Module title: Project Risk Management

SCQF level: 11:
SCQF credit value: 20.00
ECTS credit value: 10

Module code: BSV11105
Module leader: Alastair Stupart
School School of Engineering and the Built Environment
Subject area group: Building and Surveying
Prerequisites

There are no pre-requisites for this module to be added

2018/9, Trimester 2, Blended, Edinburgh Napier University
Occurrence: 001
Primary mode of delivery: Blended
Location of delivery: MERCHISTON
Partner: Edinburgh Napier University
Member of staff responsible for delivering module: Alastair Stupart
Module Organiser:


Learning, Teaching and Assessment (LTA) Approach:
Learning & teaching methods including their alignment to LOs
LO1-3 Each face-to-face activity uses a wide variety of audio-visual resources, group discussion, case analysis to develop student engagement. Directed study focuses on development of the concepts covered in the reading materials.

Embedding of employability/PDP/scholarship skills
LO1-3 Students take part in developmental exercises so as to better understand their personal skills and attributes and how to develop them to increase their employability. Their PDP is considered an integral part of this development as they are encouraged to reflect on what they have learned in the module and apply it to their personal situation.

Assessment (formative and summative)
Assessment 1 is a piece of continuous assessement (coursework) and provides the opportunity to give students formative feedback on their progress. Assessment 2 is an examination. It is designed to give students both formative and summative feedback on several aspects of the learning process that can be applied to other learning situations. Assessemnt one will test all the learning outcomes. Assessment two will test all the learning outcomes under examination conditions.

Research/teaching linkages
At several points during the module the students are introduced to relevant research to underpin their learning. Students are also expected to undertake personal research for the assessments, which builds their research skills.

Supporting equality and diversity
Through LO1-3 the issues of diversity are considered in the module. Module materials use a mix of examples from different cultural backgrounds to ensure that diversity is effectively dealt with. The module is taken by students from a wide variety of programmes - the module materials recognise this diversity.

Internationalisation
Students on the module come from a wide ethnic and cultural mix.

Formative Assessment:
The University is currently undertaking work to improve the quality of information provided on methods of assessment and feedback. Please refer to the section on Learning and Teaching Approaches above for further information about this module’s learning, teaching and assessment practices, including formative and summative approaches.

Summative Assessment:
The University is currently undertaking work to improve the quality of information provided on methods of assessment and feedback. Please refer to the section on Learning and Teaching Approaches above for further information about this module’s learning, teaching and assessment practices, including formative and summative approaches.

Student Activity (Notional Equivalent Study Hours (NESH))
Mode of activityLearning & Teaching ActivityNESH (Study Hours)
Face To Face Lecture 36
Independent Learning Guided independent study 161
Face To Face Centrally Time Tabled Examination 3
Total Study Hours200
Expected Total Study Hours for Module200


Assessment
Type of Assessment Weighting % LOs covered Week due Length in Hours/Words
Report 30 1,2,3 9 HOURS= 0, WORDS= 2500
Centrally Time Tabled Examination 70 1,2,3 14/15 HOURS= 3, WORDS= 0
Component 1 subtotal: 30
Component 2 subtotal: 70
Module subtotal: 100

Description of module content:

Philosophy of risk. Risk Management Methodology. Risk Identification. Risk Analysis. Management Response to Risk. Major Sources of Risk and Uncertainty.
Expected Monetary Value, Decision Tree Analysis. Sensitivity Analysis. Value of Perfect Information. Elicitation of Probabilistic Information. Utility Theory. Multi-attribute Utility Theory. Risk In Bidding Decisions. Reverse auctions. Risk and Property Auction Design. Risk Analysis Software. Monte Carlo Simulation. Human Aspects in Risk Analysis.
Risk Allocation in Contracts. Insurance and Bonds. Risk in PFI/PPP Projects. Risk in International Project Investments. Portfolio Theory and Practice. Firm-wide Risk Management.
Role of a risk Manager. Case Studies.




Learning Outcomes for module:

On completion of this module you will be able to:
LO1: appreciate the principles of risk management and decision-making within the context of construction projects.
LO2: Critically apply the qualitative and quantitative tools and techniques of risk analysis.
LO3: Critically examine and analyse the effects of risk and uncertainty from multiple construction projects and synthesise solutions from a corporate perspective.

Indicative References and Reading List - URL:

Core - GOODWIN,PAUL:WRIGHT,GEORGE (2014) DECISION ANALYSIS FOR MANAGEMENT JUDGEMENT: JOHN WILEY AND SONS, 1st ed. - ISBN: 9781292016122
Core - SMITH,NIGEL:MERNA,TONY: JOBLING,PAUL (2013) MANAGING RISK IN CONSTRUCTION PROJECTS: JOHN WILEY AND SONS, 3rd ed. - ISBN: 9781118347225
Core - RAFFERTY,JOHN (2003) RISK ANALYSIS IN PROJECT MANAGEMENT: ROUTLEDGE, 1st ed. - ISBN: 9781135826291
Recommended - MOORE,PETER:THOMAS,HOWARD (1988) THE ANATOMY OF DECISIONS: JOHN WILEY AND SONS, 2nd ed. - ISBN: 9780140091205
Recommended - THOMPSON,PETER: PERRY,JOHN (1992) ENGINEERING CONSTRUCTION RISK:A GUIDE TO PROJECT RISK ANALYSIS AND ASSESSMENT; IMPLICATIONS FOR PROJECT CLIENTS AND PROJECT MANAGERS: THOMAS TELFORD, 1st ed. - ISBN: 9780727716651
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