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SDIM71-201: Risk Management

Description

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.

Subject details

Type: Postgraduate Subject
Code: SDIM71-201
EFTSL: 0.125
Faculty: Faculty of Society and Design
Semesters offered:
  • May 2022 [Standard Offering]
Credit: 10
Study areas:
  • Business, Commerce, and Entrepreneurship
  • Construction, Property, and Planning
  • Project Management and Innovation
Subject fees:
  • Commencing in 2021: $5,320.00
  • Commencing in 2022: $5,380.00
  • Commencing in 2023: $5,520.00
  • Commencing in 2021: $5,570.00
  • Commencing in 2022: $5,570.00
  • Commencing in 2023: $5,710.00

Learning objectives

1. Show competency in project scope and risk management; 1. Show competency in project scope and risk management; 2. Make scope decisions in the face of uncertainty; 2. Make scope decisions in the face of uncertainty; 3. Apply techniques for risk identification, analysis and treatment; 3. Apply techniques for risk identification, analysis and treatment; 4. Demonstrate the treatment of risk in strategic business decision-making; 4. Demonstrate the treatment of risk in strategic business decision-making; 5. Gain insight into the scientific assessment of project execution risks. 5. Gain insight into the scientific assessment of project execution risks.

Enrolment requirements

Requisites:

Nil

Assumed knowledge:

Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.

Restrictions:

Subject dates

  • Standard Offering
    Enrolment opens: 20/03/2022
    Semester start: 16/05/2022
    Subject start: 16/05/2022
    Cancellation 1: 30/05/2022
    Cancellation 2: 06/06/2022
    Last enrolment: 29/05/2022
    Withdraw - Financial: 11/06/2022
    Withdraw - Academic: 02/07/2022
    Teaching census: 10/06/2022
Standard Offering
Enrolment opens: 20/03/2022
Semester start: 16/05/2022
Subject start: 16/05/2022
Cancellation 1: 30/05/2022
Cancellation 2: 06/06/2022
Last enrolment: 29/05/2022
Withdraw - Financial: 11/06/2022
Withdraw - Academic: 02/07/2022
Teaching census: 10/06/2022