Risk Management Module Details

Course/Module Description:

This course provides an overview to risk management in organizations. It looks ways to manage risk, identification and management of risks, as well as current issues. It covers the impetus behind enterprise risk management and the related corporate governance. It explains the relationship between corporate governance, internal control and risk management. It deals with different stages within the overall risk management process. It examines internal and external influences separately.

Course/ Module Objectives:

The main objectives of the course are:

1. To engage students in active discovery of risk management principles
2. To explore functions in a business environment such as developing an awareness of the challenges, the tools, and the process of designing and implementing a risk management program
3. To examine the way in which business and society make an assessment of, control and transfer risk. It is designed for the student with no previous knowledge of risk management
4. To explore the issues involved in the risk management of an enterprise

Course/Module Learning Outcomes:

After completion of the course students are expected to be able:

1. To identify and discuss various types of risks as well as prevent the risk and consequences of uncertainty and within a continuum of decision-making roles
2. To concisely put forward views on organisational imperatives for the risk management process. This relates to the Risk Management Process
3. To apply the techniques learned to new situations encountered in the working of an institution. This relates to the topics on Micro Factors and Macro Factors affecting risk scenarios
4. To explain and use techniques to manage risk in a holistic, global, and integrated manner as well as use tools such as predictive analytics, modeling, and simulation to improve risk management