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University of Adelaide

Risk Management for Projects

University of Adelaide via edX

Overview

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Risk management is a process used for the identification, assessment and analysis of potential risks to an organization or project. This process enables you to develop the most appropriate risk response.

In the Risk Management for Projects course, you will learn the fundamentals of risk management, as well as how to apply a risk management process in a project-based setting. Risk management is an iterative process and you will learn how adopting key procedures can help you maximize opportunities and minimize negative impact on your project objectives.

In this course, you will further upskill through the application of the risk management canvas, which is a framework that enables you to manage risk within your own environment. It will immerse you in the concepts of risk management and help you to apply the key processes.

Practical activities through the course will allow you to apply the knowledge you learn as each week focuses on a key stage of the risk management process. The theories and practices taught in the course can easily be applied to any project, organization or business environment.

Risk Management for Projects is brought to you by the same team that developed the highly successful Introduction to Project Management MOOC, and builds on risk management for projects introduced in that course.

Participating in this course will ensure that you gain the know-how to reduce your project and organizational risk in the future.

Syllabus

Week 1: The fundamentals of risk management

  • Define risk management
  • Recognise why it’s important to set the context and objectives for the risk management process
  • Recognise why it’s necessary to apply a risk management process in a project, and
  • Summarise and classify each step of the risk management process by using the Risk Management Canvas.

Week 2: Risk identification

  • Identify risks in achieving objective outcomes
  • Identify categories of risk, and
  • Select methods to identify risks.

Week 3: Risk assessment

  • Recognise the process of undertaking a risk assessment of identified risks
  • Select risk controls through risk assessment
  • Use a risk matrix to respond to identified risks
  • Clarify risks to stakeholders, and
  • Use contingencies to deal with risk.

Week 4: Risk response

  • Identify methods of treating risk
  • Design a Communications Plan to include all stakeholders in the management of identified and assessed risks, and
  • Design a Risk Management Plan.

Week 5: Risk monitor and review

  • Recognise the importance of a monitor and review process
  • Use a monitor and review process
  • Integrate a monitor and review process that sets targets
  • Obtain and use feedback for continuous improvement, and
  • Select steps for continuous improvement.

Taught by

Noel Lindsay, Anton Jordaan, Stella Bachtis and John Sing

Reviews

5.0 rating, based on 3 Class Central reviews

4.6 rating at edX based on 79 ratings

Start your review of Risk Management for Projects

  • Profile image for Satyabrata Mohanty
    Satyabrata Mohanty
    This course was insightful. I have been managing multiple projects, but this course helped me to understand the dynamics of all aspects of risk management in a highly scientific manner. Not only has it given me huge self-assurance to overcome risk, but it has equipped me to help my team guide and facilitate the project in the most effective way.
  • Korath Wright
    This course was very informative and practical. I enjoyed the pace, breadth and depth. I gained knowledge that will inform my decision making, enhance my capabilities and further my career path.
  • Obi Mary Onyebuchi
    Like the course and love how the lecturers handled every bit of the training. I like everything about the university of Adelaide.

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