TECHCOMM 5004 - Managing Project and Systemic Risk

North Terrace Campus - Semester 1 - 2015

This course addresses decision and risk analysis, methods for structuring and modelling decision problems, and application of methods to a variety of problems that involve risk and uncertainty related to the commercialisation of development of projects and commercialisation of new technologies. Monte Carlo simulation, design by risk, the concept of tolerance and phase-gate process are addressed. Students apply risk analysis tools to a commercialisation assessment problem or a project development. The context of the course is engineering, technology and information technology design and production, operations and processes, which include consulting, production, procurement, maintenance and logistics supply for technology based operations, including defence, construction, and manufacture, and IT provision for ongoing businesses, assessment of efficiency, risk and quality management, and related aspects.

  • General Course Information
    Course Details
    Course Code TECHCOMM 5004
    Course Managing Project and Systemic Risk
    Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre
    Term Semester 1
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Intensive - a minimum of 36 hours
    Available for Study Abroad and Exchange Y
    Assessment assignments, group & individual
    Course Staff

    Course Coordinator: Emeritus Professor Vernon Ireland

    Program Director Contact Details:
    Project Management
    Name: Professor Vernon Ireland
    Phone: +61 411 153 861
    Email: vernon.ireland@adelaide.edu.au

    Teaching Staff:

    Semester 1
    Name: Mike Salah – CPEng

    Master of Engineering Science (Sydney Uni)
    Grad Dip in Business Administration (AGSM)
    BSc in Civil Engineering (Manchester University)

    Short Bio:
    Mike is a civil engineer with over 10 years experience as a construction project manager prior to moving to Australia and gaining his Masters in Project Risk Management. For the past 18 years in Australia, Mike has specialised in assisting organisations in both the public and private sectors transform their project and risk management practices to achieve their business objectives and growth goals. His experience covers assisting organisations establish their enterprise and project risk management disciplines, project portfolio prioritisation models, setup and operate their projects & program offices, develop their project & risk management capabilities, review their major projects & improve their project management processes, and provide overall assurance through independent reviews, benchmarking and being part of wider audit teams.

    Mike is currently a Director in the PricewaterhouseCoopers Project Services team in Sydney, where is specialises in helping organisations improve their project and risk management maturity.

    Email: moukhlessalah@hotmail.com

    Semester 2
    Name:
    Kiran Hiriyanna

    BE, Mechanical, (University of Technology, Sydney) 
    CEng (Institute of Mechanical Engineers, London, UK)
    Grad Dip in Project Management (Defence and SYstems Institute, Univerity of South Australia)
    MBA (University of Adelaide)

    Short Bio:
    Kiran has a wealth of experience from working in Australia and the United Kingdom over the last fifteen years in the defence and infrastructure sectors. He has worked for large corporates such as Sydney Water, General Electric, Tenix, Airbus and Babcock. In his past roles, he has not only been a Project Manager, he has also been a risk management practitioner.   He is a Chartered Engineer and holds a formal project management qualification.  As such, his knowledge and application of risk management and systemic risk will underpin the delivery of your course. 

    He currently runs his own consultancy, the Tuareg Group, providing project management and operational advice to aged care facilities.  He also supplies and manages staff to aged care facilities under his company Aged Care Staff Services.  Largely, this change in focus was brought on by a desire to be involved in an altruistic sector.  Kiran has been able to combine the knowledge gained from his engineering degree and MBA (from the University of Adelaide) with his corporate experience to guide organisations to reach their strategic goals.

    He is looking forward to meeting and teaching you this semester.

    Email: 
    Kiran.hiriyanna@adelaide.edu.au
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

    Opening intensive:
    Thursday 19 & Friday 20 March 2015
    9am-6pm
    Nexus10, UB35, Seminar Rm 2B

    Closing intensive:
    Thursday 23 & Friday 24 April 2015
    9am-6pm
    Nexus10, UB35, Seminar Rm 2B
  • Learning Outcomes
    Course Learning Outcomes
    1 Identify the core types of project risks
    2 Use qualitative and quantitative risk assessment methods
    3 Competently use risk simulation techniques and other risk analysis tools/methods
    4 Competently work in a group to create a risk management plan based on the ISO 31000:2009
    5 Identify a range of risk management issues and challenges
    6 Identify the risks as complex systems cascade and be competent to initiate potential actions in response
    7 Demonstrate continued learning and personal development
    8 Recognise ethical, social and cultural issues and their importance for project managers
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised. 2, 4
    The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. 1
    An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 2
    Skills of a high order in interpersonal understanding, teamwork and communication. 4, 5
    A proficiency in the appropriate use of contemporary technologies. 2, 3
    A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 6, 7
    A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community. 7, 8
    An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities. 8
  • Learning Resources
    Required Resources

    The University’s preferred textbook supplier is Unibooks: http://www.unibooks.com.au/ 

    Available from the library but not required textbook: Bowden, A., Lane, M., and Martin, J., (2001), Triple Bottom Line Risk Management, Wiley.

