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

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsEngineering EconomicsRecommendedJ. K. Yates, 2017CRC press
ReadingsFundamentals of Risk ManagementPrescribedPaul Hopkin, 2014Kogan Page Ltd
ReadingsManaging Risk # A rapid builder team briefing bookletPrescribedJon C. Warner, 2006Worldwide 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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Subject not currently offered - Subject options not available.