- Class Number 7874
- Term Code 2960
- Class Info
- Unit Value 6 units
- Mode of Delivery In Person
- George Stellios
- George Stellios
- Class Dates
- Class Start Date 22/07/2019
- Class End Date 25/10/2019
- Census Date 31/08/2019
- Last Date to Enrol 29/07/2019
Project risk & issues management explores the management of the risks and issues that arise before and during a projects execution. This involves: development of a conceptual framework, analysis of the way in which risks and issues influence project decisions, and examination of processes to manage risks and issues throughout the life of a project.
PRIM does not align with any particular methodology in risk and issue management. Armed with the theoretical principles and techniques that we will explore, students will be able to evaluate the appropriateness and gauge the limitations of the approaches used within their own organisations. AS/NZS ISO 31000:2009 (a case in point), is found to be a special instance of the general risk framework covered in PRIM.
The objective of PRIM is to equip students with essential skills that will enable them to participate meaningfully in the management of project risk and issues.
Upon successful completion, students will have the knowledge and skills to:
Upon successful completion of the requirements for this course, students will be able to:
- explain and illustrate the nature of risk and its impact on the project environment;
- define, explain and illustrate the limitations of a risk management tool and techniques;
- gauge the quality of a project risk management framework in real-life scenarios; and,
- competently apply a risk management tool set.
This course will integrate the latest research on issues related to PRIM with practical tools and techniques. In particular, students are required to read selected research papers and lead discussions in class. Additionally, in groups, students are required to review and analyse the literature on a topic of their choices. All these together can enhance students’ analytical capability and bridge the gap between theory and practice.
Additional Course Costs
Examination Material or equipment
The course does not have a final exam.
Prescribed textbook: Chapman C. and Ward S. (2003). Project Risk Management: Processes, Techniques and Insights. 2nd John Wiley & Sons, Ltd. (ISBN: 978-0-470-85355-9).
An electronic version of the Prescribed Text is available from the Chiefly Library and has been placed in the short loan collection.
Required Journal Article Reading: (Subject to changes and will be available on Wattle).
*Indicates articles on focus. The Course Convenor will attempt to make the articles available via Wattle.
- Ward, S., Chapman, C., 2003. Transforming project risk management into project uncertainty management. International Journal of Project Management, 21, 97-105.
- *Raz, T., Shenhar, A. J., Dvir, D., Risk management, project success and technological uncertainty. R&D Management, 32, 101-109.
- *Zhang, H. 2007. A redefinition of the project risk process: using vulnerability to open up the event-consequence link. International Journal of Project Management, 25, 694-701.
- Zwikael, O., Ahn, M., The effectiveness of risk management: an analysis of project risk planning across industries and countries. Risk Analysis, 31, 25-37.
- *Raz, T., Michael, E., Use and benefits of tools for project risk management. International Journal of Project Management, 19, 9-17.
- *Kutsch, E., Hall, M. 2010. Deliberate ignorance in project risk management. International Journal of Project Management, 28, 245-255.
- *Maytorena, E., Winch, G. M., Freeman, J. Kiely, T. 2007. The influence of experience and information search styles on project risk identification performance. IEEE Transactions on Engineering Management, 54, 315-326.
- Hillson, D., 1999. Developing effective risk responses. In Proceedings of the 30th Annual Project Management Institute 1999 Seminars & Symposium, Philadelphia, Pennsylvania, USA
- Ben-David, I., Raz, T. 2001. An integrated approach for risk response development in project planning. The Journal of the Operational Research Society, 52, 14-25.
- *Geraldi, J. G., Lee-Kelley, L. Kutsch, E. 2010. The Titanic sunk, so what? Project manager response to unexpected events. International Journal of Project Management, 28, 547-558.
- *Ward, S.C., Champan, C.B., Curtis, B., 1991. On the allocation of risk in construction projects. International Journal of Project Management, 9, 140-147.
