Overview
In Construction Risk Management you will learn the construction-specific nuances of risk management. You will also learn why standard insurance programs have unique implications for contractors and how to evaluate effective strategies for managing construction risks. Viewed through the lens of the construction risk and insurance framework, this unit provides you with an understanding of the strategies for mitigating, transferring, and insuring construction risks. You will learn how risks are commonly allocated in a construction project and how to identify variances between a contractor’s insurance coverage and the total project risks. You will gain the knowledge to monitor and identify statutory changes and judicial rulings that impact the contractor’s liabilities as well as the coverage they have in place to mitigate potential liabilities.
Details
Pre-requisites or Co-requisites
There are no requisites for this unit.
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 2 - 2021
Attendance Requirements
All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Postgraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure – International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback – Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
- Identify and evaluate project risks and opportunities within various construction procurement contexts
- Critically analyse the main forces which drive business strategy as they relate to risk
- Identify and evaluate management strategies for mitigating, transferring, and insuring construction risk
- Effectively communicate business risks and their implications on insurance to various stakeholders.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Written Assessment - 30% | ||||
| 2 - Research Assignment - 50% | ||||
| 3 - Online Test - 20% | ||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Knowledge | ||||
| 2 - Communication | ||||
| 3 - Cognitive, technical and creative skills | ||||
| 4 - Research | ||||
| 5 - Self-management | ||||
| 6 - Ethical and Professional Responsibility | ||||
| 7 - Leadership | ||||
| 8 - Aboriginal and Torres Strait Islander Cultures | ||||
Alignment of Assessment Tasks to Graduate Attributes
| Assessment Tasks | Graduate Attributes | |||||||
|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | |
| 1 - Written Assessment - 30% | ||||||||
| 2 - Research Assignment - 50% | ||||||||
| 3 - Online Test - 20% | ||||||||
Textbooks
Managing Risk in Construction Projects
(2014)
Authors: Smith, Nigel J.,
John Wiley & Sons
Binding: Paperback
Risk and Financial Management in Construction
(2009)
Authors: Burtonshaw-Gunn, Simon
Taylor and Francis
London London , UK
Binding: Paperback
Additional Textbook Information
Both paper and eBook versions can be purchased at the CQUni Bookshop here: http://bookshop.cqu.edu.au (search on the Unit code).
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- MS Teams
- CQUniveristy Library Resources
All submissions for this unit must use the referencing style: Harvard (author-date)
For further information, see the Assessment Tasks.
r.webber@cqu.edu.au
Module/Topic
Basic concepts of risk and risk management
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Risk identification
Chapter
Events and Submissions/Topic
Module/Topic
Qualitative and quantitative risk analysis method
Chapter
Events and Submissions/Topic
Module/Topic
Schedule risk management
Chapter
Events and Submissions/Topic
Module/Topic
Vacation
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Financial risk management 1
Chapter
Events and Submissions/Topic
Module/Topic
Financial risk management 2
Chapter
Events and Submissions/Topic
Module/Topic
Risk allocation in contracting and procurement
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Political risk in international construction
Chapter
Events and Submissions/Topic
Module/Topic
Advances in construction risk management research
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
There will be a 1-hour lecture and 2-hour tutorial per week.
1 Written Assessment
The tasks are to prepare a research report relating to construction risk management. The students can select one of the topics proposed by the lecturer. These topics will provide students with an understanding of the advance in construction risk management research. Students will present their research during the tutorial in Week 12.
Week 10 Friday (24 Sept 2021) 11:45 pm AEST
Week 12 Monday (4 Oct 2021)
The assessment will be assessed on the following criteria:
- Clarity and succinctness of expression.
- Adequate coverage of topics discussed.
- Use of supporting information where appropriate and associated references.
- Original thought.
- Overall presentation and the ability to communicate using correct spelling, grammar and punctuation.
- Where appropriate the use of graphs, illustrations and other diagrams that visually support the context of your submission.
- Demonstration of the core knowledge associated with this unit and appropriate application of this knowledge.
No submission method provided.
- Identify and evaluate project risks and opportunities within various construction procurement contexts
- Critically analyse the main forces which drive business strategy as they relate to risk
- Knowledge
- Communication
- Cognitive, technical and creative skills
- Ethical and Professional Responsibility
2 Research Assignment
Students will develop a risk breakdown structure for a construction project, analyze the schedule and cost risks, and proposed risk treatment strategies.
Review/Exam Week Friday (15 Oct 2021) 11:45 pm AEST
Exam Week Friday (22 Oct 2021)
The assessment will be assessed on the following criteria:
- Clarity and succinctness of expression.
- Adequate coverage of topics discussed.
- Use of supporting information where appropriate and associated references.
- Original thought.
- Overall presentation and the ability to communicate using correct spelling, grammar and punctuation.
- Where appropriate the use of graphs, illustrations and other diagrams that visually support the context of your submission.
- Demonstration of the core knowledge associated with this unit and appropriate application of this knowledge.
No submission method provided.
- Identify and evaluate management strategies for mitigating, transferring, and insuring construction risk
- Effectively communicate business risks and their implications on insurance to various stakeholders.
- Knowledge
- Communication
- Cognitive, technical and creative skills
- Research
- Self-management
- Ethical and Professional Responsibility
3 Online Test
This online quiz contains fifteen multi-choice questions and five short-answer questions covering Topics 1-12. This quiz will test students’ understanding of basic concepts and calculation involved in construction risk management.
Exam Week Monday (18 Oct 2021) 11:45 pm AEST
Exam Week Tuesday (19 Oct 2021)
Each multi-choice question contains four choices, with only one correct choice. When students select the correct choice, they will get 1 mark for a question. Each short answer question requires an answer of no more than five words and represents 1 mark.
No submission method provided.
- Identify and evaluate project risks and opportunities within various construction procurement contexts
- Critically analyse the main forces which drive business strategy as they relate to risk
- Identify and evaluate management strategies for mitigating, transferring, and insuring construction risk
- Effectively communicate business risks and their implications on insurance to various stakeholders.
- Knowledge
- Self-management
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
