TECHCOMM 5004 - Managing Risk

North Terrace Campus - Semester 2 - 2014

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 Risk
    Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre
    Term Semester 2
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Intensive - a minimum of 36 hours
    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

    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

    Teaching Staff: 
    Kiran Hiriyanna

    Short Bio:
    Bachelor of Engineering in Mechanical Engineering (BS Mech), Chartered Member of Institute of Mechanical Engineers,
    Master of Business Administration (MBA), Masters of Philosophy, (MPhil),
    Kiran is a Project Manager with over 15 years in the defence sector. He has also worked in the water supply and waste water sector. In addition, he has solid experience in the management of design projects in the vehicle, aerospace, rail and naval sector. Kiran’s career started at Sydney Water in the state where he was born and schooled. A change in sector bought him to South Australia to work for Tenix Defence. His career then took him to the United Kingdom, where he gained invaluable experience working for Airbus. He was integral to the development of recently released military and commercial aircraft such as the A400M and A380. More recently, Kiran has been heavily involved in various naval projects in Australia, working for Babcock.

    Kiran’s recent experience has provided him with invaluable commercial and project management experience, required to make astute decisions within the Australian business landscape. The projects involved maintenance management of the Collins Class submarines and the delivery of state of the art weapon system for the AWD. Kiran has also successfully led major bids for sustainment of warships. Bids differ to standard delivery projects given the amount of variables which must be contained within the short response time.

    Kiran’s career has provided him with exposure to many areas of corporate process. As such, he developed an interest in corporate social responsibility. His MPhil focuses on how organisations can contribute to sustainability without deteriorating their bottom line.

    Email: 
    Kiran.hiriyanna@adelaide.edu.au

    Phone:
    8313 2561
    Course Timetable

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

    Opening intensive: 
    Thursday 31st July & Friday 1st August 2014
    9am-5pm
    Masonic Hall B02 Seminar Room East

    Closing intensive:
    Monday 22nd & Tuesday 23rd September 2014
    9am-5pm
    Masonic Hall B02 Seminar Room East
  • Learning Outcomes
    Course Learning Outcomes
    1 Knowledge and understanding of advanced risk management techniques
    2 Be competent to systematically identify the sources of risk in a new venture, a new product or a project & to analyse, quantify and prioritise risks impacting on a project
    3 Understand the use of risk as a design tool
    4 Ability to locate, analyse, evaluate and synthesise information from stakeholders
    5 Ability to recognise risks and to develop project solutions both individually and in teams
    6 Provide leadership in project teams
    7 Understanding of contemporary technologies in managing risk including real options
    8 Recognition of the need to continue professional development and intellectual curiosity in managing risk
    9 Develop willingness to contribute skills in managing risk to community projects
    10 Understanding of the need to maintain ethical, social and cultural standards on projects
    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. 1-3
    The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. 4
    An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 5
    Skills of a high order in interpersonal understanding, teamwork and communication. 6
    A proficiency in the appropriate use of contemporary technologies. 7
    A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 8
    A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community. 9
    An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities. 10
  • 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 
    Specific Course Requirements
    None
  • 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:
    Assessment No. Form of Assessment/Collaborative Task Length (in word count) Weighting Due Date Learning outcomes covered (see 2.1 for detail)
    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 must complete all course assessment requirements and must attend lectures to be eligible to pass the course.

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

    Assessment Detail
    See MyUni
    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 section 5.2 or 5.3) Assignments handed in after 14 days from the due submission date will fail even if a 100% mark is granted for the work.
    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.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    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.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

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