ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title PLANNING FOR RISK, UNCERTAINTY AND COMPLEXITY
Code EBUS534
Coordinator Dr C Iris
Operations and Supply Chain Management
C.Iris@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2023-24 Level 7 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
EBUS614 PROJECT AND PORTFOLIO MANAGEMENT IN ORGANISATIONS 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 20

 5

         25
Timetable (if known)              
Private Study 125
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
             
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Individual project There is a resit opportunity. Standard UoL penalty applies for late submission. This is not an anonymous assessment. Assessment Schedule (When): 1  0    100       

Aims

This module will enable students to understand and apply appropriate risk management techniques to plan, monitor and control work packages and projects. In particular the module emphasis on risk identification and assessment and its resources will be demonstrated through the development of a comprehensive risk management plan encompassing cost, schedule and time considerations for project performance improvement.

Learning Outcomes

(LO1) Identify, assess and manage project risks.

(LO2) Define uncertainty and risk, its properties, advantages and disadvantages. This learning outcome will be formatively assessed.

(LO3) Examine strategies for identification/analysis of both qualitative and quantitative risk in projects to inform improved performance.

(LO4) Understand the role of a risk breakdown structure in planning, analysing and mitigating risk.

(LO5) Understand the importance of uncertainty in complex environments and the value of utilising risk management approaches.

(LO6) Understand the importance of effective risk communication to ensure shareholder/stakeholder understanding as it relates to capital budgeting, regulatory and compliance and socio-economic sustainability.

(LO7) Understand and demonstrate effective utilisation of risk management software to support decision-making and performance improvement in projects.

(LO8) Understand the role of risk mitigation in managing stakeholder expectations and supporting ethical and diversity requirements regarding project outcomes.

(LO9) Utilise case studies to improve understanding of risk planning/mitigation through illustrated scenarios which mirror real-work practice and support employability transitioning through practice.

(S1) Numeracy/computational skills - Problem solving. Developed via case study analysis.

(S2) Numeracy/computational skills - Numerical methods. Developed via applying risk management tools.

(S3) Commercial awareness - Relevant understanding of organisations. Developed via application and critique of theory.

(S4) Simulation modelling

(S5) Critical awareness and situational awareness regarding uncertainty

(S6) Skills in using technology - Utilising appropriate risk management software (spreadsheets, risk modelling simulations). Developed via MS Excel, projects/risk simulation modelling software.

Teaching and Learning Strategies

2 hour lecture x 10 weeks
1 hour seminar x 5 weeks
125 hours self-directed learning

Students will be provided with access to readings/videos and other online material to support self-directed learning via Canvas in the form of blended activities. These self-directed activities will be monitored through discussion boards/quizzes. Students will be provided with a minimum of one activity per week supported through blended learning as part of the formative assessment process. Self-directed activities will be discussed in class on a weekly basis.

Syllabus
 

Introduction to the module;

The role of risk management in project planning;

Defining uncertainty and risk;

Strategies for qualifying risk in projects;

Strategies for quantifying risk in projects;

The role of the Risk Breakdown structure;

Planning in an uncertain and complex environment utilising risk;

Risk communication;

Software tools for risk management;

The role of risk in stakeholder management;

Case study analysis.

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.