Managing Risk Part 2: Project Feasibility and Risk-Informed Decision Making

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: 

• Identify and analyse emerging risk issues and their implications for stakeholders, organisational operations and safety system performance.
• Interpret national and international standards and regulations to inform how regulatory and stakeholder expectations influence risk management and Safety Management Systems.
• Assess the effectiveness of risk mitigation and treatment strategies within Safety Management Systems using systematic evaluation methods and consideration of consequence pathways.
• Apply advanced risk analysis techniques such as fault-tree, event-tree or bowtie analysis to examine organisational risk pathways and system interactions.
• Identify and interpret evidence of Safety Management System performance to recommend context-appropriate improvements for stakeholders.

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.