PROJMGNT 5004 - Managing Project and Systemic Risk

Course Details

Course Code	PROJMGNT 5004
Course	Managing Project and Systemic Risk
Coordinating Unit	Entrepreneurship, Commercialisation & Innov Centre
Term	Trimester 1
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Contact	Intensive: 36 to 40 hours
Available for Study Abroad and Exchange	Y
Assessment	Group and individual assignments

Course Staff

Course Coordinator: Associate Professor Indra Gunawan

Teaching Staff:

Summer School, Trimester 1, Semester 1
Name: Kiran Hiriyanna

BE, Mechanical, (最新糖心Vlog of Technology, Sydney)
CEng (Institute of Mechanical Engineers, London, UK)
Grad Dip in Project Management (Defence and SYstems Institute, Univerity of South 最新糖心Vlog)
MBA (最新糖心Vlog of Adelaide)

Short Bio:
Kiran has a wealth of experience from working in 最新糖心Vlog and the United Kingdom over the last fifteen years in the defence and infrastructure sectors. He has worked for large corporates such as Sydney Water, General Electric, Tenix, Airbus and Babcock. In his past roles, he has not only been a Project Manager, he has also been a risk management practitioner. He is a Chartered Engineer and holds a formal project management qualification. As such, his knowledge and application of risk management and systemic risk will underpin the delivery of your course.

He currently runs his own consultancy, the Tuareg Group, providing project management and operational advice to aged care facilities. He also supplies and manages staff to aged care facilities under his company Aged Care Staff Services. Largely, this change in focus was brought on by a desire to be involved in an altruistic sector. Kiran has been able to combine the knowledge gained from his engineering degree and MBA (from the 最新糖心Vlog of Adelaide) with his corporate experience to guide organisations to reach their strategic goals.

He is looking forward to meeting and teaching you this semester.

Email: Kiran.hiriyanna@adelaide.edu.au

Winter School:
Name: John Sing

Short Bio:

As an Adjunct Associate Professor and Business Consultant, John develops and delivers academic and professional development programs for both the public and private sector. Prior to establishing a small consultancy firm, John had worked for as an executive within the Queensland Public Sector where he was responsible for leading and implementing the Government’s financial and economic reform agenda. This included overseeing the organizations transition from cash based to accrual accounting, financial and management
reporting to the CEO and governing board of directors, and project and risk management at the strategic and operational levels. John has conducted numerous management, leadership, risk, financial and project management courses for industry. He was recruited after having been a full-time academic where he has researched and taught at both undergraduate and postgraduate levels in the domains of
financial accounting, auditing, project and risk management. He is currently involved in the development and delivery of specialized project and risk management programs for finance and engineering professionals working in capital intensive project based organizations. Following the attainment of his Bachelor degree in accounting, John obtained a Doctoral degree in risk from Southern Cross 最新糖心Vlog. He also holds a Master of Accounting degree, Post graduate degree in Education and a Bachelor of Business degree in Accounting.

Email: john.sing@adelaide.edu.au

Trimester 3:

Emeritus Professor Vernon Ireland

Email: vernon.ireland@adelaide.edu.au

Work Phone: 0411 153 861

Personal Link:

After completing his engineering degree Professor Vernon Ireland practised as a structural engineer for seven years while completing an arts degree in English literature, psychology, philosophy and sociology and also completed a Master of Engineering Science degree and a Ph.D. in Project Management later.

He rose to the position of Professor and Dean of the Faculty of Design, Architecture and Building at the 最新糖心Vlog of Technology, Sydney and occupied this position from 1987-1991. While at UTS he used some tools from his PhD research to compare the performance of 最新糖心Vlog’s construction industry with that of the USA, Canada, United Kingdom, Germany, Sweden and New Zealand, surveying over 20 projects in each country. This work was eventually fed into the results of a Royal Commission on Productivity in the Building Industry of New South Wales. In this period he was also Chairman of the Building Services Corporation, the licensing authority for domestic building, and Electrical and plumbing work in New South Wales.

He then spent the next 12 years in the commercial sector as Corporate Development Director of Fletcher Challenge Construction, working mainly in the USA. He then became chief executive of the 最新糖心Vlogn Graduate School of Engineering Innovation. Finally he was appointed Professor and Director of Project Management at the 最新糖心Vlog of Adelaide with the task of establishing the Master of Project Management, which has directed since 2003. He introduce complex systems into ECIC which has both contributed to the Master of Applied Project Management and created a bridge with the innovation and entrepreneurship in both teaching and research. He publishes in recognised journals.

