PROJMGNT 5004 - Managing Project and Systemic Risk
North Terrace Campus - Trimester 3 - 2017
General Course Information
Course Code PROJMGNT 5004 Course Managing Project and Systemic Risk Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre Term Trimester 3 Level Postgraduate Coursework Location/s North Terrace Campus Units 3 Contact Intensive: 36 to 40 hours Available for Study Abroad and Exchange Y Course Description This course addresses recognition of risks and risk analysis, methods for researching, identifying, managing and communicating results for project risks, using ISO31000 for systems and project risk, and for systemic and cascading risk using international best practice Monte Carlo simulation, design by risk, the concept of tolerance and phase-gate process are addressed and competencies developed in participants. The course addresses systemic and cascading risk. The outcome is competence to lead or participate in a risk management team.
Course Coordinator: Associate Professor Indra GunawanTeaching Staff:
Summer School, Trimester 1, Semester 1
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)
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.
Name: John Sing
As an Adjunct Associate Professor and Business Consultant, John develops and delivers academic and professional development programs for both the public and private sector. Prior to establishing a small consultancy firm, John had worked for as an executive within the Queensland Public Sector where he was responsible for leading and implementing the Government’s financial and economic reform agenda. This included overseeing the organizations transition from cash based to accrual accounting, financial and management
reporting to the CEO and governing board of directors, and project and risk management at the strategic and operational levels. John has conducted numerous management, leadership, risk, financial and project management courses for industry. He was recruited after having been a full-time academic where he has researched and taught at both undergraduate and postgraduate levels in the domains of
financial accounting, auditing, project and risk management. He is currently involved in the development and delivery of specialized project and risk management programs for finance and engineering professionals working in capital intensive project based organizations. Following the attainment of his Bachelor degree in accounting, John obtained a Doctoral degree in risk from Southern Cross University. He also holds a Master of Accounting degree, Post graduate degree in Education and a Bachelor of Business degree in Accounting.
Emeritus Professor Vernon Ireland
Work Phone: 0411 153 861
Personal Link: http://www.adelaide.edu.au/directory/vernon.ireland
After completing his engineering degree Professor Vernon Ireland practised as a structural engineer for seven years while completing an arts degree in English literature, psychology, philosophy and sociology and also completed a Master of Engineering Science degree and a Ph.D. in Project Management later.
He rose to the position of Professor and Dean of the Faculty of Design, Architecture and Building at the University of Technology, Sydney and occupied this position from 1987-1991. While at UTS he used some tools from his PhD research to compare the performance of Australia’s construction industry with that of the USA, Canada, United Kingdom, Germany, Sweden and New Zealand, surveying over 20 projects in each country. This work was eventually fed into the results of a Royal Commission on Productivity in the Building Industry of New South Wales. In this period he was also Chairman of the Building Services Corporation, the licensing authority for domestic building, and Electrical and plumbing work in New South Wales.
He then spent the next 12 years in the commercial sector as Corporate Development Director of Fletcher Challenge Construction, working mainly in the USA. He then became chief executive of the Australian Graduate School of Engineering Innovation. Finally he was appointed Professor and Director of Project Management at the University of Adelaide with the task of establishing the Master of Project Management, which has directed since 2003. He introduce complex systems into ECIC which has both contributed to the Master of Applied Project Management and created a bridge with the innovation and entrepreneurship in both teaching and research. He publishes in recognised journals.
He has received three medals: the Silver Magnolia medal from the Shanghai government for contributions to Chinese overseas relationships; the rotary gold medal for contribution to vocational education and the engineer’s Australia medal for contribution to engineering.
He was President of the Sydney Division of Engineers Australia in 2004 and initiated the Centre of Engineering Leadership and Management. He supervises a number of Ph.D. students who are researching the role of complex systems in various diverse areas including disaster preparation and management, dispute resolution between warring nations, a complex adaptive systems and security management of events.
The full timetable of all activities for this course can be accessed from Course Planner.Opening intensive:
Thursday 26th & Friday 27th September 2017
9am to 6pm
Napier, 210, Teaching Room
Thursday 7th & Friday 8th November 2017
9am to 6pm
Napier, 210, Teaching Room
Course Learning Outcomes
On successful completion of this course, students will be able to:
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 and work in a group to create a risk management plan based on the ISO 31000:2009; 4 Identify a range of risk management issues/challenges and the risks as complex systems cascade and be competent to initiate potential actions in response; 5 Demonstrate continued learning and personal development; 6 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) Deep discipline knowledge
- informed and infused by cutting edge research, scaffolded throughout their program of studies
- acquired from personal interaction with research active educators, from year 1
- accredited or validated against national or international standards (for relevant programs)
1-6 Critical thinking and problem solving
- steeped in research methods and rigor
- based on empirical evidence and the scientific approach to knowledge development
- demonstrated through appropriate and relevant assessment
1-4 Teamwork and communication skills
- developed from, with, and via the SGDE
- honed through assessment and practice throughout the program of studies
- encouraged and valued in all aspects of learning
3 Career and leadership readiness
- technology savvy
- professional and, where relevant, fully accredited
- forward thinking and well informed
- tested and validated by work based experiences
1,2,5,6 Intercultural and ethical competency
- adept at operating in other cultures
- comfortable with different nationalities and social contexts
- able to determine and contribute to desirable social outcomes
- demonstrated by study abroad or with an understanding of indigenous knowledges
5,6 Self-awareness and emotional intelligence
- a capacity for self-reflection and a willingness to engage in self-appraisal
- open to objective and constructive feedback from supervisors and peers
- able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
Recommended but not required textbooks:
Marchetti, A.M. (2012), Enterprise Risk Management, Best Practices, Wiley.
Bowden, A., Lane, M., and Martin, J., (2001), Triple Bottom Line Risk Management, Wiley.
Recommended ResourcesThere 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. Hardy, Karen 2015 Enterprise Risk Management, Wiley Jolly Vijay 1997 Commercialising New Technologies, Harvard Business School Press Louisot, J-P and Kethcam Christopher 2014 Enterprise Risk Management - Issues and case studies, Wiley 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 ResourcesOther 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. Access to the Library's electronic 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.
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Online LearningMyUni 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.
Learning & Teaching Activities
Learning & Teaching ModesThis course is offered in blended learning mode with the face-to-face component offered as intensives.
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 SummaryThis 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 * 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; Presentation of Assignment 2, Project Selection (under uncertainty) Text book, additional reading and the Risk Management Magazine * Systemic Risk; Enterprise Risk; Complex Systems; Health and Safety Risk 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; Assignment 3; Case Studies & additional examples Text book, additional reading and the Risk Management Magazine * * Risk Management Magazine http://newsletters.keymedia.com.au/5843.aspx
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
An overview of the course assessment appears in the following Table. Details appear in the following section:
# Assessment Length Weighting Learning Outcomes 1 Group Assignment – Risk Management Plan and Risk Register (25%) and presentation, 10-15 slides (5%) Minimum 3,000 words 30% 1-4 2 Individual Assignment - Enterprise Risk Management Framework 3,000 words 30% 4-6 3 Individual Assignment – Systemic Risk 3,000 words 30% 1-3 4 Class Participation 10% 1-6 Total 100%
Assessment Related RequirementsStudents 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.
Assessment DetailAssessment 1, Section 1: Risk Management Plan and Risk Register (Group Assignment)
Submission Details: Submit through the Turnitin link on MyUni
Form groups of 4-5 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, or Bowden, Lane and Martin’s approach.
SubmissionAll text based assignments must be submitted via MyUni.
Please refer to step by step instructions: MyUni Learning Centre
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.
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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