- Thomas, A.V., Kalidindi, S.N. Ananthanarayanan, A. 2003. Risk perception analysis of BOT road project participants in India. Construction Management and Economics, 21, 393-407.
- Karlsen, J.T., Lereim, J. 2005. Management of project contingency an allowance. Cost Engineering, 47, 24-29.
- Osipova, E., Eriksson, P.E. Balancing control and flexibility in joint risk management: Lessons learned from two construction projects. International Journal of Project Management, 31, 391-399.
- Patterson, F.D., Neailey, K. 2002. A risk register database system to aid the management of project risk. International Journal of Project Management. 20, 365-374.
- *Hillson, D. 2002. Extending the risk process to manage opportunities. International Journal of Project Management. 20, 235-240
- *Olsson, R. 2007. In search of opportunity management: is the risk management process enough? International Journal of Project Management. 25, 745-752.
- *Browning, T. R., Ramasesh, R. V. 2015. Reducing Unwelcome Surprises in Project Management. MIT Sloan Management Review, 56(3), 53.
- *de Camprieu, R., Desbiens, J. Feixue, Y. 2007. ‘Cultural’ differences in project risk perception : An empirical comparison of China and Canada. International Journal of Project Management, 25, 683-693.
- *Hall, J. L. Columbia and Challenger: organizational failure at NASA. Space Plicy, 19, 239-247.
Optional Recommended Reading: (Available for borrowing from ANU Library collection)
- Meredith,R., Mantel, S.J. 2009. Project Management: A Managerial Approach. 7th Edition. John Wiley and Sons.
- Barkley,T. 2004. Project Risk Management. McGraw-Hill.
- Hillson, 2009. Managing Risk in Projects. Gower Publishing Company
Staff FeedbackStudents will be given feedback in the following forms in this course:
- Written comments
- Verbal comments
- Feedback to the whole class, to groups, to individuals, focus groups
Student FeedbackANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.
|Week/Session||Summary of Activities||Assessment|
|1||Lecture/In-class Exercises - Week 1: - Course introduction - What may happen if project risks and/or issues are not properly managed?||Activities/Readings Course outline (available on Wattle) Due date: Before seminar: complete all required readings;|
|2||Lecture/In-class Exercises - Week 2: - Basic concepts of projects and project management Homework - conduct research on the Korean Seoul-Pusan high-speed railway (KTX) project (prepare for a discussion in the week 3 class about the case study);||Activities/Readings: Course slides (available on Wattle); P: Ch 2, 5, 6 B (Journal articles) - Munns and Bjeirmi (1996); Zwikael and Smyrk (2012) P-Prescribed Text Book; B-Journal Articles (* indicates Articles in focus) Due date: Before seminar: complete all required readings; By 4pm on Tuesday: Submit a “One-page self-introduction” briefing your personal background (academic, work and any personal interests), with your photo and expectations from the class to Wattle;|
|3||Lecture/In-class Exercises - Week 3: - Brief on THSR Project - Uncertainties, risks, opportunities and issues - Overview of industry standards and generic frameworks for project risk management - Q&As for A1.1||Activities/Readings: Research on the THSR Case Project; P: Ch 1, 3, 4; B: 1, 2*, 3* P-Prescribed Text Book; B-Journal Articles (* indicates Articles in focus) Due date: Before seminar: complete all required readings; By 4pm on Tuesday: Submit half of 1-page response regarding the Korean Seoul-Pusan high-speed railway (KTX) (submit via email to the course convener). This work is not assessed and will not contribute to your final course grade. But we will discuss this in the class and it it intended to provide you with experience in identifying and analysing risk, before you start the tasks that will be assessed. In-class: Article discussion on B2 and 3. In-class: Group formation and topic allocation for Assignments 2.1 and 2.2;|
