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ENG8103 Management of Technological Risk

Semester 2, 2016 On-campus Toowoomba
Units : 1
Faculty or Section : Faculty of Health, Engineering and Sciences
School or Department : Faculty of Health, Engineering and Sciences
Student contribution band : Band 2
ASCED code : 039999 - EnginTech not classified

Contents on this page

Staffing

Examiner: David Thorpe

Rationale

The complexity of modern engineering products and systems is such that some risk of failure is inevitable. There is a financial incentive to reduce this risk and to improve reliability, and increasingly, there are statutory requirements to address reliability and safety issues explicitly. Consequently, people in technology management need to be aware of the tools and techniques used for the prediction, evaluation and management of technological risks.

Synopsis

This course is concerned with the prediction and assessment of technical risks. It introduces a range of qualitative and quantitative techniques used for the analysis of risk and to manage technological projects and processes in such a way that potential adverse outcomes are minimised and opportunities maximised. The techniques have broad application and may be applied in the management of many technical areas, including manufacturing, construction, processing and plant supervision.

Objectives

The course objectives define the student learning outcomes for a course. On completion of this course, students should be able to:

  1. assess the risks inherent in any process;
  2. evaluate the likelihood and consequences of technical risks;
  3. select, justify and apply appropriate strategies for the treatment of technological risk;
  4. appraise and utilise tools and techniques to reduce and manage risks arising from technological projects and processes.

Topics

Description Weighting(%)
1. Overview of risk management 5.00
2. Risk management fundamentals 10.00
3. Identification and analysis of risk 10.00
4. Risk evaluation 15.00
5. Financial aspects of reliability management 10.00
6. Risk management in technology projects 15.00
7. Risk management in technology processes 10.00
8. Risk management in asset management 15.00
9. Risk management in technology development and commercialisation 10.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://bookshop.usq.edu.au/bookweb/subject.cgi?year=2016&sem=02&subject1=ENG8103)

Please contact us for alternative purchase options from USQ Bookshop. (https://bookshop.usq.edu.au/contact/)

  • Chapman, CB & Ward, SC 2003, Project risk management: processes, techniques and insights, 2nd edn, Wiley, Chichester, UK.
  • Standards Australia 2004, HB 436: 2004 Risk management guidelines companion to AS/NZS 4360:2004, Standards Australia, Sydney, NSW.
    (Online access via Standards On-Line Premium from the USQ Library databases.)
  • Standards Australia 2009, AS/NZS ISO 31000:2009 Risk management principles and guidelines, Standards Australia, Sydney, NSW.
    (Online access via Standards On-Line Premium from the USQ Library databases.)

Reference materials

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.
  • Cooper, DF, Grey, S, Raymond, G & Walker, P 2005, Project risk management guidelines: managing risk in large projects and complex procurements, Wiley, West Sussex, England.
  • Haimes, YY 2009, Risk modelling, assessment and management, 3rd edn, Wiley, Hoboken, NJ.
  • Smith, DJ 2005, Reliability, maintainability and risk: practical methods for engineers, 7th edn, Elsevier Butterworth-Heinemann, Amsterdam.

Student workload expectations

Activity Hours
Assessments 50.00
Directed Study 30.00
Lectures 26.00
Private Study 46.00
Tutorials 13.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
ASSIGNMENT 1 100 10 29 Aug 2016
ASSIGNMENT 2 500 50 03 Oct 2016
2 HOUR CLOSED EXAMINATION 400 40 End S2 (see note 1)

NOTES
  1. Student Administration will advise students of the dates of their examinations during the semester.

Important assessment information

  1. Attendance requirements:
    It is the students' responsibility to attend and participate appropriately in all activities (such as lectures, tutorials, laboratories and practical work) scheduled for them, and to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.

  2. Requirements for students to complete each assessment item satisfactorily:
    To complete each of the assessment items satisfactorily, students must obtain at least 50% of the marks available (or at least a grade of C-) for each assessment item. Furthermore, at least 20% of the total marks for the course is allocated to explicit assessment of good communication skills.

  3. Penalties for late submission of required work:
    Students should refer to the Assessment Procedure http://policy.usq.edu.au/documents.php?id=14749PL (point 4.2.4)

  4. Requirements for student to be awarded a passing grade in the course:
    To be assured of receiving a passing grade in a course a student must obtain at least 50% of the total weighted marks for the course.

  5. Method used to combine assessment results to attain final grade:
    The final grades for students will be assigned on the basis of the weighted aggregate of the marks (or grades) obtained for each of the summative assessment items in the course.

  6. Examination information:
    Candidates are allowed to bring only writing and drawing instruments into the Closed examination.

  7. Examination period when Deferred/Supplementary examinations will be held:
    Any Deferred or Supplementary examinations for this course will be held during the next examination period.

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at http://policy.usq.edu.au.

Assessment notes

  1. The due date for an assignment is the date by which a student must despatch the assignment to the USQ. The onus is on the student to provide proof of the despatch date, if requested by the Examiner.

  2. Students must retain a copy of each item submitted for assessment. This must be despatched to USQ within 24 hours if required by the Examiner.

  3. In accordance with University Policy, the Examiner may grant an extension of the due date of an assignment in extenuating circumstances.

  4. If electronic submission of assessments is specified for the course, students will be notified of this in the course Introductory Book and on the USQ Study Desk. All required electronic submission must be made through the Assignment Drop Box located on the USQ Study Desk for the course, unless directed otherwise by the examiner of the course. The due date for an electronically submitted assessment is the date by which a student must electronically submit the assignment. The assignment files must be submitted by 11.55pm on the due date using USQ time (as displayed on the clock on the course home page; that is, Australian Eastern Standard Time).

  5. If the method of assessment submission is by written, typed or printed paper-based media students should (i) submit to the Faculty Office for students enrolled in the course in the on-campus mode, or (ii) mail to the USQ for students enrolled in the course in the external mode. The due date for the assessment is the date by which a student must (i) submit the assessment for students enrolled in the on-campus mode, or (ii) mail the assessment for students enrolled in the external mode.

  6. The Faculty will NOT normally accept submission of assessments by facsimile or email.

  7. Students who do not have regular access to postal services for the submission of paper-based assessments, or regular access to Internet services for electronic submission, or are otherwise disadvantaged by these regulations may be given special consideration. They should contact the examiner of the course to negotiate such special arrangements prior to the submission date.

  8. Students who have undertaken all of the required assessments in a course but who have failed to meet some of the specified objectives of a course within the normally prescribed time may be awarded one of the temporary grades: IM (Incomplete - Make up), IS (Incomplete - Supplementary Examination) or ISM (Incomplete -Supplementary Examination and Make up). A temporary grade will only be awarded when, in the opinion of the examiner, a student will be able to achieve the remaining objectives of the course after a period of non directed personal study.

  9. Students who, for medical, family/personal, or employment-related reasons, are unable to complete an assignment or to sit for an examination at the scheduled time may apply to defer an assessment in a course. Such a request must be accompanied by appropriate supporting documentation. One of the following temporary grades may be awarded IDS (Incomplete - Deferred Examination; IDM (Incomplete Deferred Make-up); IDB (Incomplete - Both Deferred Examination and Deferred Make-up).

  10. Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide.
    //www.usq.edu.au/library/referencing

Other requirements

  1. Students will require access to e-mail and internet access to UConnect for this course.