RISK MANAGEMENT IN ORGANISATIONS

SHE Level 2
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M2N211739
Module Leader Darinka Asenova
School Glasgow School for Business and Society
Subject Risk
Trimester
  • B (January start)

Pre-Requisite Knowledge

M1N311719 Foundation Risk Management or M2N311735 Introduction To Risk Management

Summary of Content

This module contextualises the principles of risk management introduced in the Introduction to Risk Management and Foundation Risk Management modules, and examines the role of risk management in a range of organisations, including commercial, industrial, public and voluntary sector, with an emphasis on how risk management adds value to the organisation and the variety of ways in which risk management can be delivered.

Syllabus

1. Introduction to risk management in organisations. 2. Risk management standards. 3. Risk management in the private sector, Introduction to Corporate Governance. 4. Risk management in the public sector. 5. Drivers for risk management. 6. Strategic risk management. 7. Operational risk management. 8. Relationship between risk management and other corporate functions. 9. Enterprise-wide risk management 10. Risk Management in banking and beyond the credit crises 11. Corporate social responsibility.

Learning Outcomes

At the end of this module the student should be able to:1. Explain how risk management assists an organisation in achieving its strategic objectives.2. Evaluate the role of risk management in a variety of organisations. 3. Explain the relationship between risk management and other corporate functions.4. Discuss and debate current topical risk management issues.5. Research, analyse and discuss risk management case studies.

Teaching / Learning Strategy

Formative assessment will form a key part of the student feedback strategy. The learning outcomes will be delivered utilising a combination of lectures and directed learning materials. Seminars provide the opportunity to supplement the core material by analysing and discussing particular issues. A practical dimension is added through analysis of real risk management case studies and presentations by guest speakers and industrial visits. Student Performance Feedback Aims Students will be provided with feedback on all forms of assessed work within three weeks of submission. They will also receive feedback on all group or individual contributions to the module. The feedback that they have receive is designed to: A: Facilitate the developmetn of self-assessment B: Encourage dialogue C: Clarify good performance D: Provide opportunities to close the gap between current and desired performance E: Deliver high quality information about your learning F: Encourage postive motivational beliefs and self-esteem G: Provide information to teachers that can be used to help shape the teaching Strategies In order to achieve these aims, the following strategies will be adopted by this module: A: Facilitiating the development of self-assessment Students will be provided with a template for the evaluation of their coursework. They will be encouraged to identify the strenghts and weaknesses of their own work in relation to the criteria prior to submission. B: Encouraging dialogue Time will be set aside in seminars to discuss generic feedback. Students will also be encouraged to meet with module tutors to review their personal performance. C: Clarifying good performance Students will be given clear guidance on requirements using marking criteria sheets and performance level definations. D: Providing opportunities to close the gap between current and desired performance Feedback will indentify generic and individual action points for improving performance. E: Delivering high quality information about your learning Feedback will identify strenghts, weaknesses and corrective advice. Time will also be set aside in seminars to provide feedback on formative assigments. F: Encouraging positive motivational beliefs and self esteem All feedback will be constructive and clear. It will identify strenghts in performance. G: Providing information to teachers that can be used to help shape the teaching Discussion Boards will be utilised to indentify the areas of the coursework students found most challenging.

Indicative Reading

Books: Marthinsen, J. (2009) Risk Takers: Uses and Abuses of Financial Derivatives, Pearson. Edwards, P.J. (2004), Risk Management in Project Organisations, Butterworth Heinemann. Power, M. (2004), The Risk Management of Everything, Demos. Ward, S. (2005), Risk Management Organisation and Context, Witherbys. Young, P. and Tippings (2001), Managing Business Risk, New York, Amakom. Borge, D. (2001), The Book of Risk, New York, John Wiley & Sons Inc. Fone, M. and Young, P. (2000), Public Sector Risk Management, Oxford, Butterworth Heinemann. Pickford, J. (2001), Financial Times Mastering Risk, Volume 1 Concepts, (2001), London, Prentice Hall. Barton, T. Shenkir, W. and Walker, P. (2002), Making Enterprise Risk Management Pay Off, London, Prentice Hall. Journals: Journal of Risk Research Risk Decision and Policy The Geneva Papers on Risk and Insurance Useful Internet Addresses: http://www.strategicrisk.co.uk/ http://wwwriskmanagement.com.au/ http://www.theirm.org/ http://www.airmic.com/ http://www.alarm-uk.org/ http://www.frc.org.uk/ http://www.hse.gov.uk/risk/index/htm http://www.hm-treasury.gov.uk/ http://www.nao.org.uk http://www.npsa.nhs.uk http://www.thebci.org/mainindex.htm http://www.icaew.co.uk/ http://www.ferma-asso.org

Transferrable Skills

Working individually and in groups, students are encouraged to develop personal transferable skills through classroom discussion, oral presentations using visual aids and report writing. In addition, students develop problem solving and analytic skills by applying knowledge gained from the theory and practical examples.

Module Structure

Activity Total Hours
Directed Learning 68.00
Assessment (FT) 35.00
Independent Learning (FT) 61.00
Seminars (FT) 12.00
Lectures (FT) 24.00

Assessment Methods

Component Duration Weighting Threshold Description
Exam (Exams Office) 2.00 50.00 40% EXAM 35% min applies40% overall to pass the module
Coursework 0.00 50.00 40% Report 2,000 Words 35% min applies