
Sem 2 2016


City Campus


115H Aerospace, Mechanical & Manufacturing Engineering

Distance / Correspondence or Face-to-Face or Internet

Sem 1 2014


City Campus


115H Aerospace, Mechanical & Manufacturing Engineering

Face-to-Face or Internet

Sem 2 2014


City Campus


172H School of Engineering

Distance / Correspondence or Face-to-Face

Sem 2 2017

Course Coordinator: Mr Allan McLay

Course Coordinator Phone: +61 3 99254416

Course Coordinator Email:

Pre-requisite Courses and Assumed Knowledge and Capabilities


Course Description

In this course you will study risk and the effect of technology on the management of risk. You will develop your ability to use a systematic and reasonably consistent method of deciding actions on the risks a system needs to handle. You will learn to identify, accept and prioritse risks within the constraints of a system. You will explore key aspects of risk management and integrate with the concept of feasibility in engineering projects and business development. You will examine project feasibility in three directions: market feasibility, financial feasibility and technical feasibility.  These three directions set the systematic process in which all key risks in a project can be identified and treated prior to any detrimental event happens.

Objectives/Learning Outcomes/Capability Development

This course contributes to the following Master of Engineering program learning outcomes:

1. Needs, Context and Systems

  • Identify and assess risks (including OH&S) as well as the economic, social and environmental impacts of engineering activities

2. Problem Solving and Design

  • Anticipate the consequences of intended action or inaction and understand how the consequences are managed collectively by your organisation, project or team
  • Develop and operate within a hazard and risk framework appropriate to engineering activities

3. Analysis

  • Comprehend and apply advanced theory-based understanding of engineering fundamentals and specialist bodies of knowledge in the selected discipline area to predict the effect of engineering activities

4. Professional Practice 

  • Understand the scope, principles, norms, accountabilities and bounds of contemporary engineering practice in the specific discipline
  • Apply systematic approaches to the conduct and management of engineering project



Course Learning Outcomes (CLOs)

Upon successful completion of this course you should be able to:

  1. Identify risks in engineering and project management and strategic decision making
  2. Apply the basic concepts and techniques of evaluating reliability and assessing risk
  3. Design, develop and implement a systems approach to identify business opportunities and risks of engineering projects and to develop strategies and plans to investigate, analyse and synthesise complex information, problems, concepts and theories for achieving the desirable outcomes
  4. Analyse and manage risks in an engineering project and technology-focused business environment and develop a plan of mitigation. Establish principles from concepts and develop standard processes for sustainable management
  5. Manage risk in technologically intensive organisations including those with an ever-changing technology base
  6. Adopt and elaborate innovative ideas and incorporate these into management processes

Overview of Learning Activities


Learning activities throughout the course include: Lectures, tutorials, presentations, group discussions, project work, and computer-based analysis exercises.

Overview of Learning Resources


All lecture Powerpoint slides, model answers of exercises in the lectures and tests in previous semesters are available from the RMIT Learning Management System. Multimedia files related to the topics will also be uploaded to the respective weekly folders. Except for lectures from guest lecturers (due to copyright restrictions), all lectures in this course will be recorded on Blackboard Collaborate. 

A list of journal articles and a reference text will be used as reading materials.  Copies of these articles can be obtained from RMIT Library journal subscriptions.

Overview of Assessment


X This course has no hurdle requirements.

☐ All hurdle requirements for this course are indicated clearly in the assessment regime that follows, against the relevant assessment task(s) and all have been approved by the College Deputy Pro Vice-Chancellor (Learning & Teaching).


Assessment item:  Assignment 1 (individual)
Weighting of final grade:  35%     
Related course learning outcomes:  1, 2, 4
Description:  A study of an adverse event and risk management prior to and following the event.

Assessment item:  Assignment 2 (group)
Weighting of final grade:  35%     
Related course learning outcomes:  3, 5, 6
Description:  A study of the feasibility of developing a sustainable complex engineering system with innovative characteristics. 

Assessment item:  Test
Weighting of final grade:  30%     
Related course learning outcomes:  4
Description:  Open book test. The test is an assessment of your analytical abilities in a time- and data-constrained situation to assess risks in the given engineering scenarios and systems quantitatively.