Course Title: Manage project risk

Part B: Course Detail

Teaching Period: Term2 2010

Course Code: BUSM6154C

Course Title: Manage project risk

School: 130T Vocational Engineering

Campus: City Campus

Program: C5201 - Diploma of Building and Construction (Building)

Course Contact: Program Manager

Course Contact Phone: +61 3 9925 4468

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Nominal Hours: 40

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites


Course Description

This unit specifies the outcomes required to manage risk within a project in order to avoid adverse effects on project outcomes. It covers determining, monitoring and controlling project risks, and assessing risk management outcomes.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBPM508A Manage project risk


1. Determine project risks

Performance Criteria:

1.1 Identify, document and analyse risks, in consultation with
       stakeholders and higher project authority, as the basis for
       risk planning
1.2 Use established risk management techniques and
       tools, within delegated authority, to analyse risks,
       assess options and recommend preferred risk approaches
1.3 Develop risk management plans, secure agreement of
      stakeholders and communicate plans to ensure clarity of
      understanding and ongoing management of risk factors
1.4 Establish designated risk management processes and
      procedures to enable effective management and
      communication of risk events, responses and results


2. Monitor and control project risk

Performance Criteria:

2.1 Manage project in accordance with established project
      and risk management plans to ensure a common
      approach to the achievement of objectives
2.2 Monitor progress against project plans to identify
       variances and recommend responses to a higher project
       authority for remedial action
2.3 Implement agreed risk responses and modify plans to
      reflect changing project objectives in an environment of


3. Determine project risks

Performance Criteria:

3.1 Review project outcomes to determine effectiveness of
      risk management processes and procedures
3.2 Identify and document risk issues and recommended
      improvements, and pass on to higher project authority for
      application in future projects

Learning Outcomes

Details of Learning Activities

Students will learn through a number of planned activities (face to face classes, workplace/site visits, simulated workplace learning, online learning via blackboard and other forms of structured teaching and learning). Students will be observed and assessed through their planned activities throughout the duration of the course.

Teaching Schedule

SemesterTopic Content Delivery

Introduction to Risk Management
Risk Management Plan
Clients needs
Benefits of risk management
Contract disputes
Risk decision making
Techniques to manage risk
Human Factors in risk



Learning Resources

Prescribed Texts



GUIDELINES  Companion to AS/N1S4360:2004 
Risk Management Guide for Small Business (NSW) or similar teacher, to advise.

Other Resources

Overview of Assessment

The learner who demonstrates competence in this unit must be able to provide evidence that they have taken responsibility within projects for risks associated with the projects. This will include evidence of managing the work of others within the project team with respect to risk management within the project.

Assessment Tasks

There is one project based assessment (which may have a Part A and a Part B), and 2 learning outcomes tests. The culmination of all assessments contributes to the final result for this course.
Under special circumstances extension to assessment may be granted. Students are to follow RMIT Special Consideration Policy found in RMIT Policies and procedures link;ID=3g3whh1vttr0z;STATUS=A;SECTION=19;PAGE_AUTHOR=Chancellery (unresolved)

Assessment Tasks
Assessment 1 – Project Based Assessment
The project based assessments will focus on different elements of the learning activities and address the students ability to both problem solve and provide meaningful solutions to the practical exercises that cover: 
 - Risk Management Process/identification of risk and control measures. 

The project based assessments will have a weighting of up to 40% of the final overall assessment mark (final weighting will be advised by teacher).

Assessments 2 & 3 – Written Learning Outcomes Tests (closed book)
This written learning outcome tests will a cover elements 1 - 3
These tests will have weightings to be advised by the teacher.

The culmination of all assessments contributes to the final result for this course.
All assessments for this course must be completed to achieve CA (Competency Achieved) grade. (65% equates to being competent per assessment).
A competent grade for each assessment is required to pass this course..

Assessment Matrix

Other Information

Competency requirements:
To be deemed competent students must demonstrate an understanding of all elements of a competency. Assessment methods have been designed to measure achievement of each competency in a flexible manner over multiple tasks.
Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met.

All assessments for this course must be completed to achieve CA (Competency Achieved) grade. (65% equates to being competent per assessment). A competent grade for each assessment is required to pass this course..
Each assessment task will also carry a numerical weighting to be used for grading purposes. The grade applied to this weighting will only be awarded if a CA has been achieved in all compulsory assessment tasks.
If a student has been marked NYC (Not Yet Competent) in any of the assessment tasks, the weighting will carry no value until the student has obtained CA.
If a CA is achieved on re-assessment then a maximum mark of 50% of the original weighting will be granted for that assessment.

Course Overview: Access Course Overview