Risk management has become ever more important in planning, organizing and managing projects, events and continuous activities. But what is 'risk' and how can it be managed successfully? You are required to critically analyse the concept of risk; discuss how it can be measured and ranked and outline how a project risk management strategy may be constructed.

Pedagogical aim and expectations:

Relates to Learning Outcomes: Critically evaluate the use of complex models of Project Risk and Procurement Management; systematically and creatively making sound judgements based on the systematic analysis and creative synthesis of ideas. Critically and effectively assess the value of theories, concepts and models to the practice of Project Risk and Procurement Management. Demonstrate a sound understanding of the importance of risk management in the development and maintenance of sustainable procurement. Locate, synthesise and critically evaluate recent/current information from a wide range of published literature in the area of Project Risk and Procurement Management