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

The module covers fundamentals of risk: features of risk, factors involved, categorisation of types, and risk management processes including the use of traditional risk management and enterprise risk management (ERM). We will consider the role of risk management and risk culture in the organisation, explain the functions of risk management including transfer/insurance, analyse the factors affecting a persons response to risk, apply techniques for decision making under conditions of risk and uncertainty. We consider risk control options, review the need for contingency planning, discuss the means of planning for loss of a computer system, supply chain disruption and the specific requirements for cyber contingency and incident management. The rationale and preconditions for “captive insurance companies” are analysed. Consideration of risks requires a perspective from the micro, organisational level to a macro, market or global perspective and will encompass the Environmental, Social and Governance risks that may damage corporate reputation.

Upon completion of this module you will be able to

LO1: Critically review the theory and models underpinning of risk management and how these approaches can be applied in practice.

LO2: Critically analyse the impact of human behaviour on attitudes to risk and risk mitigation.

LO3: Critically appraise the factors risk managers need to take into account in order to prevent and manage the consequences of risk.

LO4: Critically assess contemporary issues in risk management strategy, culture, and operations and implications for organisational resilience.

LO5: Critically analyse risk issues and present this analysis for an informed audience using appropriate media.