BMM6673 - Managing Complexity, Uncertainty and Risk 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 - Evaluate the effectiveness of risk management processes in project delivery
3 - Critically analyse how human factors impact the implementation of project control systems
4 - Identify characteristics of complex projects and critically assess the extent to which it is possible to control a complex project environment
5 - Critique approaches to controlling and managing a complex project environment.

Content:

This module allows you to explore the overlaying structures that exist within complex project environments. It aims to provide you with insight into the interdependence and reliance on various systems used to enable a successful project environment. During the module you will have the opportunity to map the various related systems which support the achievement of projects. This will include organisational structures of 3Ps, project control systems, governance systems and recognition of the requirement of a human interface. You will critique the reliance on tools and systems for decision making within complex project environments.

Risk is also a significant issue with Risk Management being an integral aspect of project management. Without you having a full understanding of risk management processes and their application, the organisation’s aims and objectives could be compromised at both project and corporate level.



Indicative Content
- Identifying risks and differentiating threats and opportunities, causes of risk, risk measurement.
- Influence of culture on risk management, risk management methods, Managing uncertainty.
- Systems thinking, project control management systems (including scope management, scheduling resource management, budgeting and cost management, change control, quality management, reporting, issue management, risk management requirements, critical chain analysis, PERT) Information control, progress and performance (perceived and reality) Communication, relationships, impact of human factors, governance.
- Life cycles, methodologies and their suitability within complex environments e.g. agile approaches (Scrum, etc.), traditional vs non-traditional (Complex) projects.
- Earned Schedule Management(ESM),Critical Chain Scheduling (CCS).



Relevant KSBs

K1.1 How to evaluate and establish appropriate project governance through the incorporation of policies, regulations, processes, roles and structures in different project types and organisational structures, accepting that different sizes of organisation require different levels of control.

K1.2 How to manage project budgets and costs within appropriate financial frameworks and how to report project performance, tailoring reporting requirements to comply with governance norms in the business.

K9.1 How to apply methodologies for risk evaluation and management.

K9.2 How to mitigate the impact of risks on project performance in terms of schedule, cost and quality.

S1.2 Apply techniques and project management methodologies as appropriate, dependent upon project complexity and criticality to the organisational environment in which a project is being delivered.

S5.1 Ensure that project risks, opportunities and issues are addressed using quantitative and qualitative methods to categorise risks and their impacts.

S5.2 Identify, evaluate and implement appropriate mitigation strategies, ensuring that mitigation actions are incorporated into the project plan and are implemented should they develop into issues.

S5.3 Manage risk through the regular review of a risk management plan, adopting appropriate strategies to manage both threats and opportunities.

Learning and Teaching Information:

The sessions will be organised in 3-day teaching block. Lectures will deliver core theoretical frameworks with practical content, context and processes to achieve the themes outlined in the learning outcomes, followed by workshops and personal exercises 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.



Planned LTU Off-the-Job Delivery Learning:

Lectures
Hours: 21
Intended Group Size: Cohort

Virtual Tutorial Cafe
Hours: 2
Intended Group Size: Cohort



Planned Off-the-Job Learning:

Training Plan Activities
Hours: 25
Intended Group Size: Individual



Minimum Self-Directed Off the Job Learning and Practical Training:

Hours: 252



Further Details Relating to 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;
b. Impact of human factors on project control; and,
c. Analyse the extent to which complex projects can be managed and controlled.

Assessment:

Fact File

Module Coordinator - PRS_CODE=
Level - 6
Credit Value - 30
Pre-Requisites - NONE
Semester(s) Offered -

Click here to go back to previous page