There are no pre-requisites for this module to be added

This module introduces key concepts in corporate risk management. You will learn about different types and levels of risk, risk classification, and the associated costs. The module explores how risks are managed within organisations, covering identification, analysis, and evaluation techniques. It also looks at risk behaviour, decision-making under uncertainty, and strategies for loss prevention, loss reduction, and contingency planning, including business continuity. You will examine risk transfer methods such as insurance and non-insurance options, along with their advantages and limitations. The module also covers risk financing strategies, including retention and captives, and introduces the concept of enterprise risk management.

Upon completion of this module you will be able to

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.