BUSM 7082 Risk Management and Decision Making

Credit Points 10

Legacy Code 301192

Coordinator Ravi Perera Opens in new window

Description This unit introduces decision theory, concepts and techniques applicable in managing projects. These techniques provide the basis for understanding project risks. The risk management process is reviewed in detail and dynamics of applying it in specialisation domains is discussed. The unit also analyses the concept of value and how value management is applied in managing projects. The different approaches of applying value management in different specialisations are discussed.

School Eng, Design & Built Env

Student Contribution Band HECS Band 4 10cp

Check your HECS Band contribution amount via the Fees page.

Level Postgraduate Coursework Level 7 subject

Restrictions Students must be enrolled in program 3752 Master of Project Management.

Learning Outcomes

On successful completion of this subject, students should be able to:
  1. Understand and apply decision theory and techniques in the context of projects.
  2. Understand the concept of risk and the process of risk management.
  3. Evaluate risks applicable in executing projects.
  4. Analyse value characteristics applicable to products, processes and projects using the concept of value.
  5. Critically evaluate the value of the business case and apply value management techniques to enhance value.

Subject Content

Decisions Making theory and techniques
Risk and Uncertainty
Risk Management Process
Risk Analysis
Risk response strategies
Introduction to Value management
Value management process
Function analysis
Applications of Value Management


The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.

Item Length Percent Threshold Individual/Group Task
Report (Decision Making and Risk) 2000 words 20 N Individual
Case Study (Risk Management) 2000 words 20 N Individual
Report and Presentation 4000 words report and 15 minute presentation 60 Y Both (Individual & Group)

Teaching Periods

2022 Semester 2

Parramatta City - Macquarie St


Subject Contact Ravi Perera Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

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