Course Title: Manage project risk

Part B: Course Detail

Teaching Period: Term2 2011

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
1 and 2

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 - Psychology of risk

Contractor’s risk

Assess risk management outcomes




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

This course is conducted in a cluster with Manage Construction Works and Manage Project Quality. A person studying in this course should refer to the Course Guide for Manage Construction Works for assessment task information.

Assessments used in this cluster of courses are designed for the student to demonstrate competence in the elements of 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

Assessment Matrix

Other Information

Clustered Courses:

Manage Project Risk, Manage Construction Works and Manage Project Quality are conducted as clustered courses. Refer to Assessment Tasks above for additional information. .

Competency requirements and Grading:

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. Observation of students performing work is used to confirm competency.

All assessments for this course must be completed to achieve CP (Competent with Pass) to pass this course. In any assessment 50% equates to being Competent with Pass.
Higher gradings are available. The final grade for the course is calculated taking into account the weighting given to the separate assessments.

Gradings available are:
CP - 50 to 59 - Competent with Pass, CC - 60 to 69 - Competent with Credit, CDI - 70 to 79 - Competent with distinction, CHD - 80 to 100 - Competent with High Distinction. NYC - 0 to 49 - Not Yet Competent

Course Overview: Access Course Overview