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 - 2023
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.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from CQU SUTE Student Unit Evaluations T2/22
The student responded that they really enjoyed learning and attending this class.
The teaching team will continue to encourage all students to attend classes and actively participate with the teaching staff in the discussions and sharing of industry knowledge. This supports learning enjoyment, skills development such as communication and networking between students.
Feedback from CQU SUTE Student Unit Evaluations T2/22
The unit is one of the most structured ones. As an idea for possible improvement I would be interested in brainstorming risk situations, on what could go wrong on site.
The unit is constructively aligned for student learning outcomes so that students are always clear on what is studied and how this builds knowledge for each assessment and graduate career attributes. The positive suggestion for students brainstorming on site safety and risk situations will be included for the next teaching term.
- 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
There are no required textbooks.
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- Endnote
- CQU Library hosted Literature Databases
All submissions for this unit must use the referencing style: Harvard (author-date)
For further information, see the Assessment Tasks.
b.zhao@cqu.edu.au
Module/Topic
Introduction to risk and risk management concepts
Chapter
Events and Submissions/Topic
Unit introduction, learning and teaching activities and assessment for learning.
Module/Topic
Risk management in construction projects
Chapter
Events and Submissions/Topic
Introduction to Assessment 1 (30%)
Module/Topic
Risk identification
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Quantitative risk analysis methods
Chapter
Events and Submissions/Topic
Q&A for Assessment 1
Module/Topic
Lecture and Tutorial free week
Chapter
Events and Submissions/Topic
Module/Topic
Risk management through contract procurement and insurances
Chapter
Events and Submissions/Topic
Introduction to Assessment 2 (50%)
Module/Topic
Construction health and safety risk management
Chapter
Events and Submissions/Topic
Feedback to Assessment 1
Module/Topic
Financial risk management I
Chapter
Events and Submissions/Topic
Module/Topic
Financial risk management II
Chapter
Events and Submissions/Topic
Introduction to Assessment 3
Module/Topic
Enterprise risk management in construction
Chapter
Events and Submissions/Topic
Module/Topic
Advances in construction risk management research
Chapter
Events and Submissions/Topic
Module/Topic
Unit Learning Revision
Chapter
Events and Submissions/Topic
Student led lecture and tutorial workshop to review and reflect on the learning and skills development in this unit.
Q&A for Assessment 3
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Written Assessment
Search the literature relevant to risk analysis techniques: 1) Fault tree analysis; 2) analytical hierarchy analysis; 3) structural equation modelling; 4) Bayesian belief network; and 5) system dynamics. Reliable literature includes journal articles and books.You are required to describe its function and use and discuss its advantages and disadvantages with critical thinking.
Vacation Week Friday (18 Aug 2023) 11:45 pm AEST
Week 7 Friday (1 Sept 2023)
Return via Moodle Unit Site
The assignment will be assessed on quality of work submitted, relevance and coherence to the specific question and tasks. This includes clear argumentation and use of quality references (in-text and bibliography). The content prepared is to expand beyond the learning material provided and demonstrates the student's development of the unit learning outcomes and graduate attributes. Students will work with a marking rubric for self-review and receive formative and summative feedback.
- 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
You are required to prepare a risk management plan for a construction project, including a risk breakdown structure (RBS) and risk register. The RBS will at least 40 risks, which fall within different risk categories and impact project objectives (time, cost, quality, health and safety, etc.). The risk register will require description of consequent and casual risks, treatment measures and risk owners.
Week 11 Thursday (28 Sept 2023) 11:45 pm AEST
Electronic submission via Moodle Unit Site Turnitin
Review/Exam Week Thursday (12 Oct 2023)
Return via Moodle Unit Site
The assignment will be assessed on quality of work submitted, relevance and coherence to the specific question and tasks. This includes clear argumentation and use of quality references (in-text and bibliography). The content prepared is to expand beyond the learning material provided and demonstrates the student's development of the unit learning outcomes and graduate attributes. Students will work with a marking rubric for self-review and receive formative and summative feedback.
- 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
Assessment 3 (20%) is an online quiz with 20 multi-choice questions. The quiz will be marked automatically by the system. The marks will be reviewed and moderated by the coordinator
Review/Exam Week Friday (13 Oct 2023) 11:45 pm AEST
Exam Week Monday (16 Oct 2023)
The quiz will be assessed according to the answers from the students. Each quiz question accounts for 1 mark.
- 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?
