PROJECT RISK MANAGEMENT

SHE Level 3
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M3N325494
Module Leader Gibril Njie
School School of Computing, Engineering and Built Environment
Subject Construction and Surveying
Trimester
  • B (January start)

Summary of Content

The aim of this module is to develop students' understanding of the role and purpose of health and safety 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 field of project management and will discuss the following topics: the basic tools and language of project management; the fundamental interrelationships of cost, schedule, and performance; defining project scope and goals; project scheduling and estimating; resource assignment; team and organisation dynamics; project monitoring and control. 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

1. Introduction to project management and overview of risk management 2. The project definition 3. Planning--work breakdown procedures, assigning resources, precedence, project scheduling, resource availability and team building 4. Risk types and classification 5. Certainty, risk and uncertainty 6. Methods for Identifying and prioritising risk 7. Methods and techniques for risk analysis 8. Risk mitigation strategies 9. Monitoring and control 10. Risk communication and culture

Learning Outcomes

On successful completion of this module, the student should be able to:1. Understand the function and basic language of the project manager 2. Evaluate the rationale and purpose of project requests3. Define and schedule the tasks required to complete a project4. Discuss how to acquire and assign the resources required for completion of a project 5. Monitor and take actions necessary to successfully complete a project6. Prepare a risk management plan to guide a risk approach7. Use multiple techniques to identify and document risks 8. Estimate and characterise the impact and timing of risks on projects9. Monitor and control identified and emerging risks10. Communicate risks effectively to all project stakeholders 11. Integrate risk management techniques and results into a balanced project management approach

Teaching / Learning Strategy

Formative assessment will form a key part of the student feedback strategy. The coursework also involves group element to reflect the team effort necessary for successful project delivery and associated project risk management, and assist students enhance their team working skills. The module will be delivered via a combination of lectures, seminars, directed and independent learning. Materials will be produced on GCULearn to support the delivery of the learning outcomes. Within a traditional lecture and seminar format, projects and case studies will be approached using problem based learning. Students are encouraged to critically appraise the research publications, relate the methods described to good practice guidance, and evaluate practical implications of the outputs. This allows the students to think of their own challenges in research terms and prepares them for future dissertation work

Indicative Reading

Core Texts Hillson, D. Managing Risk in Projects (Fundamentals of Project Management) Publisher: Gower (28 Aug 2009) ISBN-10: 0566088673 ISBN-13: 978:0566088674 Chapman, C and Ward, S Project Risk Management: Processes, Techniques and Insights (2003) (ISBN 04710853557) Kendrick, T. Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project Publisher: Amacom: 2 edition (1 Mar 2009) ISBN-10: 0814413404 ISBN-13: 978-0814413401 Recommended Reading Hofstede, G. Cultures consequences - comparing values, behaviours, institutions and organisations across nations (ISBN 0803973241) Baker/Baker On Time/ On Budget, A step by step for managing any project. Prentice Hall. Schuyler J Risk and Decision Analysis in Projects Websites Association for Project Management-- http://www.apm.org.uk/page.asp?categoryID=0 Institute of Risk Management-- http://www.theirm.org/

Transferrable Skills

Students will develop self management, communication, problem solving, and groupwork skills. Students will further develop personal transferable skills in time management, reflection and analysis of case studies, report and essay writing.

Module Structure

Activity Total Hours
Seminars (PT) 12.00
Independent Learning (PT) 144.00
Assessment (PT) 20.00
Lectures (PT) 24.00

Assessment Methods

Component Duration Weighting Threshold Description
Group Report 0.00 70.00 35% Group Report 5,000 Words due week 11
Group Presentation 0.00 30.00 35% Group Presentation Due Week 12