Course Title: Risk Management and Feasibility

Part A: Course Overview

Course Title: Risk Management and Feasibility

Credit Points: 12.00

Terms

Course Code	Campus	Career	School	Learning Mode	Teaching Period(s)
MANU1051	City Campus	Postgraduate	115H Aerospace, Mechanical & Manufacturing Engineering	Distance / Correspondence or Face-to-Face	Sem 1 2006, Sem 2 2006, Sem 1 2007, Sem 2 2007, Sem 1 2008, Sem 2 2008, Sem 1 2009, Sem 2 2009, Sem 1 2010, Sem 2 2010, Sem 1 2011, Sem 2 2011, Sem 1 2012, Sem 2 2012, Sem 1 2013, Sem 2 2013, Sem 1 2015, Sem 2 2015, Sem 1 2016, Sem 2 2016
MANU1051	City Campus	Postgraduate	115H Aerospace, Mechanical & Manufacturing Engineering	Distance / Correspondence or Face-to-Face or Internet	Sem 1 2014
MANU1051	City Campus	Postgraduate	115H Aerospace, Mechanical & Manufacturing Engineering	Face-to-Face or Internet	Sem 2 2014
MANU1051	City Campus	Postgraduate	172H School of Engineering	Distance / Correspondence or Face-to-Face	Sem 2 2017
MANU1051	City Campus	Postgraduate	172H School of Engineering	Face-to-Face	Sem 1 2018, Sem 2 2018, Sem 2 2019, Sem 1 2020, Sem 2 2020, Sem 1 2022, Sem 1 2023
MANU1051	City Campus	Postgraduate	172H School of Engineering	Internet	Sem 1 2021

Flexible Terms

Course Code	Campus	Career	School	Learning Mode	Teaching Period(s)
MANU2466	RMIT Online	Postgraduate	172H School of Engineering	Internet	JulDec2017 (XXXX)
MANU2466	RMIT Online	Postgraduate	172H School of Engineering	Internet	JulDec2018 (KP5)
MANU2466	RMIT Online	Postgraduate	172H School of Engineering	Internet	JanJun2020 (All)
MANU2466	RMIT Online	Postgraduate	172H School of Engineering	Internet	JulDec2023 (All)

Course Coordinator: Prof John Mo

Course Coordinator Phone: +61 3 9925 6279

Course Coordinator Email: john.mo@rmit.edu.au

Course Coordinator Availability: By appointment

Pre-requisite Courses and Assumed Knowledge and Capabilities

None

Course Description

In this course you will study risk and the effect of technology on the management of risk. You will 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 prioritse 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.

Objectives/Learning Outcomes/Capability Development

This course contributes to the following Master of Engineering program learning outcomes:

1. Needs, Context and Systems

• Identify and assess risks (including OH&S) as well as the economic, social and environmental impacts of engineering activities

2. Problem Solving and Design

• 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

3. Analysis

• 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

4. Professional Practice 

• Understand the scope, principles, norms, accountabilities and bounds of contemporary engineering practice in the specific discipline

• Apply systematic approaches to the conduct and management of engineering project

 

 

Course Learning Outcomes (CLOs)

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

1. Identify risks in engineering and project management and strategic decision making
2. Apply the basic concepts and techniques of evaluating reliability and assessing risk
3. 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 desirable outcomes
4. 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
5. Manage risk in technologically intensive organisations including those with an ever-changing technology base
6. Adopt and elaborate innovative ideas and incorporate these into management processes

Overview of Learning Activities

You will be actively engaged in a range of learning activities such as lectorials, tutorials, practicals, laboratories, seminars, project work, class discussion, individual and group activities. Delivery may be face to face, online or a mix of both.

You are encouraged to be proactive and self-directed in your learning, asking questions of your lecturer and/or peers and seeking out information as required, especially from the numerous sources available through the RMIT library, and through links and material specific to this course that is available through myRMIT Studies Course.

Overview of Learning Resources

RMIT will provide you with resources and tools for learning in this course through myRMIT Studies Course.

There are services available to support your learning through the University Library. The Library provides guides on academic referencing and subject specialist help as well as a range of study support services. For further information, please visit the Library page on the RMIT University website and the myRMIT student portal.

Overview of Assessment

This course has no hurdle requirements.

 

Assessment item:  Assignment 1 (individual)
Weighting of final grade:  35%     
Related course learning outcomes:  1, 2, 4
Description:  A study of an adverse event and risk management prior to and following the event.

Assessment item:  Assignment 2 (group)
Weighting of final grade:  35%     
Related course learning outcomes:  3, 5, 6
Description:  A study of the feasibility of developing a sustainable complex engineering system with innovative characteristics. 

Assessment item:  Test
Weighting of final grade:  30%     
Related course learning outcomes:  4
Description:  Open book test. The test is an assessment of your analytical abilities in a time- and data-constrained situation to assess risks in the given engineering scenarios and systems using the concepts and techniques presented in this course.