.

Features of risk, levels of risk, classification of risk, cost of risk, organisation of risk
Essentials of risk management, risk identification methods, risk analysis and evaluation, physical and financial control methods
Risk behaviour analysis, risk and decision-making
Loss prevention and reduction, loss accumulation
Contingency planning, business continuity planning, disaster recovery concept and techniques
Insurance and non-insurance transfer, limitations and constraints of insurance, advantages of insurance
Risk financing, full and partial retention alternatives, captives
The emerging concept of enterprise risk management

12. Learning Outcomes for module
LO1: Critically review the philosophy of risk management and its application in different organisations
LO2: Critically evaluate the techniques of risk management in a variety of situations and in response to changing risk patterns
LO3: Analyse the impact of human behaviour on attitudes to risk
LO4: Critically appraise the factors risk managers need to take into account in order to prevent or restrict the extent of loss
LO5: Analyse and evaluate the various financing techniques available to the risk manager in dealing with risk
LO6: Analyse the current developments which are taking place in the area of risk management, in particular, the more holistic approach which is incorporated in the concept of enterprise risk management