Introduction to Risk and Due Diligence
Duration
- One semester or equivalent
Contact hours
- 48 Hours
On-campus unit delivery combines face-to-face and digital learning.
Prerequisites
PG: Nil; UG: 250 CP
Aims and objectives
To provide students with a broad understanding of risk management, including basic concepts and the suite of available techniques
Unit Learning Outcomes
Students who successfully complete this unit will be able to:
1. Describe fundamental risk and reliability concepts;
2. Apply the safety, economic and legal drivers of risk management requirements;
3. Recognise the liability and due diligence implications related to quantified risk management techniques;
4. Apply risk modelling and generative information gathering techniques;
5. Generate safety cases demonstrating due diligence and limiting legal liability; and
6. Apply both top-down and bottom-up risk management techniques
Unit Learning Outcomes
Students who successfully complete this unit will be able to:
1. Describe fundamental risk and reliability concepts;
2. Apply the safety, economic and legal drivers of risk management requirements;
3. Recognise the liability and due diligence implications related to quantified risk management techniques;
4. Apply risk modelling and generative information gathering techniques;
5. Generate safety cases demonstrating due diligence and limiting legal liability; and
6. Apply both top-down and bottom-up risk management techniques
Unit information in detail
- Teaching methods, assessment, general skills outcomes and content.
Teaching methods
*Scheduled face to face: Lectures (36 hours) Tutorials (12 hours)
*Scheduled synchronous online learning events: N/A
Non-scheduled online learning events and activities: N/A
Other non-scheduled learning events and activities including independent study (approx. 100 hours)
*Scheduled synchronous online learning events: N/A
Non-scheduled online learning events and activities: N/A
Other non-scheduled learning events and activities including independent study (approx. 100 hours)
Assessment
| Types | Individual or Group task | Weighting | Assesses attainment of these ULOs |
| Written Assignment | Individual | 40% | 1,2,3,4,5,6 |
| Case Study Presentation | Individual | 10% | 1,2,3,4,5,6 |
| Final Exam | Individual | 50% | 1,2,3,4,5,6 |
Minimum requirements to pass this unit
As the minimum requirements of assessment to pass a unit and meet all Unit Learning Outcomes to a minimum standard, a student must achieve:
(i) an overall mark for the unit of 50% or more.
As the minimum requirements of assessment to pass a unit and meet all Unit Learning Outcomes to a minimum standard, a student must achieve:
(i) an overall mark for the unit of 50% or more.
General skills outcomes
During this unit students will receive feedback on the following key generic skills:
• Analysis skills,
• Problem solving skills,
• Communications skills,
• Ability to tackle unfamiliar problems, and
• Ability to work independently.
• Analysis skills,
• Problem solving skills,
• Communications skills,
• Ability to tackle unfamiliar problems, and
• Ability to work independently.
Content
• Risk Management Concepts
• Risk Paradigms
• Risk Management Models
• Liability
• Causation
• Risk Criteria
• Top-down and bottom-up Techniques
• Ranking and modelling Techniques
• Generative Techniques
• Risk & Reliability Maths
• Corporate Governance
• OH&S
• Process Industry
• Finance & Market Risk
• Safety Case Arguments
• Project Due Diligence
• SIL Allocation
• Availability Profiling
• Risk Paradigms
• Risk Management Models
• Liability
• Causation
• Risk Criteria
• Top-down and bottom-up Techniques
• Ranking and modelling Techniques
• Generative Techniques
• Risk & Reliability Maths
• Corporate Governance
• OH&S
• Process Industry
• Finance & Market Risk
• Safety Case Arguments
• Project Due Diligence
• SIL Allocation
• Availability Profiling
Study resources
- Reading materials.
Reading materials
A list of reading materials and/or required texts will be made available in the Unit Outline.