A two-hour unseen, closed-book examination (100%).

PLEASE NOTE ALTERNATIVE ASSESSMENTS FOR Semester 1 2020/21 DUE TO COVID-19 AS FOLLOWS: Assignment – 100%

Learning
-The theory and practice of risk that impacts the effectiveness and efficiency of the core process of an organization

The purpose and core elements of the risk management process within an organisational context, including:
-Risk assessment
- Risk analysis and evaluation
- Risk response and Business continuity
- Risk Strategy, control and risk reporting- Managing uncertainty
- identifying risk appetite

Practice
Risk Management techniques and evaluation
-Approaches on risk response and business continuity.

-The role of Risk Governance, Leadership and Communication
Current trends in risk management such Enterprise Risk Management, Operational Risk Management will be covered through practice/problem-based case examples that takes account of reaction

1. Assess the nature, scope and impact of risk and uncertainty in the business context and show a keen appreciation for attitudes to risk and the consequences of loss in the modern world. (Knowledge and Understanding)

2. To demonstrate critical understanding of a) the meaning of risk: b) the different categories of risk; c) the role and purpose of risk management; d) the core elements of the risk management process; e) the attributes of communication and leadership within risk management (Learning)
3. Develop and apply the relevant evaluation to assess enterprise risk management and operational risk management and take appropriate action in the face of risk and uncertainty.
(Problem Solving)

4. Reflect upon the role of risk & uncertainty faced by management and leadership and appreciating the random nature of global events in the context of underpinning strategic agility and drive for results competencies (Reflection)

-Virtual Learning Environment (VLE) teaching and other support material to aid independent and self-motivated learning
-Module handbook and weekly tutorial problem-solving sheets including key reading lists
-Briefing papers written by the team delivering the module to tailor the content to the class
-Specified textbooks and web-sites containing key data and up-to-date information
-Directed reading from current affairs taking into rapidly changing news events especially on financial markets.
-Problem/practice based case examples.

Renn, O., 2017. Risk governance: coping with uncertainty in a complex world. Routledge.
Bourrier, M. and Bieder, C. eds., 2018. Risk Communication for the Future: Towards Smart Risk Governance and Safety Management. Springer.
Taylor-Gooby, P. and Zinn, J.O. eds., 2006. Risk in social science. Oxford University Press.
Dorfman, M. and Cather, D. Introduction to Risk Management and Insurance Tenth Edition (2015). Prentice Hall
Dorfman, M. and Cather, D. Introduction to Risk Management and Insurance Tenth Edition (2015). Prentice Hall

Malkeil, B. A random walk down Wall Street Latest Edition (2015). W. W. Norton and Company

Taleb, N. N. The Black Swan: The impact of the Highly Improbable (2007). Penguin
Hopkin, P., 2018. Fundamentals of risk management: understanding, evaluating and implementing effective risk management. Kogan Page Publishers.

The learning strategy for this module is based around students committing a total of 150 hours of activities towards achieving the learning outcomes. These will be split between 39 hours of direct contact with a tutor and 111 hours of directed, guided and self-study, together with preparation for and completion of the assessment tasks. Learning support material will be provided for the module.
The module will draw upon a mixture of activities including lectures, web-based activities, case study analysis, relevant videos and in-class discussions, individual and group problem solving and self-directed learning.

An innovative module that covers the core principles of risk and uncertainty in a business context. These concepts are applied to the main ways to manage risk such as insurance and hedging within financial markets. The aim of the module is to provide clear strategies for decision-makers to deal with risk and uncertainty despite a rapidly changing and unpredictable economic environment.