PROJECT MANAGEMENT AND RISK

SHE Level 2
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M2N325214
Module Leader Gavin Watt
School Glasgow School for Business and Society
Subject Risk
Trimesters
  • A (September start)
  • B (January start)
  • C (May start)
  • A (September start)-B (January start)
  • B (January start)-C (May start)
  • C (May start)-A (September start)
  • S-C (May start)-A (September start)

Summary of Content

The aim of this module is to develop students' understanding of the role and purpose of risk management in the effective management of projects. Risk is increasing with more complex projects. The management of risk is the organized process of identifying and quantifying risk, determining risk responses, and controlling risks. The project manager must have the analytical ability to closely examine and assess the risks of each project and take the necessary steps to mitigate the risks without compromising the integrity of the project. This module examines the full range of topics associated with the field of project management. The module will provide the student with a structured approach for assessing and managing a wide variety of project risks. It offers a proven methodology for systematically identifying, prioritizing, and mitigating risks throughout a project's life cycle.

Syllabus

- Introduction to project management and overview of risk management - The project definition - Project planning-work breakdown procedures, assigning resources, precedence, project scheduling, resource availability and team building - Risk types and classification - Certainty, risk and Uncertainty - Methods for identifying and prioritising risk - Methods and techniques for risk analysis - Risk mitigation strategies - Monitoring and control - Risk communication and culture - Managing Stakeholders and Change in Projects

Learning Outcomes

On successful completion of this module, the student should be able to:1. Understand the function the project manager and their role in managing projects within their organisation.2. Define the key components of project planning and understand the importance of effective project monitoring including the actions required to successfully complete a project.3. Prepare a risk management plan to guide a risk approach to project planning using multiple techniques to identify and document risk including estimating and characterising the impact and timing of risks on projects.4. Monitor, control and communicate identified and emerging risks effectively to all project stakeholders.5. Integrate risk management techniques into a balanced project management approach

Teaching / Learning Strategy

This work based module adopts a blended approach to learning which combines face to face contact and online learning via GCU's virtual learning environment, GCU Learn. The teaching and learning strategy encourages an active and self-directed approach to learning. In the context of a work based ethos, teaching and learning methods use real world and real work scenarios to promote action learning, inquiry based learning, problem based learning and peer learning. These methods include lectures, seminars, online directed learning packages (power point presentations/study guides/videos), podcasts and discussion boards. These approaches will be used to directly involve the students in the process of learning and to encourage collaborative learning amongst students. Learners will be supported during the module by the module team which includes module tutors, work based mentors and Academic Development Tutors. Module tutors act as facilitators and also determine the level and accuracy of knowledge acquisition at key points in the delivery. Additionally, input, when necessary, either directly or with the support of external experts will add to the authenticity, credibility and application of education and learning to the workplace. Work based mentors provide a full spectrum of workplace support; helping apprentices to identify relevant work activity that can operate as a source for work-integrated learning, advise on the development of work-based projects, provide feedback on the development of professional competence, and formatively comment on progress in achieving negotiated work-integrated learning objectives. Academic Development Tutors will provide support to help maximise students' potential in relation to academic writing, referencing and the development of effective study techniques. Both formative and summative assessment strategies will be adopted during the module. Formative assessment will be used not only to encourage knowledge of the subject, but also to help develop transferable skills. Summative assessments will provide evidence of the learning achieved throughout the module. Summative assessments are compulsory. An overall mark of 40% must be achieved in the module. Students will have access to ongoing academic support as they work through the module assessment activities, and staff will assist students to reflect on and evaluate achievement of the learning outcomes. The percentage of Work Based Learning for this module, as represented by the Independent Learning 'Activity Type' is 72%. Work Based Assessment will account for 20% with the remainder of 8% accounted for by Lectures and Seminars.

Indicative Reading

HILSON, D. & SIMON, P., 2012. Practical project risk management. Management Concepts. CHAPMAN, C. & WARD, S., 2011. How to manage project opportunity and risk: why uncertainty management can be a much better approach than risk management. John Wiley and Sons HILLSON, D., 2009. Managing risk in projects (Fundamentals of project management). Gower Publishing. KENDRICK, T., 2009. Identifying and managing project risk: essential tools for failure proofing your project. American Management Association. CHAPMAN, C. & WARD, S., 2003. Project risk management: processes, techniques and insights. John Wiley and Sons LOCK, D., 2007. The Essentials of Project Management. Gower Publishing. MURRAY-WEBSTER, R. 2010. Management of risk: guidance for practitioners (Office of Government Commerce), Stationery Office. PROJECT MANAGEMENT INSTITUTE (2017), A guide to the project management body of knowledge (PMBOK Guide) - 6th ed. Project Management Institute. Online sources: Online Association of Project Management- <http://www.apm.org.uk/> Project Management Institute- <https://www.pmi.org.uk/> Project Smart- <http://www.projectsmart.co.uk/> Project Management Informed Solutions- <http://www.pmis.co.uk/> JISC- <http://www.jisc.ac.uk/fundingopportunities/projectmanagement/> JISCINFONET- <http://www.jiscinfonet.ac.uk/infokits/risk-management/> Online PM book- <http://bccampus.pressbooks.com/projectmanagement/> Holland and Holland- <http://www.successful-project-management.com/project-risk-management.html> Method 123- <http://www.method123.com/> Max's (Project Management Wisdom)- <http://www.maxwideman.com/> Project Perfect- <http://www.projectperfect.com.au/> ISACA- <http://www.isaca.org/> Mind Tools- <http://www.mindtools.com/pages/main/newMN_PPM.htm> Online PM Book- <http://www.hraconsulting-ltd.co.uk/project-management-book-0001.htm> The project Management Hut- <http://www.pmhut.com/> Project News Today- <http://projectnewstoday.com/> PM Perspectives - <http://www.pmperspectives.org/>

Transferrable Skills

-Self-management: self-motivation, time management and critical self-reflection and evaluation of personal performance. -Interpersonal Skills: an ability to work collaboratively and constructively with others in seminars and outside of class in allocated groups. -Oral and written communication skills, negotiation skills and presentation skills -Group work when participating in the group work in seminars and outside of class in allocated groups. -Information technology skills will be developed through Internet searches and online communication. -Analytical, evaluative and creative problem solving will be developed throughout the module experience but especially through case studies, seminar debates. -Using Turnitin software to improve writing style.

Module Structure

Activity Total Hours
Independent Learning (FT) 145.00
Lectures (FT) 15.00
Assessment (FT) 40.00

Assessment Methods

Component Duration Weighting Threshold Description
Course Work 01 n/a 100.00 40% Negotiated individual work based assignment: essay - 3000 words