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Unit of study_

PMGT6891: Risk Dynamics and Resilience

Projects are inherently uncertain as they require planning in the present for action to be taken in the future. Such uncertainty gives rise to both risk and opportunity. This unit of study provides a broad and contemporary coverage of the dynamic nature of risk and the need for project and organisational resilience to deal with risk and benefit from opportunity. Against a background of risk management theory, industry standards and practice, students will be provided with opportunities to reflect upon and share their experiences as a basis for developing their skills in identifying and dealing with project risk and making informed decisions aligned with organisational strategy and risk appetite. Integrated qualitative and quantitative approaches for identification, analysis, prioritisation, mitigation, monitoring and response to risk will be covered. Assessment will include opportunities to draw upon work based examples.

Code PMGT6891
Academic unit Project Management
Credit points 6
Prerequisites:
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None
Corequisites:
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None
Prohibitions:
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PMGT5891

At the completion of this unit, you should be able to:

  • LO1. simulate the potential effects of risks on schedule, cost and other performance dimensions using various techniques
  • LO2. track, monitor & control risks & actions to achieve project objectives & the business case
  • LO3. close risks for an optimal outcome
  • LO4. establish risk management plans, policies & integrate them with other project plans, organisation & align them to the business case
  • LO5. understand the sources of potential risks (including but not limited to political, organisational, psychological and technical risks) and use risk management tools & techniques to identify, assess, evaluate, & prioritise risks.