Engagement at RMIT
Engagement at RMIT is where you provide a project to students that is undertaken on campus.
Take various forms and may also use the simulated business spaces in Building 80 (SAB). These spaces include:
RMIT Trading Room
Replicates a large bank or corporate treasury centre and is equipped with a variety of financial analysis packages used by practitioners in the real world, providing information on bonds, bills, foreign exchange, share prices and current local and international market news.
Simulated Business Space
A virtual enterprise, sometimes known as a ‘practice firm’, operates in conjunction with a mentor from a real-life company in a virtual economy. Vocational Education students use it to confront the issues, processes and challenges of competitive business without having to produce real goods and services.
Vocational Education Advertising Marketing and Public Relations student plan and execute campaigns for assessment as well as for real-life clients.
Industry-based projects are generally conducted in the context of a course devoted to Work Integrated Learning (WIL). They may range from market or other business research projects; analyses of business problems and proposed solutions; suggested improvements and reviews of business procedures or any other form of substantial project in which the student works in close liaison with industry. These projects expose students to real life industry situations and call upon students to apply their academic skills to these situations.
One very successful industry based project is the RMIT Fastrack Innovation Program which has been running for nine years. This unique program allows RMIT students to work with industry in developing innovative solutions to commercial and/or social problems.
Solve Actual Problems
Industry projects are designed to help solve actual problems or achieve goals desired by individual organisations. This requires students to be able to work with the company to identify the problem or goal, conduct research into possible solutions and assess the feasibility of each before selecting the best. Students may also be asked to design an implementation plan. Examples of projects include: improving work processes and thus productivity by 40% in a government department; increasing customers at a local restaurant by 25% and developing a new marketing plan for a retailer who was facing increased competition.
Employers participating in these projects have praised students for the thoroughness of their work, the financial benefit of the proposed solution and the freshness of students’ ideas. The projects provide strong evidence of the students’ ability to utilise their academic knowledge and skills to add value to an organisation.