Project Risk Management

Module Description

This module will furnish the project manager and the members of a project team with the essential skills and techniques required to develop a risk management plan by implementing and applying a project risk management model. The project risk management model will guide the project team members to identify and quantify project risk events and help them to prepare the appropriate risk response strategy so that they may quickly respond to the risk if it occurs. The outcome of this project risk management process is the project risk management plan that enables the project team members to monitor and control the anticipated risks should they occur throughout the project implementation phase. 

Particular focus will be given to the quantification of the project risk elements applying various tools, such as, Monte Carlo simulation process, sensitivity analysis, decision tree analysis and the PERT project risk assessment method. The course will also enable project team members to assess various project risk management implementation considerations, such as the dependencies between project management risks, the impact of the risk handling measures and the risk assessment when undertaking concurrent projects. 

Entry Requirements

Candidates who apply for this course must possess one of the following: 

• a Level 6 degree in a related field;  

 OR 

• a Level 5 diploma or higher diploma and 5 years’ work experience in a supervisory or managerial role. 

Preference is given to applicants having a level 6 degree in a discipline related to project management and a minimum of 3 years’ work experience in project supervision or/and general management within the sector.  

Target Audience

The programme is targeted at: 

• industry professionals working in different project-rich domains including, but not limited, to: construction, technology, engineering, finance, banking, management, marketing, gaming, healthcare, arts, education or any other sector where project management is being applied; 
• individuals seeking academic and professional advancement in project management; 
• mid-career-break professionals looking for opportunities to return to or change their career. 

Career Paths

The possible positions for which this programme aims to prepare you for include:   

• project manager/leader 
• project director  
• project consultant 

How you’ll be assessed

This is a part-time programme and will typically take 30 months to complete. The programme comprises a total of 10 modules. The method of assessment is assignment-based.  

The course comprises:  

• 6 lectures per module; 
• 3-hour lectures (evening); 
• 12 hours of online content per module, comprising synchronous online discussions, tutorials and/or videos.