RISK AND COST ENGINEERING

EMS5RCE

2021

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.

SchoolEngineering and Mathematical Sciences

Credit points15

Subject Co-ordinatorAlex Stumpf

Available to Study Abroad/Exchange StudentsNo

Subject year levelYear Level 5 - Masters

Available as ElectiveYes

Learning ActivitiesN/A

Capstone subjectNo

Subject particulars

Subject rules

PrerequisitesN/A

Co-requisitesN/A

Incompatible subjectsEMS5CE OR EMS5RIE

Equivalent subjectsN/A

Quota Management StrategyN/A

Quota-conditions or rulesN/A

Special conditionsN/A

Minimum credit point requirementN/A

Assumed knowledgeN/A

Learning resources

Managing Risk A rapid builder team briefing booklet

Resource TypeBook

Resource RequirementPrescribed

AuthorJon C. Warner

Year2006

Edition/VolumeN/A

PublisherWorldwide center for organizational development

ISBNN/A

Chapter/article titleN/A

Chapter/issueN/A

URLN/A

Other descriptionN/A

Source locationN/A

Engineering Economics

Resource TypeBook

Resource RequirementRecommended

AuthorJ. K. Yates

Year2017

Edition/VolumeN/A

PublisherCRC press

ISBNN/A

Chapter/article titleN/A

Chapter/issueN/A

URLN/A

Other descriptionN/A

Source locationN/A

Fundamentals of Risk Management

Resource TypeBook

Resource RequirementPrescribed

AuthorPaul Hopkin

Year2014

Edition/VolumeN/A

PublisherKogan Page Ltd

ISBNN/A

Chapter/article titleN/A

Chapter/issueN/A

URLN/A

Other descriptionN/A

Source locationN/A

Career Ready

Career-focusedNo

Work-based learningNo

Self sourced or Uni sourcedN/A

Entire subject or partial subjectN/A

Total hours/days requiredN/A

Location of WBL activity (region)N/A

WBL addtional requirementsN/A

Graduate capabilities & intended learning outcomes

Graduate Capabilities

Intended Learning Outcomes

01. Effectively apply relevant comprehensive engineering accounting techniques to engineering projects and systems
02. Establish risk management frameworks to ensure quality management systems are effective, adequate and updated.
03. Apply expert understanding of design requirements and processes to design and evaluate costing measures.
04. Analyse cost and risk parameters with respect to engineering designs and systems.
05. Apply analytical tools to identify non-conformities and inadequate protocols that obstruct organizational customer requirements and strategic objectives.

Subject options

Select to view your study options…

Start date between: and    Key dates

Melbourne (Bundoora), 2021, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorAlex Stumpf

Class requirements

LectureWeek: 10 - 22
One 2.00 hours lecture per week on weekdays during the day from week 10 to week 22 and delivered via blended.

WorkShopWeek: 10 - 22
One 2.00 hours workshop per week on weekdays at night from week 10 to week 22 and delivered via blended.

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Five online quizzes (150 words equivalent each - 750-words equivalent total).

N/AQuizzesIndividualNo10 SILO1, SILO2, SILO4

Individual Written Case Study 1 (1,500-words)

N/AAssignmentIndividualNo25 SILO3, SILO4

Group Written Case Study 2 (1,000-words per student). 

N/AAssignmentGroupNo25 SILO4, SILO5

Two hour final examination (2,000-words equivalent). 

N/AOther written examIndividualNo40 SILO1, SILO2, SILO3

Melbourne (Bundoora), 2021, Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorAlex Stumpf

Class requirements

LectureWeek: 30 - 42
One 2.00 hours lecture per week on weekdays during the day from week 30 to week 42 and delivered via blended.

WorkShopWeek: 30 - 42
One 2.00 hours workshop per week on weekdays at night from week 30 to week 42 and delivered via blended.

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Five online quizzes (150 words equivalent each - 750-words equivalent total).

N/AQuizzesIndividualNo10 SILO1, SILO2, SILO4

Individual Written Case Study 1 (1,500-words)

N/AAssignmentIndividualNo25 SILO3, SILO4

Group Written Case Study 2 (1,000-words per student). 

N/AAssignmentGroupNo25 SILO4, SILO5

Two hour final examination (2,000-words equivalent). 

N/AOther written examIndividualNo40 SILO1, SILO2, SILO3