|4||Lecture/In-class Exercises - Week 4: - Project risk management planning - Risk identification (objectives, tools/techniques) - Q&As on A2||Activities/Readings: Example Papers for A2 (on Wattle) P: Ch 7, 8, 9; B: 4,5* P-Prescribed Text Book; B-Journal Articles (* indicates Articles in focus) Due date: Before seminar: complete all required readings; In-class: article discussion on B5 By 4pm on Friday: Assignment 1.1: Project Background and Description due|
|5||Lecture/In-class Exercises - Week 5: - Risk analysis (qualitative and quantitative analysis methods)||Activities/Readings: PMBOK: Ch11 (optional reading); B: 6*,7* P-Prescribed Text Book; B-Journal Articles (* indicates Articles in focus) Due date: Before seminar: complete all required readings; In-class: Article discussion on B6 and 7|
|6||Lecture/In-class Exercises - Week 6: - Risk response planning - Risk allocation||Activities/Readings: P: Ch16 ; B: 8*, 10*, 11*, 12, 13 P-Prescribed Text Book; B-Journal Articles (* indicates Articles in focus) Due date: Before seminar: complete all required readings; In-class: Article discussion on B8,10,11|
|7||Mid -Semester Break Lecture/In-class Exercises - Week 7: - Risk tracking and controlling - Project opportunity management - Project issues and change management||Two week teaching break Activities/Readings: B: 14*, 15, 16*, 17* P-Prescribed Text Book; B-Journal Articles (* indicates Articles in focus) Due date: Before seminar: complete all required readings; In-class: Article discussion on B14, 16, 17; By 4pm on Friday: Assignment 1.2: Project Risk Mgmt Planning, Identification and Analysis due|
|8||Lecture/In-class Exercises - Week 8: - Managing unknown unknowns - Project risk management vs. people vs. organisation culture||Activities/Readings: P: Ch 17; B: 18*, 19, 20* P-Prescribed Text Book; B-Journal Articles (* indicates Articles in focus) Due date: Before seminar: complete all required readings; In-class: Article discussion on B18 and 20|
|9||Group Presentations and discussions (1) - Week 9: In class group presentations and discussions||Activities/Readings: Prepare for group presentations and discussions (TBA) Due date: Before seminar: complete all required presentation preparation; By 4pm on Monday: Assignment 2.1 Topic Analysis Presentation due By 4pm on Monday: Assignment 2.2 Topic Analysis Report due In-class: Assignment A2.1 Group Presentations and Discussions (to be finished in Week 10)|
|10||Group Presentations and discussions (2) - Week 10: In class group presentations and discussions||Activities/Readings: Prepare for group presentations and discussions (TBA) Due date: Before seminar: complete all required presentation preparation; In-class: Assignment A2.1 Group Presentations and Discussions (continued from Week 9)|
|11||Lecture/In-class Exercises - Week 11: - Project risk management vs. people vs. organization culture (cont.)||Activities/Readings: B: 18*, 19, 20* P-Prescribed Text Book; B-Journal Articles (* indicates Articles in focus) Due date: Before seminar: complete all required readings;|
|13||Lecture/In-class Exercises - Week 12: - Course Summary and Q & As||Activities/Readings: All course materials Due date: Before seminar: complete all required readings; By 4pm Friday: Assignment 1.3: Complete PRM Plan Due|
|Assessment task||Value||Due Date||Return of assessment||Learning Outcomes|
|A1.1 Project Background and Description||10 %||16/08/2019||30/08/2019||1,2,3,4|
|A1.2 Project Risk Mgmt Planning, Identification and Analysis||20 %||20/09/2019||04/10/2019||1,2,3,4|
|A1.3: Complete Project Risk Management Plan (Report)||30 %||25/10/2019||15/11/2019||1,2,3,4|
|A2.1 Topic Anlaysis (Presentations and Discussions)||10 %||30/09/2019||21/10/2019||1,2,3,4|
|A2.2 Topic Analysis (Report)||20 %||30/09/2019||21/10/2019||1,2,3,4|
|A3: Class Contribution||10 %||06/08/2019||22/10/2019||1,2,3,4|
* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details
PoliciesANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:
- Student Assessment (Coursework) Policy and Procedure
- Special Assessment Consideration Policy and General Information
- Student Surveys and Evaluations
- Deferred Examinations
- Student Complaint Resolution Policy and Procedure
Assessment RequirementsThe ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.