    Recommended Resources
    There is a wide range of material on the course topic available. The following provides some additional reading guidance if you are interested in reading further on the topic.
    Chapman, Chris and Ward, Stephen 1997 Project Risk Management, Wiley
    Chorafas, Dimitris 2001 Managing Risk in the New Economy, New York Institute of Finance
    Clark, Kim & Wheelwright, Steven 1993 Managing new Product and Process Development, HBS
    Cooper, Robert 2001 Winning at New Products, 3rd Edition, Perseus Publishing, Cambridge Massachusetts
    Crawford, C Merle, and Di Benedetto, C Anthony 2000 New Products Management. Irwin McGraw-Hill
    Deschamps, Jean-Philippe and Nayak, P Ranganath 1995 Product Juggernauts, Arthur D Little
    Gray, Clifford & Larson, Erik 2000 Project Management, McGraw-Hill.
    Jolly Vijay 1997 Commercialising New Technologies, Harvard Business School Press
    McGrath, Michael 2001 Product Strategies for High Tech Companies, 2nd Edition, McGraw-Hill
    Pickford, James 2001 Mastering Risk, Volume 1: Concepts, Financial Times
    Smith, Preston G and Reinertsen, Donald 1995 Developing Products in Half the Time, Van Nostrand Reinhold
    Van de Ven, Andrew, Polley, Douglas, Garud, Raghu, & Venkataraman, Sankataran 1999 The Innovation Journey, Oxford UP
    Library Resources
    The University of Adelaide’s Barr Smith Library provides a range of learning resources including texts, journals, periodicals, magazines, and access to online databases and information services. It also offers a virtual library which is accessible via the University’s website. The University Library web page is: http://www.adelaide.edu.au/library/ 
    From this link, you are able to access the Library's electronic resources.

    Other resources
    If you are a member of the PMI (http://www.pmi.org/Membership.aspx) you will “gain exclusive access to PMI publications and our global standards*, networking options with our chapters and online communities of practice, and leadership and volunteer opportunities. You’ll also receive discounts on certification exams and renewals, as well as our professional development offerings.” Student membership is USD$40 to join and USD$30 to renew.

    * Log in to access complimentary read-only PDFs of all of PMI's published standards or take advantage of discounts on paperback editions
    http://www.pmi.org/PMBOK-Guide-and-Standards/Standards-Library-of-PMI-Global-Standards.aspx
    Online Learning
    MyUni is the University of Adelaide's online learning environment. It is used to support traditional face-to-face lectures, tutorials and workshops at the University. MyUni provides access to various features including announcements, course materials, discussion boards and assessments for each online course of study (see: https://myuni.adelaide.edu.au)
  • Learning & Teaching Activities
    Learning & Teaching Modes
    This course is offered in blended learning mode with the face-to-face component offered as intensives.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    As a guide, a 3 unit course comprises a total of 156 hours work (this includes face-to-face contact, any online components, and self directed study).
    Learning Activities Summary
    This is a draft schedule and session dates are a guide only. The timetable may be changed during the course delivery if necessary.
    Intensive Content Readings/Activities
    1 & 2 Introduction to Risk and why we need to Manage our Risks Text book, additional reading and the Risk Management Magazine *
    AS/NZS/ISO 31000:2009 – Risk Management Standard Text book, additional reading and the Risk Management Magazine *
    Summary – Applying the Risk Management Process Text book, additional reading and the Risk Management Magazine *
    Discuss Assignment 1; Examples and tools; Case Study Text book, additional reading and the Risk Management Magazine *
    3 & 4 Introduction; Project Selection (under uncertainty) Text book, additional reading and the Risk Management Magazine *
    Project Delivery and Execution Text book, additional reading and the Risk Management Magazine *
    Establishing effective Risk Management Text book, additional reading and the Risk Management Magazine *
    Discuss Assignment 2; Case Studies & additional examples Text book, additional reading and the Risk Management Magazine *
    * Risk Management Magazine http://newsletters.keymedia.com.au/5843.aspx 
    And www.rmmagazine.com 
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary

    An overview of the course assessment appears in the following Table. Details appear in the following section:

    #AssessmentLengthWeightingDue DateLearning Outcomes
    1 Group Assignment – Risk Management Plan Minimum 3,000 words
    & 15-25 Powerpoint slides
    30% See MyUni 1,2,5
    2 Individual Assignment – Risk Management Framework 4,000 words approx. 50% See MyUni 3,4,7,10
    3 Individual Assignment – Risk Management (additional task) 2,000 words 20% See MyUni 6,8,9
    Total 100%
    Assessment Related Requirements
    Students should attend all classes in order to pass the course. There is considerable experiential learning in workshops during the intensive classes that build your knowledge and thus enable you to be successful in this course.  

