MPM7023 - Managing Risk, Uncertainty and Complexity in Projects

Objectives:

On successful completion of the module, students will be able to:

1 Critically analyse the risk management process regarding its integration into each stage of project life cycle.
2 Critically evaluate the effectiveness of risk management processes in project delivery.
3 Identify characteristics of complex projects and critically assess the extent to which it is possible to control a complex project environment.
4 Critique approaches to controlling and managing a complex project environment.

Content:

This module will enhance students’ ability to apply risk management techniques into various project settings. You will critically analyse the influence of culture on risk management and risk management methods. Techniques such as identifying risks and differentiating threats and opportunities, causes of risk and risk measurement will be applied at more advanced level and will be analysed using their application in various project settings. Uncertainty in projects and how it can be successfully managed, including the theoretical framework to reduce uncertainty (Contingency theory), will also be taught.

There will be content around the complex project environment and how it differs from traditional projects. This will cover systems integration, project complexity model, advanced project planning and control techniques such as Earned Schedule Management and Critical Chain Scheduling. The extent to which complex projects could be managed and controlled will also be explored.

Learning and Teaching Information:

The sessions will be organised in 10 X 3-hour teaching blocks. Lectures will deliver core theoretical frameworks with practical content, context and processes to achieve the themes outlined in the learning outcomes, followed by 10 X 1 hour Tutorials for reflection and development.

The module will make use of current newsworthy case studies and developing business trends and so the nature of the topics and exercises will vary. Students will be provided with, and/or directed to, relevant reading and additional questions/exercises to support their progress through the module material. Students will also be directed to broad electronic source including e-books, journals and other web-based sources to support their learning. Teamwork will be used to enhance project leading and working together skills. The group will work on analysing case-studies, problem-solving and group discussions. Time will be allocated for independent learning.

Students would be expected to prepare for the sessions by reading set texts and completion of tasks set in class or via the VLE and will be expected to take part in a wide range of learning activities.

Lectures
Hours: 30
Intended Group Size: Cohort

Tutorials
Hours: 10
Intended Group Size: Small groups

Guided independent study
Hours: 260

Further Information Relating to Assessment

Formative Assessment:
Group Presentation: Students to present findings of their chosen case-study of a complex project of their choice. The findings should focus on the uncertainty and risk involved in the project owing to the project complexity. The assignment submitted should refer to the material discussed in the module.

Summative Assessment:
Report: Utilising some real-world examples and/or case studies and conforming to business report format, this element of assessment will assess students’ ability to:
a. Synthesise and analyse the literature on integration and effectiveness of risk management processes across a project lifecycle and
b. Analyse the extent to which complex projects can be managed and controlled.

Full details, structures and requirements associated with the assessment are described in the Module Handbook.

Assessment:

Fact File

Module Coordinator - PRS_CODE=
Level - 7
Credit Value - 30
Pre-Requisites - NONE
Semester(s) Offered - 7T27T1JL

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