Moderation of AssessmentMarks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.
Participation is expected for all classes and assessments.
Assessment Task 1
Learning Outcomes: 1,2,3,4
A1.1 Project Background and Description
Details of task and presentation requirements:
For the project of your selection, complete the required Sections 1 and 2 (as listed below).
1. Project background
1.1 Why this project is important? And the context, such as the business environment etc, of the project?
2. Project description
2.1 Project outputs and requirements
2.2 Project governance model
2.3 Work Breakdown Structure (WBS)
2.4 Estimated high-level project timeline and budget
2.5 Critical assumptions about this project
World limit: Less than 1,000 words (excluding tables, figures, references and appendices) with 10% flexibility
Marking Criteria: will be presented in the class lecture during week 3.
Project Topic Selection: will be discussed in weeks 1 and 2 of the course. Students are to select their own project topic and scope, however, the convenor will discuss this with the class to ensure the topic and scope can feasibly be addressed within the assignment requirements.
Assessment Task 2
Learning Outcomes: 1,2,3,4
A1.2 Project Risk Mgmt Planning, Identification and Analysis
Details of task and presentation requirements::
This is the second part of Assessment Task 1 to develop a complete project risk management plan.
For the project of your selection, please complete the required Sections 3, 4 and 5.1 and 5.2 (as listed below). Please add these sections to your A1.1 (please note the marking for this assignment will focus purely on the newly added sections; yet feedback may still be provided for your revised A1.1 and A1.2 sections).
3. Objectives and scope of the project risk management process
4. Roles and responsibilities of project participants in PRM process
5. Project risk management plan
5.1 Project risk identification
5.2 Project risk analysis
World limit (for all new sections of content, under A1.2): Less than 2,000 words (excluding tables, figures, references
Marking Criteria: See Wattle for details
Assessment Task 3
Learning Outcomes: 1,2,3,4
A1.3: Complete Project Risk Management Plan (Report)
Details of task and presentation requirements:
This is the third part of Assessment Task 1 and also the final complete project risk management plan.
For the project of your selection, develop a complete project risk management plan containing the following sections (Please note you should incorporate all comments from A1.1 and A1.2, to improve the quality of the overall assignment):
5.3 Project risk management strategies
5.3.1 Management strategies
5.3.2 Resource estimation and budgeting
5.3.3 Time frames
6. Project opportunity management
7. Conclusions (managerial recommendations)
8. References and Appendix
World limit (for all new sections of content under A1.3): Less than 3,000 words (excluding tables, figures, references and appendices) with 10% flexibility.
Marking Criteria: See Wattle for details.
