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Unit of study_
PMGT5891: Strategic Risk Management
2025 unit information
Project risk management is the process of identifying, analysing and responding to any risk that arises over the life cycle of a project to help the project remain on track and meet its goal. The aim of this Unit of Study is to develop students' understanding and ability in applying risk management skills in project environments, such as: establishing risk management plans, policies, aligning them with the business strategy and integrating them with other project plans, and with the organisation; simulating the potential effects of risks on schedule, cost and other performance dimensions using sensitivity analysis, decision tree analysis and simulation techniques; and monitoring and controlling risks and actions to achieve project objectives and the business case.
Unit details and rules
Managing faculty or University school:
Engineering
| Study level | Postgraduate |
|---|---|
| Academic unit | Project Management |
| Credit points | 6 |
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Prerequisites:
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None |
|---|---|
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Corequisites:
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None |
| Prohibitions:
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PMGT6891 |
| Assumed knowledge:
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None |
At the completion of this unit, you should be able to:
- LO1. Establish risk management plans, policies and integrate them with other project plans, organisation and align them to the business case.
- LO2. Understand the sources of potential risks (including but not limited to political, organisational, psychological and technical risks) and to use risk management tools and techniques to identify, assess, evaluate, and prioritise risks
- LO3. Simulate the potential effects of risks on schedule, cost and other performance dimensions using sensitivity analysis, decision tree analysis and simulation techniques
- LO4. Track, monitor and control risks and actions to achieve project objectives and the business case
- LO5. Close risks for an optimal outcome.
Unit availability
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