Individual risk attitudes in postgraduate risk management education

Risk management is important for contemporary construction organisations and is a vital constituent of project management education. Before learning about the processes of systematic risk management, construction and project management students need to better understand risk concepts and their own attitudes towards risk. Risk is a psycho-social construct experienced and perceived by individuals. In the Risk in Construction subject offered in the Master of Construction Management programme at the University of Melbourne, students were first invited to respond to a simple questionnaire that measured their own risk attitudes from a task, team and individual risk perspective. This self-knowledge discovery was then applied in their subsequent individual and group assignment work for the subject. The risk profiles were also used in a novel approach to assignment group formation. Students valued the opportunity to explore the alignment between formal project risk management and their own risk attitudes, and used their newly-found understanding in other management-related subjects. Future research will explore cultural and gender influences in these student journeys of self-understanding.