Course Title: Advanced Project Risk Management

Part A: Course Overview

Course Title: Advanced Project Risk Management

Credit Points: 12


Course Code




Learning Mode

Teaching Period(s)


City Campus


325H Property, Construction & Project Management


Sem 1 2015,
Sem 2 2015,
Sem 1 2016,
Sem 2 2016,
Sem 1 2017,
Sem 2 2017,
Sem 1 2018,
Sem 2 2018,
Sem 1 2019,
Sem 2 2019

Course Coordinator: Tayyab Maqsood

Course Coordinator Phone: +61 3 9925 2230

Course Coordinator Email:

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.

Course Description

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
• 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 ( ) 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:;ID=ln1kd66y87rc .