Overview

This unit aims to develop the students’ understanding of risk management and to develop/ implement contemporary risk management systems and practices relevant to projects or enterprises in engineering industries.

Teaching periods
Location
Start and end dates
Last self-enrolment date
Census date
Last withdraw without fail date
Results released date
Semester 2
Location
Hawthorn
Start and end dates
29-July-2024
27-October-2024
Last self-enrolment date
11-August-2024
Census date
31-August-2024
Last withdraw without fail date
13-September-2024
Results released date
03-December-2024

Learning outcomes

Students who successfully complete this unit will be able to:

  • Appreciate and apply risk management principles, theories, tools and techniques in engineering projects and organisations
  • Analyse risk management frameworks and systems in projects and engineering enterprises and advice on developing/ implementing contemporary risk management solutions/ systems
  • Formulate, use and evaluate risk management techniques, tools/ software and systems
  • Employ due diligence studies for feasibility analysis and strategic decisions in large projects and infrastructure developments
  • Develop professionalism, abilities for research and passion for continuing professional development learning/ training of risk management applications in projects and engineering industries

Teaching methods

Hawthorn

Type Hours per week Number of weeks Total (number of hours)
Live Online
Lecture		 1.00  12 weeks  12
On-campus
Workshop		 2.00  6 weeks  12
On-campus
Class		 2.00  6 weeks  12
Online
Directed Online Learning and Independent Learning		 1.00  12 weeks  12
Unspecified Activities
Independent Learning		 8.50  12 weeks  102
TOTAL     150

Assessment

Type Task Weighting ULO's
Assignment 1Individual 20 - 30% 1,3 
Assignment 2Individual 20 - 40% 1,2,3,5 
Assignment 3Individual 20 - 40% 1,2,3,5 
ProjectIndividual/Group 20 - 30% 3,4,5 

Content

This unit includes following 3 components:

  • Component 1: Introduction to Risk management
    • Risk contexts, perceptions and paradigms
    • Risk identification process, techniques and tools
    • Risk analysis methods, techniques and tools
    • Risk evaluation and treatment
    • Risk communication and documentation
  • Component 2: Risk Management in Construction Projects and Due Diligence for Infrastructure Developments
    • Risk Management in Construction Projects Part 1
      • Risk categories in project-based industries
      • Risk breakdown structure integration with work, resource, and location breakdown structures for project management
      • Identifying and analysing project risks
    • Risk Management in Construction Projects Part 2
      • Prevention and mitigation of project risks
      • Recording and reporting project risks
      • Software tools for project risk management
    • Due diligence studies for large projects and infrastructure developments
      • Introduction to due diligence
      • Vulnerability assessment
      • Precautionary analysis
      • Due diligence study based feasibility analysis and strategic decisions for large projects and infrastructure developments
  • Component 3: Risk Management in Business Process and Operations of Engineering Industries
    • Fundamentals of dependability and reliability
    • Hazard analysis of machineries and engineering operations
    • Risk assessment for business process and technical operations in engineering industries
    • Software tools and systems for risk management in engineering industries

Study resources

Reading materials

A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.