SHE Level 2
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M2N325683
Module Leader Taylor Bourne
School Glasgow School for Business and Society
Subject Risk
  • A (September start)

Summary of Content

This module explores a range of risk identification techniques and the formal evaluation of risk by a variety of risk analysis techniques. In addition, it will introduce students to the main methods of controlling the risks faced by private and public sector organisations. GSBS will continue to use the advancement of GCU Learn as a blended learning tool through its teaching and learning as well as through engagement with students. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCULearn to ensure student support and information sharing. Students are provided with formative and summative feedback via a variety of mechanisms. Feedback on coursework is provided within 3 working weeks of submission


The benefits of Risk Identification and Risk Analysis. Anticipatory v's Reactionary Risk Identification analysis theory. Established and Emerging Risk Identification Analysis tools. Criteria for the application of pertinent techniques. Pre-loss v's Post-Loss Risk Analysis - Practice and Issues. The role of data and measurement in risk analysis - frequency, severity, probability. Risk Management Information: -Sources -Data Collection -Data Representation. Risk control in the risk management cycle. Risk assessment as a prelude to risk control. Use of a Risk Register. Risk control standards. Principles of physical control. Statutory and non-statutory controls. Insurance as a risk control mechanism. Internal and External Audit. Treasury Risk. Risk Control Case Studies.

Learning Outcomes

On successful completion of this module, the student should be able to:1. Discuss and support the relevance and importance of the risk identification and analysis function.2. Recognise the importance of risk management information and be able to apply a range of risk identification and analysis techniques.3. Select an appropriate risk identification technique for a given situation and explain the criteria upon which such decisions are based.4. Identify and define appropriate measurements to facilitate risk analysis.5. Demonstrate a knowledge and understanding of how risk assessment is a necessary prelude to satisfactory risk control.6. Identify and evaluate the main forms and likely effectiveness of managerial, physical and financial control measures

Teaching / Learning Strategy

The learning outcomes for this module are based upon lectures which provide students with the essential knowledge of the key topic areas. These are supplemented by tutorials, which allow the application and deeper discussion of these topic areas. Students are required, either individually or in groups, to make a short seminar presentation. This presentation will require them to conduct some independent research of a range of literature sources

Indicative Reading

Books and articles: Baxter, K. (2010), Risk Management: Fast Track to Success, Financial Times/ Prentice Hall Crouhy, M. Galai, D. & Mark, R. (2006), The Essentials of Risk Management: The Definitive Guide for the Non-risk Professional, McGraw-Hill Professional. Coleman, T.S. (2011), A Practical Guide to Risk Management, Research Foundation of CFA Institute. Jeynes J (2002), Risk Management: 10 Principles", Butterworth Heinemann, Oxford Hopkins, P. (2012), Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management, Kogan Page. Gigerenser, G. (2002), Reckoning with Risk: Learning to Live with Uncertainty, UK, Penguin. Pickford, J. (Ed), (2001), Mastering Risk, Vol. 1: Concepts, London. Walsh, J, (1998), True Odds, USA, Silver Lake. Bannister, J, (1997) How to Manage Risk, London, LLP Bannister J (1997) "How to Manage Risk", JLLP Professional Publishing Dickson, GCD, (2003), Risk Analysis, London, Witherby Hopkin P (2009), Holistic Risk Management in Practice, Witherby, London Roberts, G. (2002) Risk Management in Healthcare, London: Witherby Stollard P & Abrahams J (1995), Fire from First Principles,(2nd edition) London,Spon Vincent, C. (Ed.) (2001) Clinical Risk Management: Enhancing patient safety, London: BMJ Books Waring A & Glendon I (1998), Managing Risk: Critical Issues for Survival and Success into the 21st Century, London, International Thomson Business Press Davis M., Hood J., Stein W., (1997), Insurance Non-Marine: An Introduction, London, Witherby Weinstein, M.B. (1997) Total Quality Safety Management and Auditing, New York:Lewis Publishers. ISBN 1-56670-283-6 Wilkinson S (2003), Risk Control, 2nd Edition, London, Witherby Stranks J., (1996), The Law and Practice of Risk Assessment, London, Pitman Online sources: Chartered Insurance Institute: http://www.cii.co.uk The Institute of Risk Management www.theirm.org/fd Association of Insurance & Risk Ma:nagers: <http://www.airmic.com> Health & Safety Exectutive: http://www.hse.gov.uk ALARM www.alarm-uk.org/fd Financial Services Authority: http:// www.fsa.gov.uk <http://www.fsa.gov.uk> Journals and Newspapers The Journal: Chartered Insurance Institute, London(bi-monthly) Post Magazine, London, Timothy Benn Publishing (weekly) Strategic Risk The Health and Safety Practitioner

Transferrable Skills

By the end of this module students will have gained competence in the following key areas: This module will evolve necessary professional and analytical skills pertaining to risk analysis and risk control. As well as the achievement of the learning outcomes students will also develop personal transferrable skills in report wrting, self management, essay writing, case analysis, problem solving and critical thinking.

Module Structure

Activity Total Hours
Assessment (FT) 40.00
Seminars (FT) 12.00
Independent Learning (FT) 124.00
Lectures (FT) 24.00

Assessment Methods

Component Duration Weighting Threshold Description
Course Work 01 n/a 50.00 35% Report (2000 words)
Exam 01 2.00 50.00 35% Unseen exam (2 hours)