This unit describes the skills and knowledge required to manage risks that may impact achievement of project objectives. It involves identifying, analysing, treating and monitoring project risks, and assessing risk management outcomes.

It applies to individuals responsible for managing and leading a project in an organisation, business, or as a consultant.


  1. Identify project risks
  2. Analyse project risks
  3. Establish risk treatments and controls
  4. Monitor and control project risks
  5. Assess risk management outcomes

Upon successful completion of this unit, you will:

  • conduct effective risk management for a project of sufficient complexity to demonstrate the full range of performance requirements
  • apply risk management techniques, strategies and tools

Demonstrate knowledge of:

  • project risks in a range of risk categories
  • key components of a risk management plan
  • industry sector risk classifications and relate these to different risk contexts
  • organisational and industry standard risk frameworks
  • the characteristics, techniques and appropriate applications of quantitative and qualitative risk management techniques and approaches

Nominal Hours: 40