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University of Melbourne

  • 37% international / 63% domestic

Project Management: Risk and Economic Analysis - micro-credential

  • Non-Award

Gain practical experience with simulation tools and machine learning to ensure projects remain compliant and sustainable. Develop in-demand skills aligned with industry best practices, learn from leading experts, and earn a shareable digital certificate.

Key details

Degree Type
Non-Award
Duration
6 - 6 weeks full-time
Study Mode
Online

About this course

Project Management: Risk and Economic Analysis

Gain practical experience with simulation tools and machine learning to ensure projects remain compliant and sustainable.

Level up with micro-credentialsIndustry-ready skills

Develop in-demand skills aligned with industry best practice you can apply immediately.

Taught by leading experts

Learn from internationally recognised academics and professionals with years of on the ground experience.

Shareable digital certificate

Showcase your capabilities with an industry recognised digital certificate you can share with your professional network.

Entry requirements

To undertake this course, you are required to have an undergraduate degree or previous experience in project management, engineering, or a related discipline.

Study locations

Online

What you will learn

What you will learn

Gain contemporary skills and knowledge for your job now.

Significant Commonwealth funding is now being directed to major infrastructure projects in Australia. As a result, there's a growing expectation that engineers and project managers should understand how to successfully manage these projects.

This micro-credential is ideal for current and aspiring infrastructure project managers seeking to gain advanced qualitative and quantitative risk-assessment tools that can help ensure projects are compliant and sustainable across their life cycles.

Gain a detailed understanding of key legislation

Gain a better understanding of the relevant legislative requirements surrounding critical infrastructure projects, and explore how to conduct your due diligence using a risk management framework based on ISO Risk Management Standards.

Use advanced simulation techniques and machine learning

Improve your decision-making in unforeseen circumstances by learning how to conduct a life-cycle infrastructure risk assessment using advanced simulation techniques like the Monte Carlo method and probability-impact analysis using machine learning.

Explore reliability-based risk analysis for engineering systems

Gain a deeper understanding of reliability-based analysis and explore how it can be deployed to optimise infrastructure life-cycle maintenance, costs, and risks.

Apply your new knowledge to a risk management plan

Put your knowledge into practice and work with your peers to develop a risk management plan for a sewage treatment plant upgrade project. You'll use advanced simulation techniques including machine learning and Monte Carlo simulation to assess the level of risk.

Course structure

Course details

This micro-credential is designed for current and aspiring managers of large infrastructure projects, including senior government managers, project managers, and professional engineers.

To undertake this course, you are required to have an undergraduate degree or previous experience in project management, engineering, or a related discipline.

Discounts are available to University of Melbourne staff and alumni.

Developed in consultation with industry, this micro-credential is designed to meet the growing need for engineers and project managers to understand life-cycle risk management.

Throughout this course, you'll gain practical skills, and advanced qualitative and quantitative techniques for risk assessment and management of large-scale infrastructure projects. You'll hear from leading industry practitioners and examine real-world infrastructure case studies.

By the end of this course, you'll be able to:

  • Establish context of risk analysis, identify risks, critically analyse and evaluate risks and propose risk treatment based on the risk management framework AS/NZS/ISO 31000: 2018.
  • Apply advanced reliability methodologies and simulation techniques to maintain the sustainability of critical infrastructure.

This course runs for six weeks. Your total time commitment is 42 hours, which includes approximately:

  • 8 hours guided learning
  • 9 hours independent study
  • 25 hours assessment activities.

Assessment:

  • Online quizzes (10%)
  • Case study: risk management of a sewage treatment plant upgrade (90%).

Once you've successfully completed this course, you will be awarded your Project Management: Risk and Economic Analysis Melbourne MicroCert. This digital certificate will warrant the achievement of knowledge, skills and capabilities outlined in the learning outcomes. It may also include artefacts (such as videos and written material) related to both experiential and work-integrated learning, including translatable assessment that is practical to your professional life. You can also share your Melbourne MicroCert digitally and via social media by adding it to your personal platforms, such as LinkedIn. See example certificate.

This is a standalone course.

Delivered fully online, this course provides a convenient way to develop your skillset from a location that suits you.

Within our digital learning environment, you'll engage with other industry professionals and take part in independent and guided learning activities, such as live online workshops featuring industry experts.

You'll examine real-world case studies and complete practical assignments that help put your new knowledge into practice.

There is no set expiry date.