    Course results are subject to moderation by the ECIC Board of Examiners

    Appropriate use of the Internet in assignments

    The purpose of this document is to assist students with appropriate use of the material they have accessed on the Internet in assignments. The Internet is a wonderful source of information and sometimes students are not aware of how to use it properly. For example, a recent case had over 70% of words copied from over 20 other sources. Furthermore, many students think this is the appropriate use of the Internet.

    IT IS NOT.

    Due to an increasing number of students infringing the University’s Academic Dishonesty Requirements within the Master of Applied Project Management, a more rigorous method of checking assignments is used.

    There is a hierarchy of penalties, the lowest of which is the loss of some assignment marks and the student’s name being placed on the Faculty’s Academic Dishonesty Register for six months. This only occurs if I believe this occurred through error. The second level penalty is more significant which is loss of all marks for the assignment and being placed on the University’s Academic Dishonesty Register for the remainder of their time at the University. Even higher penalties can involve the University deciding the student should not graduate. This has occurred in the Master of Project Management.

    Appropriate use of the Internet is to include all directly copying of sections of other reports in ‘inverted comas’, as a quotation, and note the source of the quote. To include a group of words without use of inverted commas and without noting where the words came from is an example of academic dishonesty.

    Students may not be aware that the University has use of an international database called Turnitin in which all direct use of other material can be traced.

    On a more positive note students need to understand the points made in any paper they access on the Internet and integrate these thoughts into their argument rather than just copying large passages. Of course this takes more work but this is what tertiary education requires and, in the end, make students into better thinkers and more able to express their ideas in their assignments.

    Professor Vernon Ireland
    Director of Project Management
    Assessment Detail
    Assessment 1: Risk Management Plan (Group Assignment)
    Weighting: 30%
    Submission Details: Online through MyUni
    • Only submissions sent via MyUni will be accepted. If you fail to do so, you will receive no marks for your assignment.
    • Submit 3 files only (1 pdf file, 1 ppt file, and 1 excel file). Do not zip the files.
    • All filenames must be the SID of the group member submitting the file followed by the Assignment Title. For example:
    o A1164033 - Assignment 1.pdf
    o A1164033 - Assignment 1.xls
    o A1164033 - Assignment 1.ppt
    • The names and student Id’s of group members must be clearly marked on the first page of the Report and Presentation.
    • Failing to meet these rules may result in a penalty of up to 5% being imposed on your group’s assignment.

    Task:
    Form groups of 2 or 3 people and complete a risk analysis and management plan for a project of one of the members of the group. You may use the approach of AS/NZS/ISO 31000:2009, with the addition of Critical Success Factors, Targets and Tolerances, or Bowden, Lane and Martin’s approach.

    Length and Presentation:
    Submit a Powerpoint Presentation of 15-25 slides plus a Report (PDF) of at least 3,000 words outlining the study and the treatment plan (Excel file).

    Tips for completing the Group Assignment include:
    • Present the document in a clear, professional and concise format
    • Treat it as if you are addressing a client audience
    o Think of what information is important to the client
    o Use the correct language
    • Don’t make graphs too complex!
    • It is recommended that you follow the methods used in the lectures

    Criteria by which your assignment will be marked:
    1. Introduction to the project.
    2. Introduction to Risk Management method
    3. Application of Risk Management Process to the project
    a. Establish context
    b. Risk identification
    c. Risk analysis
    d. Risk evaluation
    e. Risk treatment (Treatment Strategy, Treatment Plan and Contingency Plan)
    f. Communication and consult
    g. Monitoring and review
    4. Use of Tools
    5. Presentation
    6. Conclusion / Summary of findings

    Overall Total - 100 Marks



    Assessment 2: Risk Management Framework (Individual Assignment)
    Weighting: 50%
    Submission Details: Online through MyUni
    • Only submissions uploaded via MyUni will be accepted. If you fail to do so, you will receive no marks for your assignment.
    • Submit 1 file only (1 pdf file). Do not zip the file.
    • The filename must be the SID of the student submitting the file followed by the Assignment Title. For example:
    o A1164033 - Assignment 2.pdf
    • The name and student Id must be clearly marked on the first page of the Report.
    • Failing to meet these rules may result in a penalty of up to 5% being imposed on the individual’s assignment.

    Task:
    From the list of articles below, and taking account of Chapters 10-17 of Bowden, Lane and Martin, write a Risk Management Manual for a company/environment of your choosing. The manual should be designed so that a Project Manager can effectively manage risks on project/s within the organisation. This Manual needs to state procedures to follow in conducting risk analyses and treatment.