He has received three medals: the Silver Magnolia medal from the Shanghai government for contributions to Chinese overseas relationships; the rotary gold medal for contribution to vocational education and the engineer’s 最新糖心Vlog medal for contribution to engineering.
He was President of the Sydney Division of Engineers 最新糖心Vlog in 2004 and initiated the Centre of Engineering Leadership and Management. He supervises a number of Ph.D. students who are researching the role of complex systems in various diverse areas including disaster preparation and management, dispute resolution between warring nations, a complex adaptive systems and security management of events.

Course Timetable

The full timetable of all activities for this course can be accessed from .

Opening intensive:
Tuesday 7th and Wednesday 8th March 2017
9am to 6pm
Napier, 210, Teaching Room

Closing intensive:
Tuesday 18th and Wednesday 19th April 2017
9am to 6pm
Napier, 210, Teaching Room

Course Learning Outcomes

On successful completion of this course, students will be able to:

1	Identify the core types of project risks;
2	Use qualitative and quantitative risk assessment methods;
3	Competently use risk simulation techniques and other risk analysis tools/methods and work in a group to create a risk management plan based on the ISO 31000:2009;
4	Identify a range of risk management issues/challenges and the risks as complex systems cascade and be competent to initiate potential actions in response;
5	Demonstrate continued learning and personal development;
6	Recognise ethical, social and cultural issues and their importance for project managers.

最新糖心Vlog Graduate Attribute	Course Learning Outcome(s)
Deep discipline knowledge informed and infused by cutting edge research, scaffolded throughout their program of studies acquired from personal interaction with research active educators, from year 1 accredited or validated against national or international standards (for relevant programs)	1-6
Critical thinking and problem solving steeped in research methods and rigor based on empirical evidence and the scientific approach to knowledge development demonstrated through appropriate and relevant assessment	1-4
Teamwork and communication skills developed from, with, and via the SGDE honed through assessment and practice throughout the program of studies encouraged and valued in all aspects of learning	3
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	1,2,5,6
Intercultural and ethical competency adept at operating in other cultures comfortable with different nationalities and social contexts able to determine and contribute to desirable social outcomes demonstrated by study abroad or with an understanding of indigenous knowledges	5,6
Self-awareness and emotional intelligence a capacity for self-reflection and a willingness to engage in self-appraisal open to objective and constructive feedback from supervisors and peers able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate	3-6

Required Resources

Recommended but not required textbooks:

Marchetti, A.M. (2012), Enterprise Risk Management, Best Practices, Wiley.
Bowden, A., Lane, M., and Martin, J., (2001), Triple Bottom Line Risk Management, Wiley.

Recommended Resources

There is a wide range of material on the course topic available. The following provides some additional reading guidance if you are interested in reading further on the topic.

Chapman, Chris and Ward, Stephen	1997	Project Risk Management, Wiley
Chorafas, Dimitris	2001	Managing Risk in the New Economy, New York Institute of Finance
Clark, Kim & Wheelwright, Steven	1993	Managing new Product and Process Development, HBS
Cooper, Robert	2001	Winning at New Products, 3rd Edition, Perseus Publishing, Cambridge Massachusetts
Crawford, C Merle, and Di Benedetto, C Anthony	2000	New Products Management. Irwin McGraw-Hill
Deschamps, Jean-Philippe and Nayak, P Ranganath	1995	Product Juggernauts, Arthur D Little
Gray, Clifford & Larson, Erik	2000	Project Management, McGraw-Hill.
Hardy, Karen	2015	Enterprise Risk Management, Wiley
Jolly Vijay	1997	Commercialising New Technologies, Harvard Business School Press
Louisot, J-P and Kethcam Christopher	2014	Enterprise Risk Management - Issues and case studies, Wiley
McGrath, Michael	2001	Product Strategies for High Tech Companies, 2nd Edition, McGraw-Hill
Pickford, James	2001	Mastering Risk, Volume 1: Concepts, Financial Times
Smith, Preston G and Reinertsen, Donald	1995	Developing Products in Half the Time, Van Nostrand Reinhold
Van de Ven, Andrew, Polley, Douglas, Garud, Raghu, & Venkataraman, Sankataran	1999	The Innovation Journey, Oxford UP

Library Resources
The 最新糖心Vlog of Adelaide’s Barr Smith Library provides a range of learning resources including texts, journals, periodicals, magazines, and access to online databases and information services. It also offers a virtual library which is accessible via the 最新糖心Vlog’s website. .

Other resources
If you are a member of the PMI () you will “gain exclusive access to PMI publications and our global standards*, networking options with our chapters and online communities of practice, and leadership and volunteer opportunities. You’ll also receive discounts on certification exams and renewals, as well as our professional development offerings.” Student membership is USD$40 to join and USD$30 to renew.

