Project Risk Management

Unit code: EPM6006 | Study level: Postgraduate
Credit points
12
(Generally, 1 credit = 10 hours of classes and independent study.)
Location
Footscray Park
VU Sydney
Prerequisites
N/A
Overview
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Overview

This unit develops students' expertise in managing project risks through systematic identification, analysis, and response planning. Students will evaluate risk management methodologies and their application within the broader project management context, aligned with industry standards and frameworks. The unit emphasises both qualitative and quantitative risk analysis techniques, enabling students to assess threats and opportunities, develop comprehensive risk management plans, and implement appropriate risk response strategies. Through critical evaluation of risk management processes and practical applications, students will learn to formulate effective risk management approaches that enhance project success. The unit is aligned with Project Management Body of Knowledge (PMBOK®) professional standards.

Learning Outcomes

On successful completion of this unit, students will be able to:

  1. Analyse project risk management processes and methodologies in alignment with industry standards;
  2. Assess and evaluate project threats and opportunities to determine their relative impact on project outcomes;
  3. Critically review and implement tools and techniques for assessing and documenting risks and risk analysis (both qualitative and quantitative); and
  4. Design comprehensive risk management plans that systematically responds to potential risks within complex project environments.

Assessment

For Melbourne campuses

Assessment type: Presentation
|
Grade: 20%
Presentation on managing project risks and opportunities
Assessment type: Project
|
Grade: 40%
Project on developing project risk management plan (Group)
Assessment type: Case Study
|
Grade: 40%
Case study on project risk management methods, processes and planning

The project has two components: progress report (10%) and project report (30%). It includes an evaluation of the contributions made by each member of the team to facilitate assessment of students' achievement of learning objectives.

Required reading

Required readings will be made available on VU Collaborate.

As part of a course

This unit is studied as part of the following course(s):

Graduate Certificate in Project Management
NTPM | Graduate certificate | Duration: 0.5 years
Graduate Diploma in Project Management
NGPM | Graduate diploma | Duration: 1 year
Master of Project Management
NMPM | Masters (coursework) degree | Duration: 2 years

Refer to the course page for information on how to apply for the course. VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.

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