ems5rce risk and cost engineering
RISK AND COST ENGINEERING
EMS5RCE
Not currently offered
Credit points: 15
Subject outline
Inaccurate costing and mitigation of risks are key areas which often result in project failures and in poor decision making. This subject aims to equip the student with fundamental risk-based methodologies and engineering economic analysis to facilitate effective quality and financial management. These tools will be practised within engineering case studies and environments to demonstrate the applicability of these concepts within engineering project management and quality systems implementation.
SchoolSchool Engineering&Mathematical Sciences
Credit points15
Subject Co-ordinatorAlex Stumpf
Available to Study Abroad StudentsNo
Subject year levelYear Level 5 - Masters
Exchange StudentsNo
Subject particulars
Subject rules
PrerequisitesN/A
Co-requisitesN/A
Incompatible subjects EMS5CE, EMS5RIE
Equivalent subjectsN/A
Special conditionsN/A
Learning resources
Readings
Resource Type | Title | Resource Requirement | Author and Year | Publisher |
---|---|---|---|---|
Readings | Engineering Economics | Recommended | J. K. Yates, 2017 | CRC press |
Readings | Fundamentals of Risk Management | Prescribed | Paul Hopkin, 2014 | Kogan Page Ltd |
Readings | Managing Risk # A rapid builder team briefing booklet | Prescribed | Jon C. Warner, 2006 | Worldwide center for organizational development |
Graduate capabilities & intended learning outcomes
01. Comprehensively and effectively apply relevant engineering accounting techniques to engineering projects and systems.
- Activities:
- Lecture, online quiz, case studies, workshop class
02. Establish a set of risk management frameworks from a range of tools to ensure given quality management systems are effective, adequate and updated.
- Activities:
- Lecture, case study, workshop class
03. Design and evaluate costing measures through an expert understanding of design requirements and processes.
- Activities:
- Lecture, online quiz, case studies, workshop class
04. Analyse cost and risk parameters with respect to engineering designs and systems.
- Activities:
- Lecture, online quiz, case studies
05. Apply analytical tools to identify nonconformities and inadequate protocols which obstruct an organization from meeting customer requirements and accomplishing strategic objectives.
- Activities:
- Lecture, workshop class
Subject options
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