Analyse risk and the effect of technology on the management of risk. This course will enable you to develop your ability to use a systematic and reasonably consistent method of deciding actions on the risks a system needs to handle.

You will learn to identify, accept and prioritise risks within the constraints of a system. You will explore key aspects of risk management and integrate with the concept of feasibility in engineering projects and business development. You will examine project feasibility in three directions: market feasibility, financial feasibility and technical feasibility. These three directions set the systematic process in which all key risks in a project can be identified and treated prior to any detrimental event happens.

 

Course coordinator

Dr Allan McLay, Professional Fellow - School of Engineering

Course objectives

  • Identify and assess risks (including OH&S) as well as the economic, social and environmental impacts of engineering activities;
  • Anticipate the consequences of intended action or inaction, and understand how the consequences are managed collectively by your organisation, project or team;
  • Develop and operate within a hazard and risk framework appropriate to engineering activities;
  • Comprehend and apply advanced theory-based understanding of engineering fundamentals and specialist bodies of knowledge in the selected discipline area to predict the effect of engineering activities;
  • Understand the scope, principles, norms, accountabilities and bounds of contemporary engineering practice in the specific discipline; and
  • Apply systematic approaches to the conduct and management of an engineering project.

Learning outcomes

Upon successful completion of this course, you should be able to:

  • Identify risks in engineering and project management and strategic decision-making;
  • Apply the basic concepts and techniques of evaluating reliability and assessing risk;
  • Design, develop and implement a systems approach to identify business opportunities and risks of engineering projects and to develop strategies and plans to investigate, analyse and synthesise complex information, problems, concepts and theories for achieving the desired outcomes;
  • Analyse and manage risks in an engineering project and technology-focused business environment and develop a plan of mitigation. Establish principles from concepts and develop standard processes for sustainable management;
  • Manage risk in technologically intensive organisations including those with an ever-changing technology base; and
  • Adopt and elaborate innovative ideas and incorporate these into management processes.

Assessment

Assessment for this course will occur at various times across the seven-week teaching period. In most cases, assessment should follow a similar structure to the below:

  • A short assessment may occur in the first couple of weeks, driven mostly by peer-assessment or objective feedback as is the case of a survey quiz or contribution to discussion.
  • Assessments that occur mid-study period (approximately week 2 to 5) will have a highly formative purpose, like an extended case study or a scenario role play. These are intended to provide an indication of performance and occur at this time to enable positive changes to future performance.
  • Final assessments are usually summative, and generally draw the course's threshold concepts together. Your previous assessments will have directly prepared you for a summative-style assessment.

Rich, online feedback will be provided to you throughout the teaching period on practical exercises and by individual consultation, ideally within five business days.


Please note, unit structure and content are subject to change. Contact your RMIT Student Enrolment Advisor on 1300 701 171 for more information based on your particular circumstances.