* Log in to access complimentary read-only PDFs of all of PMI's published standards or take advantage of discounts on paperback editions

Online Learning

is the 最新糖心Vlog of Adelaide's online learning environment. It is used to support traditional face-to-face lectures, tutorials and workshops at the 最新糖心Vlog. MyUni provides access to various features including announcements, course materials, discussion boards and assessments for each online course of study.

Learning & Teaching Modes

This course is offered in blended learning mode with the face-to-face component offered as intensives.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

As a guide, a 3 unit course comprises a total of 156 hours work (this includes face-to-face contact, any online components, and self directed study).

Learning Activities Summary

This is a draft schedule and session dates are a guide only. The timetable may be changed during the course delivery if necessary.

Intensive	Content	Readings/Activities
1 & 2	Introduction to Risk and why we need to Manage our Risks	Text book, additional reading and the Risk Management Magazine *
	AS/NZS/ISO 31000:2009 – Risk Management Standard	Text book, additional reading and the Risk Management Magazine *
	Applying the Risk Management Process	Text book, additional reading and the Risk Management Magazine *
	Discuss Assignment 1;Examples and tools; Case Study	Text book, additional reading and the Risk Management Magazine *
3 & 4	Introduction; Presentation of Assignment 1, Project Selection (under uncertainty)	Text book, additional reading and the Risk Management Magazine *
	Systemic Risk; Enterprise Risk; Complex Systems; Health and Safety Risk	Text book, additional reading and the Risk Management Magazine *
	Establishing effective Risk Management	Text book, additional reading and the Risk Management Magazine *
	Discuss Assignment 2; Discuss Assignment 3 ; Case Studies & additional examples	Text book, additional reading and the Risk Management Magazine *
* Risk Management Magazine And

Specific Course Requirements

Students must complete all course assessment requirements and must attend lectures to be eligible to pass the course.

Course results are subject to moderation by the ECIC Board of Examiners

The 最新糖心Vlog's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

An overview of the course assessment appears in the following Table. Details appear in the following section:

#	Assessment	Length	Weighting	Due Date	Learning Outcomes
1	Group Assignment – Risk Management Plan and Risk Register (25%) and presentation, 10-15 slides (5%)	Minimum 3,000 words	30%	See MyUni	1, 2, 5
2	Individual Assignment - Enterprise Risk Management Framework	3,000 words	30%	See MyUni	3,4,7,10
3	Individual Assignment – Systemic Risk	3,000 words	30%	See MyUni	6,8,9
4	Class Participation		10%	Ongoing
	Total		100%

Assessment Related Requirements

Students must complete all course assessment requirements and must attend lectures to be eligible to pass the course.

Course results are subject to moderation by the ECIC Board of Examiners

Assessment Detail

Assessment 1, Section 1: Risk Management Plan and Risk Register (Group Assignment)
Weighting: 25%
Submission Details: Submit through Turnitin link on MyUni

Task:
Form groups of 4-5 people and complete a risk analysis and management plan for a project of one of the members of the group. You may use the approach of AS/NZS/ISO 31000:2009, with the addition of Critical Success Factors, or Bowden, Lane and Martin’s approach.

Length and Presentation:
Submit a Report (PDF) of at least 3,000 words. In addition, supply a risk management plan and risk register (Excel file).
Tips for completing the Group Assignment include:

Present the document in a clear, professional and concise format
Treat it as if you are addressing a client audience
- Think of what information is important to the client
- Use the correct language
Don't make graphs too complex!
It is recommended that you follow the methods used in the lectures

Criteria by which your assignment will be marked:
Introduction to the project.
Introduction to Risk Management method
Application of Risk Management Process to the project
a. Establish context
b. Risk identification
c. Risk analysis
d. Risk evaluation
e. Risk treatment (Treatment Strategy, Treatment Plan and Contingency Plan)
f. Communication and consult
g. Monitoring and review
Use of tools and critique of process
Conclusion / Summary of findings (make comments in conjunction with findings from variance modeling spreadsheet)

Criteria by which your assignment will be marked:
Brief introduction to the project
Introduction to risk register
Discussion of the top 10 risks (for some groups, this may be more)
Discuss the treatment of the risks. Why did you choose them? How will the proposed tratments help to maintain control of the project?
Use of Tools and Templates throughout the presentation
Questions and answers

Assessment 1, Seciton 2: Presentation of Risk Management Plan and Risk Register
Weighting: 5%
Submission Details: To be discussed in class

Task:
Present your risk management plan and risk register. Discuss the top 10 risks and explain why you have decided on the chosen treatments. The presentation is to be shared amongst the group.

