Course Title: Advanced Project Risk Management
Part A: Course Overview
Course Title: Advanced Project Risk Management
Credit Points: 12
325H Property, Construction & Project Management
|Sem 1 2015,
Sem 2 2015,
Sem 1 2016,
Sem 2 2016,
Sem 1 2017,
Sem 2 2017
Course Coordinator: Tayyab Maqsood
Course Coordinator Phone: +61 3 9925 2230
Course Coordinator Email: email@example.com
Pre-requisite Courses and Assumed Knowledge and Capabilities
From 1 January 2016
Enforced Prerequisite: 003014 Evaluating and Managing Project Risk
Prior to 2016
You should have satisfactorily completed the prerequisite course BUSM1276: Evaluating and Managing Project Risk before you commence this course.
This course assumes that you are proficient in the use of spreadsheet software including, Microsoft Excel, and project planning software, such as Microsoft Project.
Comprehensive and effective risk management processes are vital for effective project management. To remain competitive in the local and global business environment, industry professionals need to acquire and apply specialised risk management knowledge to achieve insightful and robust risk assessments. This course will develop the skills and knowledge required to enable you to address complex and challenging risks and uncertainties that arise in project management. You will develop and refine specialised knowledge and skills in this emerging field, consolidating and expanding your knowledge of quantitative project risk analysis. You will acquire the skills and knowledge required to utilise project evaluation techniques to ensure effective risk management. Further, you will apply contemporary risk management theory and practice, and utilise research strategies and tools, to analyse and appraise the economic status of projects whilst accounting for risk and perform risk-based scheduling for projects.
Objectives/Learning Outcomes/Capability Development
For students enrolled in MC210 this course will develop the following program learning outcomes:
1. Determine and apply knowledge of complex project management theory, principles and best practice to applied projects to contribute to the profession and discipline of project management
2. Critically analyse, synthesise and reflect on project management theory and recent developments, both local and international, to extend and challenge knowledge and practice
4. Apply the specialist knowledge and technical skills required to creatively address the diverse needs of project stakeholders, formulating innovative solutions and demonstrating independent and sound decision making related to your professional practice and the discipline
7. Utilise specific research and technical skills to strategically develop and implement project management strategies and solutions that are responsive to complex sustainable and economic theories and enhance project value, delivery and governance
Upon successful completion of this course, you will be able to:
• Model risk parameters and chart probability distributions
• Compare and apply advanced risk management tools to undertake a quantitative risk analysis.
• Utilise complex risk-based economic evaluation techniques to determine and evaluate project feasibility
• Apply specialised software technologies to perform risk-based scheduling for diverse local and global projects
• Analyse and synthesise contemporary research and project management theory and apply qualitative and quantitative risk evaluation methods to complete a risk analysis for complex projects
Overview of Learning Activities
The course consists of a series of lectures and seminars. In seminars you will be engaged in hands-on interactive class activities, group discussions and computer based workshops.
Overview of Learning Resources
RMIT will provide you with resources and tools for learning in this course through our online systems.
As part of the learning in this course you will be directed to lecture notes and other related information through links in MyRMIT. Resources you will utlise in this course include lecture notes, case studies, software packages and library resources.
Overview of Assessment
You will be assessed on how well you meet the course’s learning outcomes and on your development against the program learning outcomes.
Assessment may include, but is not limited to, written report(s), individual/group assignments, and/or in-class presentations.
Feedback will be provided on all assessment tasks.
If you have a long term medical condition and/or disability it may be possible to negotiate to vary aspects of the learning or assessment methods. You can contact the program coordinator or the Disability Liaison Unit if you would like to find out more.
An assessment charter (http://mams.rmit.edu.au/kh6a3ly2wi2h1.pdf ) summarises your responsibilities as an RMIT student as well as those of your teachers.
Your course assessment conforms to RMIT assessment principles, regulations, policies and procedures which are described and referenced in a single document: http://www.rmit.edu.au/browse;ID=ln1kd66y87rc .