The Risk Management Spectrum
Overview
This unit aims to critically analyse and synthesise conventional and disruptive frameworks for assessing risk and its significance for achieving strategic objectives. Students will be encouraged to consider exploiting uncertainty for success rather than the predominant view of what can go wrong. This will involve exploring how organisations need to adapt, restructure, organise, communicate, and recruit differently. Real, field-based case studies of projects implemented within complex operating environments will be evaluated and students will have the opportunity to solve challenges presented by industry.
Requisites
26-May-2024
27-October-2024
Learning outcomes
Students who successfully complete this unit will be able to:
- Develop a critical understanding of conventional and disruptive risk frameworks
- Demonstrate a coherent knowledge of the various types of risk to business continuity in the context of an increasingly interconnected, highly networked world
- Communicate effectively to internal and external stakeholders as a professional and function as an effective team member or leader
- Research, design and implement non-linear problem-solving methodologies using general strategic risk assessments
- Critically analyse, synthesise and implement methods of risk adaptation for project management in complex environments
Teaching methods
Hawthorn
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| On-campus Class | 2.00 | 12 weeks | 24 |
| Unspecified Activities Independent Learning | 9.50 | 12 weeks | 114 |
| Online Lecture | 1.00 | 12 weeks | 12 |
| TOTAL | 150 |
Swinburne Online
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| Online Directed Online Learning and Independent Learning | 12.50 | 12 weeks | 150 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| Assignment 1 | Individual | 10 - 20% | 1,2 |
| Assignment 2 | Individual | 40 - 60% | 3,4,5 |
| Assignment 3 | Group | 30 - 40% | 1,2,3,4,5 |
Content
- Risk definitions
- Perceptions of risk and heuristics
- Risk and significance to strategic objectives, decision and taking action
- Understanding the difference between complicated and complex
- Types of risk – Geo-political, non-technical, operational, market and compliance risk
- Communicating risk
- Understanding strategic risk
- Risk identification techniques
- Analyses of risk drivers
- Risk assessment tools
- Disruptive risk frameworks
- Adaptation (non-human and human systems)
- Exploiting uncertainty
- Implementation and real-time risk adaptation
- Natural risk mitigation
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.