    Articles for review
    • New products: Problems and Pitfalls, p 22-49, Cooper;
    • The impact of risk and uncertainties on financial institutions – Chorafas p3-24
    • Managing risk, Clifford Gray and Erik Larson, Project Management, Irwin 2000

    Length and Presentation:
    Submit a Report (PDF) between approx. 4,000 words. Tips for completing the Individual Assignment include:
    • Make sure you present it as a Manual
    • Write it specifically for a single company – Integrate information specific to the working environment
    • Roadmaps are important and diagrams should be explained!

    The “interpretation of the standard” should explain what a reader needs to do in each risk stage.

    Criteria by which your assignment will be marked:
    1. Introduction to Manual and Purpose
    2. Introduction to Risk Management importance
    3. Risk Management Roadmap
    4. Risk Management Process (summary of AS/NZS/ISO 31000:2009)
    5. Interpretation of this process to the context of the company
    6. Identification and description of recurring risks in the company
    7. Use of Tools and Templates throughout the manual
    8. Case Study (application of RM framework to a practical example)
    9. Questions / Answers / Contacts and Appendix

    Overall Total - 100 Marks



    Assessment 3: Risk Management Future Trends (Individual Assignment)
    Weighting: 20%
    Submission Details: Online through MyUni
    • Only submissions uploaded via MyUni will be accepted. If you fail to do so, you will receive no marks for your assignment.
    • Submit 1 file only (1 pdf file). Do not zip the file.
    • The filename must be the SID of the student submitting the file followed by the Assignment Title. For example:
    o A1164033 - Assignment 3.pdf
    • The name and student Id must be clearly marked on the first page of the Report.
    • Failing to meet these rules may result in a penalty of up to 5% being imposed on the individual’s assignment.

    Task:
    Purpose is to research future trends in the theory and application of Risk Management. This could be new ways or tools or technology to undertake the risk management process. Or new industries and sectors who are applying the risk management such as RM in Security, Anti-Terrorism, Sport, Wars.

    ‘This exercise requires wider research and reading such as The Australian newspaper (business section) or the Risk Management Magazine, or Harvard Business Review magazine.

    It is not a straight forward assignment, it requires wider reading and research, comparable to a masters degree.’

    [See links in Learning Resources. Harvard Business Review can be viewed throught the Library’s online publications]

    Length and Presentation:
    Submit a Report (PDF) approx. 2,000 words.

    Criteria by which your assignment will be marked:
    1. Innovativeness and creativity of the subject of the research Subject – 5 Marks
    2. Relevance and importance of the research – 5 Marks
    3. Presentation and writing quality of the research paper – 10 Marks

    Overall Total - 20 Marks
    Submission
    All text based assignments must be submitted via MyUni.
    Please refer to step by step instructions: http://www.adelaide.edu.au/myuni/tutorials/files/AssignmentStudentSubmission.pdf

    There are a few points to note about the submission of assignments:
    • Assignment Submission:  Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both). Note that assignments may be processed via TURNITIN, which is an online plagiarism prevention tool.
    • Cover Sheet:  Please submit, separate to your assignment, the completed University of Adelaide Assessment Cover Sheet providing details of yourself and your team members (if applicable), your assignment, the course, date submitted, etc. as well as the declaration signed by you that this is your (your team’s) work.  Note that the declaration on any electronically submitted assignment will be deemed to have the same authority as a signed declaration.
    • Backup Copy of Assignments:  You are advised to keep a copy of your assignments in case the submitted copy goes missing.  Please ensure that all assignment pages are numbered. If your assignment contains confidential information, you should discuss any concerns with the Course Lecturer prior to submission.
    • Extensions of Time:  Any request for an extension of time for the submission of an assignment should be made well before the due date of the assignment to the Course Lecturer.  Normally, extensions will only be granted for a maximum of two weeks from the original assignment submission date.  Extensions will only be granted in cases of genuine extenuating circumstances and proof, such as a doctor’s certificate, may be required.
    • Failure to submit: Failure to submit an assignment on time or by the agreed extension deadline may result in penalties and may incur a fail grade.  Note that a late penalty of 5% of the total available marks for that assessment item will be incurred each day an assignment is handed in late (Unless otherwise stated in 'Assessment Related Requirements' or 'Assessment Detail' above) Assignments handed in after 14 days from the due submission date will fail even if a 100% mark is granted for the work.

    Resubmission & Remarking

    Resubmission of an assignment for remarking after reworking it to obtain a better mark will not normally be accepted.  Approval for resubmission will only be granted on medical or compassionate grounds.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

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    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

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  • Policies & Guidelines
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