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 | Risk and Uncertainty in Project Planning | ||
Code | MGTK761 | ||
Coordinator |
Dr F Misopoulos Operations and Supply Chain Management F.Misopoulos@liverpool.ac.uk |
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Year | CATS Level | Semester | CATS Value |
Session 2024-25 | Level 7 FHEQ | Whole Session | 15 |
Pre-requisites before taking this module (other modules and/or general educational/academic requirements): |
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 |
12 8 6 |
26 | |||||
Timetable (if known) | |||||||
Private Study | 124 | ||||||
TOTAL HOURS | 150 |
Assessment |
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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 report Reassessment Opportunity: new assignment with the same brief. Penalty for Late Submission: Standard UoL penalty applies Anonymous Assessment: Yes | 0 | 10 | ||||
Portfolio of evidence Reassessment Opportunity: 1000-word individual reflective report on their personal learning from the module. Penalty for Late Submission: Standard UoL penalty applies Anonymo | 0 | 30 | ||||
Individual project Reassessment Opportunity: new assignment with the same brief. Penalty for Late Submission: Standard UoL penalty applies Anonymous Assessment: Yes | 0 | 60 |
Aims |
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The module aims to: Foster the ability to plan projects according to the guidelines of the leading project management accrediting bodies; Enable students to understand and apply appropriate risk management techniques to plan, monitor and control work packages and projects; Provide students with the knowledge on approaches to risk identification and assessment; Enable students toward the development of a comprehensive risk management plan encompassing cost, schedule and time considerations for project performance improvement. |
Learning Outcomes |
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(LE1) Commercially aware. |
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(LE2) Internationally aware. |
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(LE3) A lifelong learner. |
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(LE4) A team player. |
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(LO1) Students will be able to apply a range of techniques to determine, document, and refine project goals, performance requirements, deliverables, constraints as well as project schedule in the lifecycle of a project. |
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(LO2) Students will be able to define uncertainty and risk, its properties, advantages and disadvantages. |
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(LO3) Students will be able to examine and apply strategies for identification/analysis/assessment of both qualitative and quantitative risks in projects to inform improved performance. |
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(LO4) Students will be able to critically analyse uncertainty in complex environments and the value of utilising risk management approaches, including risk mitigation in managing stakeholder expectations and supporting ethical and diversity requirements regarding project outcomes. |
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(LO5) Students will be able to demonstrate understanding of the importance of effective risk communication to ensure shareholder/stakeholder understanding as it relates to capital budgeting, regulatory and compliance and socio-economic sustainability. |
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(LRE1) A problem solver. |
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(LRE2) IT literate. |
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(LRE3) An excellent verbal and written communicator. |
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(LRE4) Numerate. |
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(LRE5) Organised and able to work under pressure. |
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(LRE6) Flexible and adaptable. |
Teaching and Learning Strategies |
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The module will be delivered over an 8-week period, primarily through a series of weekly e-lectures, covering key concepts, theories and case examples. These will be supported by individual online tasks, case studies, blogs, collaborative tasks and discussion boards, which will be used to develop and apply learning. These activities will be moderated by the module instructor. Students will also be directed to key academic and practitioner readings to further develop their learning. Unscheduled Directed Student Hours: 12 hours Description: The e-lectures will equate to 1.5 hours/week over 8 weeks undertaken asynchronously. Students will also participate in eight weekly e-seminars where they will engage in peer discussion of key concepts and application to their own work contexts. Seminars will be conducted via a discussion board with input from the module instructor. Unscheduled student
hours: 8 hours Additionally, students will participate in virtual action learning sets, where they will form small action learning groups and collaboratively choose and then work together to solve risk related exercises. This will be facilitated by the module instructor. Unscheduled student hours: 6 hours Self-directed learning hours: 124 hours |
Syllabus |
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Project Planning – Business case, project management plan, planning tools. Structuring the project - scheduling and estimating. The role of risk management in project planning - Introduction to risk, uncertainty and complexity, behavioural risk management. Risk management process – risk management plan, risk identification, risk breakdown structure. Qualitative Risk Analysis - Strategies for qualifying risk in projects. Quantitative Risk Analysis - Quantitative methods in risk planning, Monte Carlo simulation, Decision trees, Sensitivity analysis. Data collection, Quantitative analysis on Risk Register, Uncertainty and Ambiguity. Risk response planning, Risk Monitoring and Control, Risk Communication. |
Recommended Texts |
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Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module. |