Project Risk Management

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

Knowledge and Understanding

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

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 describe the issues to be addressed in establishing a formal process.
how to understand the motives for undertaking formal risk management processes;

Transferable and Generic Skills

Having successfully completed this module you will be able to:

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

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.

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.

Study time
Type	Hours
Independent Study	126
Teaching	24
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.

Breakdown
Method	Percentage contribution
Coursework	100%

Referral

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

Breakdown
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.

Breakdown
Method	Percentage contribution
Coursework	100%

Repeat Information

Repeat type: Internal & External