Subject details

  • Topics
    • Risk - Introduction & Definition
    • Risk - Components & Classification
    • Introduction, Context, Identification
    • Qualitative Risk Analysis
    • Risk Treatment
    • Opportunity Management
    • Quantitative Risk Analysis - Sensitivity Analysis
    • Quantitative Risk Analysis - Introduction to Statistics
    • Quantitative Risk Analysis - Probability Theory
    • Quantitative Risk Analysis - Probability Distributions
    • Quantitative Risk Analysis - Monte Carlo Simulation
    • Contingency
    • Quantitative Risk Analysis - Decision Tree
    • Project Risk Management: Issues
    • Risk Attitude - Utility Theory
    • Judgement Under Uncertainty: Bias
    • Risk Communication
    • Event & Fault Tree
  • Study resources
    • Instructional Methods
      • Disscusion forum/Discussion Board
      • Online assignment submission
      • Standard Media
      • Web links
    • Online Materials
      • Resources and Links
      • Printable format materials
      • Audio-Video streaming
      • Online Assessment

At the completion of this subject students will be able to:

  1. create a risk management plan for an authentic project
  2. apply quantitative risk analysis using specialist software to create a cost model, and evaluate and analyse the results
  3. recognise the concepts of risk and project risk management
  4. evaluate and reflect upon a personal risk experience through a risk management theoretical perspective.
  • Assignment 1 - 4 tests (20%)
  • Assignment 2 - Risk Management Plan (40%)
  • Assignment 3 - Project Budget (40%)

Textbooks are subject to change within the academic year. Students are advised to purchase their books no earlier than one to two months before the start of a subject

No eligibility requirements

Special requirements

No special requirements

Analyse the concepts and theories of risk and uncertainty. Use tools and techniques to apply the project risk management processes of identification, analysis and treatment. Apply quantitative risk analysis techniques of sensitivity analysis and the Monte Carlo simulation. Review the concepts of bias, risk communication, risk attitude and opportunity management.

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Find out more about the Academic Integrity module.

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