Project Risk Management

MQF Level 7

6 Credits (ECTS)

Project Risk Management

October 2024
Module Type
ECTS Credits
6 Credits (ECTS)
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€613 refund on this module

Module Description

Project risk management has evolved significantly over the past few years. This module provides an in-depth understanding of the best practices, as based on different views and on practitioners’ experiences. 

The module will help you identify and analyse any risk that may arise over the course of a project’s lifecycle to keep the project on track and meet pre-determined goals.

Managing risk isn’t merely a reactive approach; one should use the planning process to figure out what risks might occur during the execution phase.  

This module also examines risk management across different types of projects. With large-scale projects, risk management strategies might include extensively detailed planning to ensure mitigation strategies are in place.

For smaller projects, risk management might mean a simple, prioritised list of high, medium and low risks. 

Entry Requirements

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

  • a Level 6 degree; 


  • 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 the study programme and a minimum of 3 years’ work experience in management 

Target Audience

This course is targeted at management professionals with supervisory and/or middle management experience such as:  

  • Operations Manager/ Coordinator 
  • Financial Manager 
  • Supply Chain Manager 
  • Shop Floor Manager/ Supervisor 
  • Marketing and Sales Manager 
  • Services Manager/ Supervisor. 
  • Retail Managers/ Supervisors 
  • Transport Managers 
  • Maintenance Managers 
  • Marketing Managers 

The target group focuses primarily on people already employed within supervisory and managerial roles who wish to have a more thorough background in the subject in order to progress further in their careers. 

Module / Unit Instructions

The proposed structure comprises a blended approach promoting the building of a community of practice via peer-to-peer learning. The structure uses primarily two dimensions of teaching-learning modes:

1. Face-to-face sessions: 18 hours

2. Online Learning Activities: 12 hours

Face to Face sessions

Face-to-face sessions include lectures, tutorials, discussions, presentations and workshop activities promoting peer-to-peer learning.

Online Learning Activities

Online learning activities incorporate tutorials and asynchronous discussions. These may consist of active interaction, participation and contributions in fora discussions, sharing resources and self-reflection exercises.

Learners also contribute to the building of the community of practice by providing feedback to their peers as critical friends, enhancing the learner’s critical engagement throughout the study period.

The tutor provides continual support during both teaching -learning modes by providing information, readings and tasks relevant to the module in question.

The tutor provides continuous formative feedback as an on-going guidance during the student’s learning experience in preparation for their summative assessment.

How you’ll be assessed

Assessment of each module consists of two assignments, each carrying a weighting as below:

a) One Formative assignment carries 20% of total module mark achieved. b) One Summative assignment carries 80% of total module mark achieved.

For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in both the formative and the summative assignment.

The overall grade achieved for each module is calculated as the sum of: · 20% of the mark achieved for formative assignment; and · 80% of the mark achieved for the summative assignment.

All assignment tasks of both formative and summative assessment aim to provide the learner an opportunity to produce evidence of his/her competences aligned to the learning outcomes of each individual Module.


a) Formative assessment tasks are provided in the form of structured online discussions that support learners in their development throughout all of the modules studied.

Such discussions are facilitated and monitored by lecturer who provides students with constructive feedback to help them improve and prepare for summative assignment and dissertation.

For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in the formative assignment.

Formative assessment tasks will contribute to the student’s final mark to acknowledge their work and give chance to improve.

This method allows students to also contribute to the building of the community of practice by providing feedback to their peers as critical friends, enhancing the learner’s critical engagement throughout the study period.

b) Summative assessment is done via one assignment at the end of each module. The mode of assessment varies and may include in-class assignments, and home-based written assignments.

The recommended assessment tool for this module is an essay title or case studies based on relevant real-life scenarios.

Word count range: 3000 ± 10% For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in summative assignment.


Module Intake Dates

October 2024

Additional Info

Reading for the entire Master of Science (M.Sc.) in Management as presented in this brochure costs €9,775.*  

Upon successful completion of this course, students will be eligible for a 70% refund of the cost through the ‘Get Qualified’ scheme.** 

Due to the modular structure of the course, you may also opt to take individual modules as stand-alone. The entry requirements still apply.***  

*Prices are applicable to students who reside in Malta at the time of applying. 

**Terms and conditions apply.  

*** For the price of individual modules, please contact the IDEA Academy team.  

Learning Outcomes


At the end of the module/unit the learner will have acquired the responsibility and autonomy to:

  • Critically Apply risk management tools and techniques to manage a variety of projects in own organisation.
  • Create an action plan indicating strategies to avoid any risk during the course of work.
  • Build a communication plan to disseminate information to relevant stakeholders.
  • Carry out project risk assessment to ensure the feasability of the project.
  • Critically evaluate resources and budgets to avoid incurring unnecessary losses/risks.
  • Critically analyse potential risks, obstacles and barriers which can hinder the project progress.
  • Critically analyse project environment to identify potential risks.


At the end of the module/unit the learner will have been exposed to the following:

  • Evaluate the criteria for selecting a risk management procedure.
  • Critically analyse the usefulness of risk management framework and strategy.
  • Critically judge the difficulties associated with estimating/evaluating risk impacts.
  • Assess the initiatives for undertaking formal risk management policies.
  • Critically evaluate the issues to establish a formal risk assessment process.


At the end of the module/unit the learner will have acquired the following skills:

  • Critically evaluate the application of formal risk management process in a project context.
  • Analyse comprehensive list of risks associated with different type of projects.
  • Critically interpret different approaches to assess uncertainty and risk;
  • Appraise group work and communication during the modules.
  • Critically apply key skills in information handling, analysis and written communication.
  • Assess critically secondary or new risks arising from other primary risks.
  • Apply risk monitoring and controlling during the course of the project. .

Judgment Skills and Critical Abilities:

The learner will be able to:

  • Critically analyse procedures in carrying out own project.
  • Critically discuss appropriate course of action/change in course of action based on risk assessments.

Module-Specific Communication Skills:

The learner will be able to:

  • Communicate and apply an action plan to key stakeholders during the different stages of project implementation.
  • Develop regular reports to document changes, deadlines and disseminate important information.
  • Critically interpret project ideas with colleagues and superiors to receive constructive feedback § Illustrate the different stages of the project using adequate software.
  • Draw up a Mind Map to organise the information in a visual manner.

Module-Specific Learner Skills:

The learner will be able to:

  • Improve personal time management and planning skills in relation to project management.

Module-Specific Digital Skills and Competences:

The learner will be able to:

  • Navigate through the online learning platform to find assignments, discussion boards, literature, tutorials etc
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