Riphah International University

Faculty of Management Sciences (FMS)

Riphah School of Leadership (RSL)

Course Title Project Risk and Control Management

Program BSPS
Course Code No. No. of Credits 3
Pre-requisites None
Class Contact Hours 3 hours/ Week X 16 Weeks = 48 Hours
Course Facilitator & Dr Sadia Hanif
Contact Details [Link]@riphah

Course Description

This course provides a comprehensive understanding of the principles, techniques, and strategies
involved in managing project risks and maintaining effective project control. Students will learn how
to identify potential risks, assess their impact and likelihood, and develop strategies to mitigate or
respond to these risks. Additionally, the course will cover the key elements of project control,
including performance measurement, variance analysis, change management, and scope control. The
content of the program is aligned with the values of RAS model by highlighting the importance of
Akhirah oriented decisions in projects risk and control management. The students will learn the
importance of accountability, harmony, and consultation in teamwork to reduce risks and improve
control of projects. Further the lectures and discussions will relate project risk and quality
management practices with the pursuit of excellence. The teaching methodology adopted in the
course is aimed at making students holistic personality as well as to meet course objectives. The
course contents include activities, discussions, case study analysis and assignments to make them
active learner and contributor, the students will be motivated to participate in interactive sessions
and presentations to make them confident person and responsible citizens.

Course Objectives

The following are the objectives of this course;

 To elaborate the concepts of Project risks and control management.
 To explain risk assessment techniques to evaluate the potential impact and likelihood of
identified risks.
 To elaborate methods for developing risk response strategies, including risk mitigation,
transfer, avoidance, and acceptance.
 To explain effective project control mechanisms to monitor and manage project performance.
 To describe methods to manage changes to project scope, schedule, and resources while
minimizing disruptions.
 To understand strategic project risk and control management.

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Course Learning outcomes

After the successful completion of this course students will be able to:
CLO1  Able to replicate the basic concepts of Project risks and control management.
CLO2  Able to apply risk assessment techniques to evaluate the potential impact and
likelihood of identified risks.
CLO3  Able to develop risk response strategies, including risk mitigation, transfer,
avoidance, and acceptance for effective project risk management.
CLO4  Able to implement effective project control mechanisms to monitor and manage
project performance.
CLO5  Able to manage changes to project scope, schedule, and resources while
minimizing disruptions.
CLO6  Able to understand the importance of maintaining alignment with project
objectives throughout its lifecycle and collaborate effectively with project teams
to ensure risk management and control strategies are integrated seamlessly.

Courseware Structure: (Mark X where applies)

Exercis IT Case Individual Group Any other

Lecture Multimedia e Labs Studies Assignments Presentations medium
Guest
X X X X X X X Lectures

Mapping of CLOs with PLOs

PLOs CLO1 CLO2 CLO3 CLO4 CLO5 CLO6

PLO1 X X
PLO2 X X X
PLO3 X X X
PLO4 X X X X
PLO5 X X
Required Resource Material

The Reference books/articles used for this course are:

 Practice Standard for Project Risk Management
Published by Project Management Institute (PMI), 2009
 Project Risk Management: A Practical Implementation Approach
by Michael M. Bissonette (Chapter 12, 13 and 14)
Project Management Institute © 2016 (300 pages) Citation
ISBN:9781628251159

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  PMBOK 6th Edition chapter 5,6, 7, 11
 Lecture notes from online sources like
1. [Link]
2. [Link]
3. [Link]
 Case studies in project, program, and organizational project management
Dragan Z. Milosevic, Peerasit Patanakul & Sabin Srivannaboon
Copyright 0 2010 by John Wiley & Sons, Inc. All rights reserved.

Course Content (Weekly)

Week Topics Topic Details CLOs

1 Introduction Lecture 1 1
Definition and key concepts
Critical success factors for project risk
management
Principles and concepts
Projects risks definition and types of risks
Role of project manager
Lecture 2
Project risk management process
Plan risk management
Critical success factors for plan risk
management
Tools and techniques for plan risk
management
Documenting plan risk management
2 Identifying Risks Lecture 1 1&2
Identifying risks process
Critical success factors of identifying risks.
Tools and techniques used in identifying risks.
Practicing tools and techniques
Lecture 2
Qualitative risk analysis
Approaches to perform qualitative risk
analysis.
Tools and techniques to perform qualitative
risk analysis.
Practicing tools and techniques
3 Quantitative risk analysis Lecture 1 2&3
Approaches to perform quantitative risk
analysis.
Tools and techniques to perform quantitative
risk analysis.
Practicing tools and techniques

