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.

School: Engineering and Mathematical Sciences (Pre 2022)

Credit points: 15

Subject Co-ordinator: Alex Stumpf

Available to Study Abroad/Exchange Students: No

Subject year level: Year Level 5 - Masters

Available as Elective: No

Learning Activities: N/A

Capstone subject: No

Subject particulars

Subject rules

Prerequisites: N/A

Co-requisites: N/A

Incompatible subjects: EMS5RIE OR EMS5CE

Equivalent subjects: N/A

Quota Management Strategy: N/A

Quota-conditions or rules: N/A

Special conditions: N/A

Minimum credit point requirement: N/A

Assumed knowledge: N/A

Learning resources

Engineering Economics

Resource Type: Book

Resource Requirement: Recommended

Author: J. K. Yates

Year: 2017

Edition/Volume: N/A

Publisher: CRC press

ISBN: N/A

Chapter/article title: N/A

Chapter/issue: N/A

URL: N/A

Other description: N/A

Source location: N/A

Managing Risk A rapid builder team briefing booklet

Resource Type: Book

Resource Requirement: Prescribed

Author: Jon C. Warner

Year: 2006

Edition/Volume: N/A

Publisher: Worldwide center for organizational development

ISBN: N/A

Chapter/article title: N/A

Chapter/issue: N/A

URL: N/A

Other description: N/A

Source location: N/A

Fundamentals of Risk Management

Resource Type: Book

Resource Requirement: Prescribed

Author: Paul Hopkin

Year: 2014

Edition/Volume: N/A

Publisher: Kogan Page Ltd

ISBN: N/A

Chapter/article title: N/A

Chapter/issue: N/A

URL: N/A

Other description: N/A

Source location: N/A

Career Ready

Career-focused: No

Work-based learning: No

Self sourced or Uni sourced: N/A

Entire subject or partial subject: N/A

Total hours/days required: N/A

Location of WBL activity (region): N/A

WBL addtional requirements: N/A

Graduate capabilities & intended learning outcomes

Graduate Capabilities

Intended Learning Outcomes

01. Comprehensively and effectively apply relevant engineering accounting techniques to engineering projects and systems.
02. Establish a set of risk management frameworks from a range of tools to ensure given quality management systems are effective, adequate and updated.
03. Design and evaluate costing measures through an expert understanding of design requirements and processes.
04. Analyse cost and risk parameters with respect to engineering designs and systems.
05. Apply analytical tools to identify nonconformities and inadequate protocols which obstruct an organization from meeting customer requirements and accomplishing strategic objectives.
Subject not currently offered - Subject options not available.