Risk Management in Construction
6 Credits (ECTS)
Risk Management in Construction
Get 70% back via Tax Credit
€613 refund on this module
Module Description
Risk management in the Construction industry has evolved significantly over the past years. This module provides an in-depth understanding of the best practices based on different views and practitioners’ experiences.
The module provides the knowledge and skills required to analyse and mitigate against any risk that arises over the life cycle of a construction project to keep the project on track and in line with pre-determined goals.
Managing risk should be primarily a proactive exercise, it should take part of the planning process to identify and quantify risks and put in place safeguards taking into account the severity and probability of the risks.
Risk management module covers different types of risks applicable to various types of construction projects. On large-scale construction projects, risk management strategies include extensively detailed plans to ensure mitigation strategies are in place.
For smaller projects, risk management might mean a simple, prioritised list of high, medium and low risks and associated action plans.
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 managerial role.
Preference is given to applicants having a Level 6 degree in a discipline related to construction, and a minimum of 3 years’ work experience in management within the industry.
Target Audience
This course is targeted at professionals with supervisory and/or middle management experience in the construction industry who wish to have a more thorough background in the subject in order to further advance their careers , namely:
- Architects and Civil Engineers
- Mechanical and Electrical Building Services Engineers
- Project Managers and Coordinators
- Project Owners
The target group can be extended to groups working within the construction industry, such as logistics managers, maintenance managers and facilities managers.
Career Paths
This programme aims to prepare you for senior posts within the industry, such as that of construction manager, head of the construction department or construction director of any construction organisation both in the private and public sector.
How you’ll be assessed
The course comprises:
- Evening classes for part-time courses.
- Classes held throughout the day for full-time courses.
- Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
- Self-study hours comprising research, reading and assignment work.
Assessment
Assessment is carried out via two mandatory components:
- Assessment 1
- Assessment 2
The programme includes different forms of assessment which allow for and promote students’ critical engagement. The formative and summative assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.
Additional Information
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.
Learning Outcomes
Competences:
At the end of the module/unit the learner will have acquired the ability to, independently:
- Critically analyse construction project environment to identify potential risks as typically experienced in the construction industry.
- Carry out project risk assessment as part of the feasibility of construction projects.
- Critically analyse potential risks and develop and implement mitigation strategies in relation to the identified risks.
- Create an action plan indicating strategies, including communication strategies to manage risks during all stages of the project including preliminary designs, financing, building permits, mobilisation, construction and commissioning and handing over.
- Critically apply risk management tools and techniques to manage risks in a variety of projects in the construction industry.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following:
- Students will be asked to critically analyse, challenge, evaluate, assess and synthesise the following content in context of construction industry settings:
- Risk management framework and strategy applicable to a variety of construction project types.
- The types and sources of risks in construction.
- The techniques for risk management most relevant to construction.
- The criteria for selecting a risk management procedure.
- The difficulties associated with estimating/evaluating risk impacts.
- The techniques for developing formal risk management policies taking into account specific construction industry cultures, norms and legislation.
- The issues to establish a formal risk assessment process.
Skills
At the end of the module/unit the learner will have acquired the following skills:
The learner will be able to:
- Analyse comprehensive list of risks associated with different type of construction projects.
- Critically evaluate the application of formal risk management process in range of construction scenarios.
- Critically interpret different approaches to assess uncertainty and risk.
- Assess critically secondary or new risks arising from other primary risks.
- Apply risk management, monitoring and controlling during the entire life cycle of the project.
Judgment Skills and Critical Abilities:
The learner will be able to:
- Critically analyse risk management procedures in carrying out construction related 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 risk management plan to key stakeholders during the different stages of project implementation.
- Use communication as a risk mitigation strategy.
- Develop regular reports to document changes, deadlines and disseminate important information as part of risk management strategy.
- Draw up a Mind Map to organise the information in a visual manner.
Module-Specific Learner Skills:
The learner will be able to:
- Navigate through the online learning platform to find assignments, discussion boards, literature, tutorials etc.