SDIM71-201: Risk Management

Making effective decisions in the context of uncertainty is vital to all aspects of a project's life cycle. This subject explores the link between project scope and risk management with particular emphasis on the implementation (executing) phase of delivery. A comprehensive study of the identification, measurement, pricing and management of risks encountered in delivering large and complex projects is fundamental to the level of project performance. Key topics include: mitigation and contingency planning; dealing with uncertainty; disaster planning and recovery; risk identification, management and communication; change management (including scope change and creep); emergent risks; use and development of risk registers; use of risk software; and organisational risk management systems (including human safety). A novel simulation game is employed to test students ability to exercise good judgement in realistic life and death scenarios. The importance of proper scope definition, change and validation to maximise stakeholder satisfaction are reinforced via case studies.