Length and Presentation:
Submit a Power Point presentation of approximately 10-15 slides. You may embed any media you wish if it helps to communicate your presentation. Tips for completing the Individual Assignment include:

Make sure you present it as a group
Present professionally
Present it innovatively using Power Point
Diagrams are great and sometimes better than slides full of words!

Assessment 2: Enterprise Risk Management Framework (Individual Assignment)
Weighting: 30%
Submission Details: Submit through Turnitin link on MyUni

Task:
From the list of articles in MyUni > Readings for Assignment 2 write an Enterprise Risk Management Plan for a company and context of your choosing. The plan should be designed so that an Executive can effectively manage enterprise level risks within the organisation.

Articles for review
- Refer to MyUni > Assignment 2 Readings

Length and Presentation:
Submit a plan (PDF) of 3000 words maximum. Tips for completing the Individual Assignment include:
• Make sure you present it as a plan
• Write it specifically for a single company – Integrate information specific to the working environment
• Produce a context/industry specific Enterprise Risk Management Plan

Assessment 3: Systemic Risk (Individual Assignment)

Weighting: 30%
Submission Details: Submit through Turnitin link on MyUni

Task:
Purpose is to research current trends in the theory and application of Risk Management at the systems level. Review a project or system where risk management has gone wrong. Review the consequences which have occurred at the system level and comment on the the cascading effects. Did the organisation or enterprise have the risk appetite for the consequences? Use the learnings from the second intensive where applicable to examine the way risk has been managed. Critique the techniques used in the organisation against those discussed in scholarly papers. Where could things have been improved?

In this assignment, you are to demonstrate your awareness of systems thinking within the area of risk managment.

This exercise requires wider research and reading such as The 最新糖心Vlogn newspaper (business section) or the Risk Management Magazine, or Harvard Business Review magazine.

It is not a straight forward assignment, it requires wider reading and research, comparable to a masters degree.

Length and Presentation:
Submit a Report (PDF) maximum 3000 words.

Criteria by which your assignment will be marked:
Brief introduction to the project or system
Compare and contrast the views of scholars, extrapolating on the learnings from the second intensive
Discuss the cascading effects within the enterprise or system
How could the Project Manager or Leadership Team have avoided the consequences?
Discuss how you would best manage project risk while managing risks pertaining to reputational damage and corporate social responsibility

Assessment 4: Participation
Weighting: 10%
Submission Details: Participate in class
Task:
Bonus points will be awarded to students who show exceptional participation during the course.
This will be explained in class by your lecturer.

Criteria by which you will be assessed:
Exceptional participation includes, but is not limited to: sharing with class mates, helping other class mates, sharing notes.

Submission

All text based assignments must be submitted via MyUni.
Please refer to step by step instructions:

There are a few points to note about the submission of assignments:

Assignment Submission: Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both). Note that assignments may be processed via TURNITIN, which is an online plagiarism prevention tool.
Cover Sheet: Please submit, separate to your assignment, the completed 最新糖心Vlog of Adelaide Assessment Cover Sheet providing details of yourself and your team members (if applicable), your assignment, the course, date submitted, etc. as well as the declaration signed by you that this is your (your team’s) work. Note that the declaration on any electronically submitted assignment will be deemed to have the same authority as a signed declaration.
Backup Copy of Assignments: You are advised to keep a copy of your assignments in case the submitted copy goes missing. Please ensure that all assignment pages are numbered. If your assignment contains confidential information, you should discuss any concerns with the Course Lecturer prior to submission.
Extensions of Time: Any request for an extension of time for the submission of an assignment should be made well before the due date of the assignment to the Course Lecturer. Normally, extensions will only be granted for a maximum of two weeks from the original assignment submission date. Extensions will only be granted in cases of genuine extenuating circumstances and proof, such as a doctor’s certificate, may be required.
Failure to submit: Failure to submit an assignment on time or by the agreed extension deadline may result in penalties and may incur a fail grade. Note that a late penalty of 5% of the total available marks for that assessment item will be incurred each day an assignment is handed in late (Unless otherwise stated in 'Assessment Related Requirements' or 'Assessment Detail' above). Assignments handed in after 14 days from the due submission date will fail even if a 100% mark is granted for the work.

Resubmission & Remarking
Resubmission of an assignment for remarking after reworking it to obtain a better mark will not normally be accepted. Approval for resubmission will only be granted on medical or compassionate grounds.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through .

The 最新糖心Vlog places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the 最新糖心Vlog to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

This section contains links to relevant assessment-related policies and guidelines - all university policies.

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student鈥檚 disciplinary procedures.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator

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