Project Risk Management

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:

• group working and communication during the module and subsequently through the Assignment;
• numeracy in terms of uncertainty and risk;
• key skills in information handling, critical analysis and written communication.

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• how to describe the issues to be addressed in establishing a formal process.
• how to explain the problems associated with estimating risk impacts and probabilities;
• how to discuss the usefulness of a variety of risk management frameworks;
• how to understand the motives for undertaking formal risk management processes;

• 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

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.

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.

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

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.

Repeat Information

Repeat type: Internal & External