Explore how uncertainty, perception, and culture shape risk while developing strategies to manage them in real-world scenarios.
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Managing Risk 2: Project Feasibility and Risk-Informed Decision Making
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Online
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This course takes you from foundational knowledge into strategic application. Co-designed with the Safety Academy by Qantas Group and RMIT Aviation Academy, it shows you how to embed risk thinking into feasibility assessments, system audits and safety planning so you can make stronger business decisions in uncertain environments.
You’ll work with advanced tools like bowtie, fault-tree and event-tree analysis, the same techniques used by Qantas to evaluate complex aviation operations and apply them to real-world case studies.
Alongside the technical skills, you’ll also explore the impact of uncertainty, perception and organisational culture on risk, giving you a deeper understanding of how safety decisions are made in practice.
By the end of the course, you’ll graduate with the frameworks, confidence and industry-tested strategies to improve Safety Management Systems and lead resilient, risk-informed organisations.
- Mid to senior career professionals working in high-risk, high-reliability industries, seeking to formalise or broaden their safety and risk management expertise.
- Industry-embedded leaders and team managers responsible for safety across complex operational environments – from aviation and marine to rail, petrochemicals and public safety.
- Professionals looking to transition from defense or public sector roles into corporate safety leadership positions.
- Safety officers, airport managers, dispatchers, pilots and analysts wanting to upskill, stay current with evolving practices, and validate on-the-job experience with formal learning.
By the end of this course, you’ll be able to:
- Analyse emerging and contemporary problems in risk management
- Apply national and international standards and regulations relating to risk management
- Evaluate the effectiveness of risk mitigation and treatment strategies in real-world contexts
- Use advanced tools and techniques for risk analysis, applying either fault-tree analysis, event-tree analysis or bowtie analysis
- Assess and improve Safety Management Systems to enhance organisational safety.
Delivered online over 6 weeks, this course combines flexible weekly learning with a workplace-relevant final project. You’ll graduate with applied knowledge you can bring directly into your role, whether you’re shaping a business case, auditing a system, or leading a project.
You’ll be able to apply advanced risk analysis tools like bowtie, fault-tree and event-tree to evaluate controls and strengthen Safety Management Systems. By the end of the course, you’ll be confident embedding risk thinking into feasibility assessments and business planning reflecting the advanced practices used in aviation safety.
This is Part 2 of Managing Risk. Part 1 is Managing Risk: Risk Analysis and Management. These courses are designed to be taken one after the other.
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Course Structure
Learn more about Managing Risk 2: Project Feasibility and Risk-Informed Decision MakingModule 1: Safety Management Systems (SMS) and SMS culture
+- Understand the components and functions of Safety Management Systems
- Evaluate the impact of organisational culture on SMS implementation
- Develop strategies to foster a positive SMS culture within an organisation
Module 2: Organisations, regulations, and standards
+- Identify relevant national and international regulations and standards related to risk management
- Apply these standards to organisational practices and procedures
- Analyse how compliance affects organisational operations and risk management
Module 3: Advanced risk analysis
+- Utilise advanced analytical tools and techniques to assess risks
- Interpret results from risk analysis to inform decision-making
- Synthesize data to improve risk management strategies
Module 4: Uncertainty and risk perception
+- Analyse the role of perception in risk assessment and management
- Understand the nature and impact of uncertainty in risk scenarios
- Develop approaches to manage and communicate uncertainties effectively
Module 5: Overarching theme
+- Evaluate the current effectiveness of SMS and identify areas for improvement
- Design initiatives to enhance SMS performance and compliance
- Implement continuous improvement processes for sustainable SMS development
Module 6: Overarching theme 2.0
+- Identify and analyse emerging trends and challenges in SMS
- Evaluate the implications of these issues on existing systems and practices
- Develop adaptive strategies to address and integrate emerging issues into SMS planning
Learn with industry experts
Through the Safety Academy by Qantas Group, decades of aviation safety excellence combined with expertise from universities are being transformed into practical learning for the next generation of safety professionals. Designed to be inclusive and accessible to anyone with a passion for safety, the Safety Academy provides the opportunity...
Through the Safety Academy by Qantas Group, decades of aviation safety excellence combined with expertise from universities are being transformed into practical learning for the next generation of safety professionals. Designed to be inclusive and accessible to anyone with a passion for safety, the Safety Academy provides the opportunity to gain knowledge and skills that are transferrable across a breadth of industries and roles.
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RMIT is a global university of technology, design and enterprise.
One of Australia's original tertiary institutions, RMIT University enjoys an international reputation for excellence in professional and vocational education, applied research, and engagement with the needs of industry and the community.
RMIT is...
RMIT is a global university of technology, design and enterprise.
One of Australia's original tertiary institutions, RMIT University enjoys an international reputation for excellence in professional and vocational education, applied research, and engagement with the needs of industry and the community.
RMIT is a world leader in Art and Design; Architecture and the Built Environment; Engineering; Accounting and Finance; and Business and Management Studies.
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