Assessment Task 4
Learning Outcomes: 1,2,3,4
A2.1 Topic Anlaysis (Presentations and Discussions)
Details of task:
Conduct a literature review on one of the following topics. The group members, and the topic for each group, will be allocated by the Course Convener and group sizes will be depend on number of students enrolled in the course. Please note that:
- For the assignment, please use recent articles to make sure that you have the most recent knowledge on the selected area. The results should add significant value to the discussions held in class, using multiple sources. The preference orders of references: A*/A journal articles, other-ranking journal articles, conference proceedings, industry standards and other online sources. Ranking of journals articles is available at http://www.arc.gov.au/era/era_2010/archive/era_journal_list.htm#1
- Reference styles should follow APA style. More information is available:https://academicskills.anu.edu.au/resources/handouts/writing-references-list-or-bibliography
- Report should follow the general formatting rules which is available on Wattle
- List of project risk management areas: (Note: Areas suggested below are broad. Your team is suggested to choose a more specific sub-topic within the selected area)
The topics are:
- Project risk management frameworks
- Project risk management practices in a selected industry/sector/country
- Project risk identification
- Project risk analysis
- Project risk management strategies
- Project risk monitor and control
- Project opportunity management
- Influence of human factors (e.g., risk attitudes of project manager or risk manager) on project risk management
- Influence of organizational context (e.g., culture, organizational structures) on project risk management
- Influence of project context (e.g., project complexity) on project risk management
- *Project issue management (Note that this is a challenging topic; select this one only if you are really up for a challenge)
- Others (discussed with the Course Convener)
This assignment has two components: (1) A2.1: Group Presentation and Discussion; and (2) A2.2: Written Report. Detailed requirements and the marking criteria for each of them are provided separately.
World limit: group presentations and discussions (exact time tbc depending on the size of the class, but is unlikely to be more than 20mins for each group - including the presentation and time for class questions). This structure and duration of the assignment is subject to change, and will be confirmed in class with the Course Convener.
Important Note: This is not simply a presentation. Your team should evoke audience participation and lead class discussions during and/or at the end of presentation.
Prepare powerpoint slides (or posters) to assist you with the presentation and discussion. The presentation should discuss the key results from the topic analysis. Your team should also develop a set of questions to stimulate discussions.
As we are restricted in time, please ensure to finish your presentation and discussions within the allocated time. An unfinished presentation, and allowing insufficient time for class questions, will result in losing points of your grade.
All members of a group should be involved, but they may take different roles.
Marking Criteria: See Wattle for details.
Assessment Task 5
Learning Outcomes: 1,2,3,4
A2.2 Topic Analysis (Report)
Details of task:
This is the written report of your group's topic analysis.
World limit: Less than 3,000 words (excluding tables, figures, references and appendices) with 10% flexibility.
The written report should include the following sections:
1. Introduction. Teams should describe the objectives of this report and its contributions to the body of PRIM knowledge.
2. The significance of the selected topic. Teams should discuss the importance of the selected topic (e.g., project risk identification) in the overall project risk and issues management practices.
3. Research methodology. Teams should describe the methodology by which this literature review is conducted.
4. A review and analysis of relevant literature on the selected topic. Teams should review and analyse (e.g., group them into themes, and analyse their findings) the relevant literature.
5. Theoretical implications. Teams should discuss the theoretical implications of the literature review. For example, what are possible future research directions?
6. Practical implications. Teams should discuss the practical implications of the review, such as how your research summaries can help companies in developing their capabilities in project risk (and issues) management?
Marking Criteria: see Wattle for details.
Assessment Task 6
Learning Outcomes: 1,2,3,4
A3: Class Contribution
Details of task:
It is essential to your learning, and the learning of others in the class, that you actively participate and contribute to the course. This assessment task will focus on course's student discussions forum on Wattle. Student will be required to provide at least two (2) contributions to the course's student discussion forum (in Wattle) before the end of the Semester.
To evaluate the issues and challenges pertaining to PRIM.
Each contribution must be of an appropriate quality and will be assessed taking into consideration: the extent of research and supporting justifications utilised to support the views presented; and appropriate linkages of that contribution, back into the key topics addressed in the course. Each of the two contributions must not be more than 250 words in length.
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Online SubmissionThe ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.
Hardcopy SubmissionFor some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.
Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 working days after the due date, or on or after the date specified in the course outline for the return of the assessment item. Late submission is not accepted for take-home examinations.
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Referencing RequirementsAccepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.
Please see relevant assessment task details above
Extensions and PenaltiesExtensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.
Resubmission of Assignments
Unless specified otherwise in the assignment requirements, resubmissions are permitted up until the due date and time, but not allowed afterwards
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Transport Infrastructure, Risk Management, Governance