Course Title: Project Risk Management

Part A: Course Overview

Course Title: Project Risk Management

Credit Points: 12.00


Course Code




Learning Mode

Teaching Period(s)


City Campus


325H Property, Construction & Project Management


Sem 1 2012,
Sem 1 2013,
Sem 1 2014,
Sem 1 2015,
Sem 1 2016,
Sem 1 2017,
Sem 1 2018,
Sem 1 2019,
Sem 1 2020,
Sem 1 2021,
Sem 1 2022

Course Coordinator: Farshid Rahmani

Course Coordinator Phone: +61 3 9925 3434

Course Coordinator Email:

Course Coordinator Location: 8.7.60

Pre-requisite Courses and Assumed Knowledge and Capabilities

You should have satisfactorily completed the prerequisite course BUSM4168 Project Management Processes before you commence this course.


Alternatively you may be able to demonstrate the required skills and knowledge before you start this course.  Contact your course coordinator if you think you may be eligible for recognition of prior learning.  Further information:;ID=x94or0ccuu7k

Course Description

This course will develop your knowledge of risk management principles, processes and techniques. The objectives of this course are to provide you with the skills, knowledge necessary to: develop a robust risk management plan; utilise software for the purposes of risk analysis; and analyse and apply risk management industry standards to manage risk.

Objectives/Learning Outcomes/Capability Development

Program Learning Outcomes (PLOs)

In this course you will develop the following program learning outcomes:

  • Determine and apply knowledge of complex project management theory to your professional practice and/or further study
  • Professionally communicate to a range of audiences, demonstrating in depth knowledge of the discipline and of the needs of diverse project management stakeholders
  • Apply logical, critical and creative thinking to analyse, synthesise and apply theoretical knowledge, and technical skills, to formulate evidenced based solutions to industry problems or issues
  • Collaborate effectively with others and demonstrate intellectual independence and autonomy to solve problems and/or address industry issues and imperatives

Course Learning Outcomes (CLOs)

Upon successful completion of this course, you will be able to:

  1. Describe the fundamental principles of risk management and how these relate to the field of project management
  2. Analyse how risk management principles are enacted in diverse projects and project management contexts
  3. Select and apply risk management principles and processes to undertake a risk analysis
  4. Justify the determination of project risk
  5. Utilise risk analysis software to accurately determine risk

Overview of Learning Activities

Your learning in this course will consist of face to face lectures and workshops. Learning activities in this course will include class discussions, group work and computer based workshops.

Active and constructive participation in group discussions is expected. You will also be required to engage in reading of relevant literature and to carefully plan for assessment tasks.

Overview of Learning Resources

RMIT will provide you with resources and tools for learning in this course through our online systems. Learning resources will comprise a combination of lecture notes, workshop material, reading list and case study material.

You will be expected to utilise library and electronic resources (as well as any other appropriate resources) to engage in professional reading of relevant project management literature related to risk management

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 consists of:

Task 1: Group Assignment. The aim of this assignment is to understand and apply the concept of systematic project risk management to a project.  40% weighting.  CLOs 1-4.

Task 2: Individual Assignment.  The aim of this assignment is to apply several quantitative risk management and decision making (risk and uncertainty based) techniques to various scenarios. 30% weighting.  CLOs 3-5.

Task 3: Online individual test.   The aim of this in-class test is to evaluate student knowledge about the concept of systematic project risk management to a project and to apply several quantitative risk management and decision making (risk and uncertainty based) techniques to various scenarios. 30% weighting.  CLOs 1-5.

Feedback will be given on all assessment tasks.

Equitable Learning Services

Equitable Learning Services (ELS) provide support and equal opportunities for students with a disability, long-term illness and/or mental health condition and primary carers of individuals with a disability. You can contact the ELS if you would like to find out more: You can also contact the course coordinator or the program coordinator if you would like to find out more.

An assessment charter ( summarises your responsibilities as an RMIT student as well as those of your teaching staff.

Your course assessment conforms to RMIT assessment principles, regulations, policies and procedures which are described and referenced in a single document:;ID=ln1kd66y87rc.