Risk Management – MGMT 610

CG • Section 8WK • 11/08/2019 to 04/16/2020 • Modified 07/28/2020

Course Description

This course explores the area of risk management in project management contexts, and is cross-referenced with PMBOK concepts. Topical coverage includes: principles and concepts of risk management, the processes of risk management, planning risk management, critical success factors for effective risk management, and performing qualitative and quantitative risk analysis.

Prerequisite

BUSI 681

Rationale

Risk is a phenomenon faced by every organization; thus, understanding best practices in risk management is essential to effectively address risk. This is one of several courses covering advanced topics in project management, cross-referenced with PMBOK concepts. The course explores the principle areas of risk management, from developing all elements of a risk management plan to monitoring and controlling project risk.

Measurable Learning Outcomes

Upon successful completion of this course, the student will be able to:

  1. Discuss project risk management and key environmental forces that have impacted the risks modern organizations face.
  2. Identify the activities required to accomplish a successful Risk Management Plan.
  3. Create a Risk Management Profile that presents principal elements of project risk management.
  4. Integrate biblical principles with key project risk management processes.

Course Assignment

Textbook readings and lecture presentations

Course Requirements Checklist

After reading the Course Syllabus and Student Expectations, the student will complete the related checklist found in Module/Week 1.

Discussion Board Forums (4)

Discussion boards are collaborative learning experiences. Therefore, the student is required to provide a thread in response to the provided prompt for each forum. Each thread must be 500–750 words and demonstrate course-related knowledge. Each thread must reference at least 3 peer-reviewed sources and must include at least 1 biblical integration and 1 citation of a text. In addition to the thread, the student is required to post a reply to at least 2 classmates. Each reply must be 200–250 words and reference at least 1 peer-reviewed source or include at least 1 instance of biblical integration in addition to a text. The instructor is looking for substantial, thoughtful, and critical interaction.

Reflection Post

For this post, the student will reflect on a project that he or she has been a part of in which a risk was realized (e.g. a rainstorm that impacted an outdoor event; a fundraiser that failed to reach a funding goal; a work project that went way over schedule). The student will develop a 100–150-word post and share this experience by addressing the following areas:

1. Briefly describe the project

2. Describe the risk that was realized

3. Relate how the team responded to the realized risk

4. Share the lessons learned

This is to be a reflective, conversational post. First-person voice is expected, and no resources/citations are needed. The student is encouraged to respond to his or her peers with engaging replies that generate discussion.

Case Study

The student will select an organization and consider projects likely to be undertaken in such an organization. The student may select his/her current organization or another organization of interest. Each student will then develop a 5–6-page case study risk profile for the organization, noting industry particulars, trends in industry, risks in the industry; and addressing likely risks for a project in the particular industry selected. The case study must include support from academic literature as well as trade literature to support the case response (at least 8 references are required, with at least 4 of the 8 references derived from peer-reviewed sources dated within the last 5 years).

Risk Management Plan

The student will construct an 8–10-page Risk Management Plan that includes the following elements: Introduction, project description, risk scope and objectives, risk management methodology, tools, and the risk communication plan. Included in the tools will be a Risk Assessment Form, a Risk Assessment Matrix, and a Risk Response Matrix. The Risk Management Plan must include a title page, a reference page (at least 3 references are required,) and appendices of the 3 charts noted above.

Tests (2)

Each test will cover the Reading & Study material for the assigned modules/weeks. Each test will be open-book/open-notes, contain 40 multiple-choice and true/false questions, and have a 1-hour time limit.