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 Lecture 2
Plan risk responses
Approaches, strategies and tools and
techniques for plan risk responses
Documenting plan risk responses
Practicing tools and techniques
4 Monitor and control Lecture 1 3&6
Risks Approaches tools and techniques of monitor
and control risks
Lecture 2
Monitoring and control risks situation in
Pakistan Public Sector Project Management.
How it can be improved considering Islamic
values and risks control techniques (Lecture +
Interactive session)
5 Project Management Lecture 1 2, 3 & 6
Tools and Techniques Project Management Process Group and
Affecting Project Risk Knowledge Area Mapping
Project Management Knowledge Areas Versus
Tools and Techniques Mapping
Project Management Tools and Techniques
for Risk Management
Project Management Estimating Tools and
Techniques
Project Management Scheduling Tools and
Techniques
Lecture 2
Project Management Cost and Schedule
Management Tools and Techniques
Project Management Quality Assurance Tools
and Techniques
Requirements Management Tools and
Techniques
Project Management Communications Tools
and Techniques
Project Management HR Tools and
Techniques
Supplier Management Tools and Techniques
6 Project Manager Lecture 1 1, 2 and 3
Competencies versus Basic Project Manager Capabilities to
Project Risk Consider
Project Manager Abilities, Roles, and
Responsibilities
Leadership Abilities and Skills for Effective
Project Management
Lecture 2

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 Various Project Risk Management Influencers
Organizational Influencers
Organizational Structure and Cultural Factors
Organizational Process Assets
Project Stakeholders and Governance
7 Group discussion and Lecture 1 6
Risk management in Group Discussion Activity on what types of
PMBOK risks can be developed through discussed
influencers, how should be they mitigate at
organizational level.
Lecture 2
Risk Management in PMBOK
Inputs
Tools and techniques
Outputs
8 Practicing Tools for Lecture 1 3
Identifying Risks Documentation Reviews
Brainstorming
Delphi technique:
Interviewing
Root cause analysis:
Lecture 2
Checklist Analysis:
Assumptions Analysis
Diagramming Techniques
SWOT Analysis
Expert Judgment

9 Practicing Tools for Lecture 1 3

Identifying Risks Output for Identify Risks
Risk Register
Practical work using input techniques to create
output techniques in excel.
Lecture 2
Developing risk management plan
Role of contingency and managerial reserves
Role of buffers and types of buffers to deal
with risks

10 Case Study Case study analysis and discussion with 6

respect to Islamic values
Monte Carlo in Italy
By Meghana Rao
From the mentioned reference book pg #242
11 Project Scope Control Lecture 1 1,4 & 6
 What is the Control Scope in a

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 Project?
 Control Scope Inputs
 Project Management Plan
 Project Documents
 Work Performance Data
 Organizational Process Assets
Lecture 2
 Tools and Techniques of Control
Scope
1. Variance Analysis
o Purchase price variance
o Labor rate variance
o Variable overhead spending variance
o Fixed overhead spending variance
o Material yield variance
o Labor efficiency variance
o Variable overhead efficiency variance
2. Trend Analysis
o Types of Trend Analysis
 Geographic
 Temporal
 Intuitive
o Trend Analysis Methods
 Revenue and Cost Analysis
 Investment Analysis
12 Project Schedule Control Lecture 1 4,5 & 6
overview
Control schedule: inputs
Control schedule: tools and techniques
Control schedule: outputs
Lecture 2
Practicing schedule control techniques
13 Project Cost Control Lecture 1 4, 5 & 6
Overview
Control costs: inputs
Control costs: tools and techniques
Control costs: outputs
Lecture 2
Practicing cost control techniques
14 Case Study Case study analysis and discussion with 6
respect to Islamic values
Assessments of Barriers to Implementing Cost
Control and Optimal Cost Reduction
Techniques in Construction Projects: A Case
Study of Egypt
Yasser M. R. Aboelmagd

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 Faculty of Engineering, Alexandria
University, Egypt
15 Guest Lecture (Seminar) Problems in project risk and control All CLOs
management in Pakistan. What is missing?
16 Individual presentations Presentations All CLOs
17 Final Exams Exams All CLOs

Mapping of CLOs with Assessment

CLO4 CLO6
CLO1 CLO2 CLO3 CLO5
Assessments/CLOs
Quizzes: 20% X X X X
Assignments: 20% X X X X

Class Participation 10% X X X

Project & Presentations

20% X X

Mid-Term 10% X X X
End Semester Exam:20% X X X X X X

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