Module overview
Project risk management has evolved significantly over many years, but there are conflicting views about what constitutes best practice. This course provides an overview of best practice as outlined in the course text with a critical comparison of alternative views found in practice and discussed in the literature, including guidelines and standards.
Aims and Objectives
Learning Outcomes
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- discuss the application of a formal risk management process in a project context;
- identify a comprehensive list of risks associated with any project.
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- key skills in information handling, critical analysis and written communication.
- group working and communication during the module and subsequently through the Assignment;
- numeracy in terms of uncertainty and risk;
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- how to understand the motives for undertaking formal risk management processes;
- how to discuss the usefulness of a variety of risk management frameworks;
- how to explain the problems associated with estimating risk impacts and probabilities;
- how to describe the issues to be addressed in establishing a formal process.
Syllabus
- An overview of what best practice is about
- A brief review of relevant historical background
- A generic risk management process for planning a project at a strategic level on behalf of a client discussed in some detail
- The impact of earlier and later life cycle positions and changes in other process drivers
- An outline of comparable alternative generic processes
- Examples of different kinds of processes in different contexts
Learning and Teaching
Teaching and learning methods
The module will use lectures which emphasise key issues, guided background reading, and the exploration of mini-case studies. Where appropriate the lecturers will draw on your experience and use class discussion to encourage reflection on concepts and processes.
Type | Hours |
---|---|
Teaching | 24 |
Independent Study | 126 |
Total study time | 150 |
Resources & Reading list
Textbooks
Chris Chapman and Stephen Ward (2011). How to Manage Project Opportunity and Risk: Why uncertainty management can be a much better approach than risk management. John Wiley & Sons.
Assessment
Formative
This is how we’ll give you feedback as you are learning. It is not a formal test or exam.
Draft essay
- Assessment Type: Formative
- Feedback: A draft of part 1 of the summative assessment can be submitted for comments (1200 words).
- Final Assessment: No
- Group Work: No
Summative
This is how we’ll formally assess what you have learned in this module.
Method | Percentage contribution |
---|---|
Coursework | 100% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
Method | Percentage contribution |
---|---|
Coursework | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
Method | Percentage contribution |
---|---|
Coursework | 100% |
Repeat Information
Repeat type: Internal & External