MEng Aerospace Engineering with Management

This unit is available as an option on both the MEng Aerospace Engineering with Management and MSc Management of Projects programmes.  

The unit is designed to equip students with an advanced knowledge of the risk management process; by exploring strategic and tactical issues associated with the implementation of effective risk management practices, students should develop the appropriate skills to appreciate the key processes and decision stages at corprate and project level.

The unit is also designed to reinforce the inextricable relationship between risk and value; students will explore through case studies and workshops, how effective risk management can realise added-value to project stakeholders

The unit is delivered through a series of weekly keynote lectures on theoretical and practical concepts of risk and value management, supported by workshop sessions to refinorce the theory.  The unit involves a mix of traditional lectures, group work (formatively assessed), individual written exam.

To identify and critically evaluate the theoretical and practical concepts of risk and value within the context of engineering project management. To critically evaluate the framework within which project participants can operate appropriate risk and value management strategies. THIS IS ALSO RELEVANT TO ENGM60032.

ILO 1 - Demonstrate an advanced level of knowledge and understanding of risk identification, analysis and response.

ILO 2 - Analyse the context within which an engineering project executed in order to  develop risk management strategies given in the prevailing commercial, economic and technical conditions

ILO 3 - Skills and creativity required to produce effective risk management solutions based on the robust analysis of data.

Syllabus:
Lecture 1: Introduction to the Unit,
Lecture 2: What is Risk Management?
Lecture 3: Strategy, Corporate Governance, and Enterprise Risk Management,
Lecture 4: Language of Risk: Risk and Uncertainty,
Lecture 5: Psychology of Risk
Lecture 6: Risk Complexity: Qualitative and Quantitative Risk Analysis,
Lecture 7: Reading week: no lecture (assignment submission),
Lecture 8: Group Workshop 1,
Lecture 9: Risk and Managing Quality in Projects,
Lecture 10: Group Workshop 2,
Lecture 11: Risk Management in the Defence Industry,
Lecture 12: Knowledge Management.

Feedback given to help students to develop and improve with the unit of study. In this unit, a formative work assessment is submitted and feedback comments are made available to students via Turnitin within Blackboard. Additional formative feedback is available to students through the following means:

Attending lectures, joining discussions about case studies and doing short work tasks set within the lecture session. The lecturer will reply to individual questions at the end of each lecture session as required.

The lecturer will provide brief replies to your e-mailed enquiries. The lecturer will provide feedback messages to the whole class via Blackboard if the point that you have raised could be of benefit to the whole class.

Evolutionary learning in strategy-project systems by Gardiner, Paul,; Hoffman, Ed,; Ling, David. Project Management Institute Inc, 2018. ISBN: 9781628254853