PROJMGNT 1002 - Project Risk Management

North Terrace Campus - Semester 2 - 2022

This course covers the area of risk management in the project context. It highlights the importance of risk management and the need for project managers to think ahead in this regard. It contains essential risk management theory and concepts as applicable to project environments including project risk planning, preparation and response. It also overviews the areas of risk identification, assessment, monitoring and control. Qualitative and quantitative risk analysis techniques will be presented to students within this course.

  • General Course Information
    Course Details
    Course Code PROJMGNT 1002
    Course Project Risk Management
    Coordinating Unit Adelaide Business School
    Term Semester 2
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week
    Available for Study Abroad and Exchange Y
    Course Description This course covers the area of risk management in the project context. It highlights the importance of risk management and the need for project managers to think ahead in this regard. It contains essential risk management theory and concepts as applicable to project environments including project risk planning, preparation and response. It also overviews the areas of risk identification, assessment, monitoring and control. Qualitative and quantitative risk analysis techniques will be presented to students within this course.
    Course Staff

    Course Coordinator: Tracey Dodd

    Program Director Contact Details: Project Management
    Name:
    Dr Tracey Dodd 
    Email:
    tracey.dodd@adelaide.edu.au

    Teaching staff:
    Name: Mr Sean O'Gorman
    Email: sean.ogorman@adelaide.edu.au
    Course Timetable

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

  • Learning Outcomes
    Course Learning Outcomes
    On successful completion of this course students will be able to:
    1. Explain the benefit of risk management for projects
    2. Outline the risk management process
    3. Describe roles and responsibilities in the risk management process
    4. Identify, assess and treat possible project risks
    5. Assess risks both qualitatively and quantitatively
    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)

    Attribute 1: Deep discipline knowledge and intellectual breadth

    Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.

    1, 2, 4

    Attribute 2: Creative and critical thinking, and problem solving

    Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.

    4, 5

    Attribute 3: Teamwork and communication skills

    Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.

    1, 2, 3

    Attribute 4: Professionalism and leadership readiness

    Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.

    2, 3, 4

    Attribute 5: Intercultural and ethical competency

    Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.

    3, 4
  • Learning Resources
    Required Resources
    To be advised
    Recommended Resources

    Project Management Institute (2017) A Guide to the Project Management Body of Knowledge (PMBOK®Guide), 6th Edition, Newtown Square, Pa, Project Management Institute.

    Australian Standards AS/NZS ISO 31000 (2009) Risk Management – Principles and Guidelines

    Project Management Institute (2009) Practice Standard for Project Risk Management, Newtown Square, Pa, Project Management Institute


    It is also useful to read relevant project management journal articles. In particular:
    International Journal of Project Management
    Project Management Journal
    International Journal of Project Organisation and Management


    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. Access to the Library's electronic resources.

    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.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    The Project Risk Management I course is taught on-campus via face to face lectures and tutorials.

    The course introduces students to risk management fundamentals and standard industry practices. The course is intended to provide students with a working knowledge on how to identify, assess and mitigate risk in the project environment. The lectures will consist of both theoretical and practical applications with the tutorials giving students the opportunity to apply risk management concepts to real life situations.

    Note that course materials will also be provided online via the university’s Canvas platform so that students can refer to learning materials in their own time.
    Workload

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

    The Project Risk Management course is a standard 3 unit offering of the University of Adelaide. As a guide, a standard 3 unit course comprises a total of 156 hours work. This includes face-to-face contact at lectures, set readings, any online components and the required assessment work.

    Any student who experiences difficulty in keeping up with the course requirements should seek advice from the Course Coordinator as soon as possible.
    Learning Activities Summary
    Schedule
    Week Topic  
    1 Introduction to Risk Management
    2 Establishing and Planning Risk Management
    3 Risk Identification
    4 Roles and Responsibilities
    5 Qualitative Risk Analysis and Evaluation
    6 Risk Response, Treatment and Action Planning
    7 Monitoring, Reviewing and Controlling Risks
    8 Quantitative Risk Analysis and Evaluation
    9 Reporting, Communication and Consultation
    10 Risk Based Decision Making
    11 Assignment 2 Group Presentations
    12 Course Revision and Assessment 4 Preparation
  • 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
    #Assessment TaskTypeLengthWeightDue DateLearning Outcomes
    1 Essay Individual 1000 words 20% 4th week 1, 2, 3.
    2 Project Report Group 1500 words
    per student
    30% 11th week 2, 4, 5.
    3 Project Presentation Group - but assessed
    individually
    10 minute
    presentation
    10% 11th week 2, 4, 5.
    4 'Take Home' Assessment Individual To be confirmed 40% To be confirmed 1, 2, 3, 4, 5.
    Total 100%
    Assessment Related Requirements
    Students should be aware that considerable knowledge and skills will be taught at lectures and tutorials. Hence, students should attend all classes in order to pass the course.

    Course results may be subject to moderation by the Assessment Review Committee.
    Assessment Detail
    Essay: the essay assessment will ask students to research a risk event from the public domain and report their knowledge on the lessons learned. The learning outcomes will be assessed in terms of how well they understand the role of risk management in business and projects.

    Project Report: this assignment will provide students with an appreciation of risks in ‘real life’ projects. Student groups will focus on a current project that is under way. Their findings will be documented in a comprehensive report that highlights important risk management issues. Learning outcomes will be assessed on student knowledge in respect to managing risk on the selected project.

    Project Presentation: the presentation will see students providing a professional PowerPoint presentation and reporting the key findings from the Project Report. The assessment will be based on how well each student contributes to the presentation. 

    'Take Home' Assessment: this assessment will replace the examination paper in 2020. Details to be confirmed during the course. It will cover various aspects of the course testing both knowledge and applications in respect to risk management concepts. Students will be assessed on demonstrated achievement of the learning outcomes in respect to recognised risk management practice and knowledge in the project context.
    Submission

    All text based assignments must be submitted via MyUni:

    • Assignment Submission: Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both).
    • Cover Sheet: Please include in the assignment a completed University of Adelaide Assessment Cover Sheet (found in MyUni, under Modules) 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.
    • Assessment extensions request: An application for Assessment Extension should be made 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 medical, compassionate or extenuating circumstances. See sections 3 and 7a) i. in particular on assessment extensions in the Modified Arrangements for Coursework Assessment (MACA) Policy.
    • 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: of an assignment 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.
    • Appealing a mark or grade: If you are dissatisfied with your mark or grade, you may request a review or re-mark. There must be academic or procedural reasons for your request, so you can’t simply request a re-mark because you are disappointed with your result. For more information on the process see Assessment Grievance: Appealing a mark or grade
    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.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.