SHE Level 5
SCQF Credit Points 4.00
ECTS Credit Points 2.00
Module Code MMNY24894
Module Leader n/a
School School of Computing, Engineering and Built Environment
Subject GCU New York
  • A (September start)
  • B (January start)
  • C (May start)

Summary of Content

The module starts by introducing the students to key theoretical concepts, risk management processes and practices within spectrum of contexts within which risk is currently understood. It discussed cutting-edge risk issues related to different organisational types, organisational culture and environment, power relationships, managing change and enterprise risk management. Practical case studies are used to illustrate many of these aspects in some detail. The second part of the module provides an understanding of the core concepts and tools used to build modern risk analysis models. It uses hands-on approach and practical computing exercises to introduce the students to the mathematical and statistical foundations of risk analysis. These core mathematical, statistical and computing concepts are then combined to explore a number of modern risk analysis modelling techniques.


-360 1. An introduction to risk management 2. Culture and risk 3. Power and risk 4. Risk and change 5. Risk assessment 6. Project risk management 7. Core concepts in risk models : Qualitative and Quantitative Risk 8. Probability & Probability Distributions 9. Optimisation and Monte-Carlo simulation methods 10. Qualitative- and Quantitative Risk Models using in Excel and @Risk

Learning Outcomes

On successful completion of this module the student should be able to:1. Demonstrate advanced working knowledge of a range of key concepts, risk management processes and practices within spectrum of organisational contexts.2. Discuss a range of contemporary risk management issues and relate them to the organisational culture, environment, power, organisational change, within holistic risk management approach 3. Critically evaluate risk management case studies using qualitative and quantitative information.4. Understand the possibilities of using simulation tools to solve risk-related problems and apply basic statistical and mathematical techniques using Microsoft Excel and @Risk in order to solve risk modelling problems.

Teaching / Learning Strategy

The teaching and learning strategy will utilize lectures, computing labs, group discussions and presentations from experts in individual fields to support the learning process. Conceptual and framework material will be produced with the lectures and students will be given directed reading of relevant journals and higher level textbooks to analyse prior to the sessions and ensure the process of deepening engagement. GCU Learn will be utilized as appropriate. The more complex and abstract mathematical concepts will be taught in an intuitive, 'hands-on' way, encouraging the students to experiment and interact with the mathematical tools presented. The subject-matter will be taught assuming only elementary mathematical and computing skills, allowing a broad range of students to benefit from the methods and techniques employed. The module has been designed for delivery in the following modes: a) Lectures delivered on campus for full- and part- time students. b) Distance learning using learning materials with tutor support and Web-access to library resources. Feedback strategy - aims Students will be provided with feedback within three weeks of submission. The feedback that they receive is designed to: A: Facilitate the development 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 individual learning; F: Encourage positive motivational beliefs and self-esteem; G: Provide information to teachers that can be used to help shape the teaching. 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.

Indicative Reading

-357b7 Woods, M. (2011) Risk Management in Organisations: An integrated case study approach, Routledge. b7 Chapman, R. J. (2011) Simple Tools and Techniques for Enterprise Risk Management, John Wiley & Sons. b7 Reuvid, J. (2012) Managing Business Risk: A Practical Guide to Protecting Your Business, Philadelphia, Kogan. b7 Hubbard, D. (2009) The Failure of Risk Management: Why It's Broken and How to Fix It, John Wiley & Sons, Hoboken, New Jersey. b7 Fraser, J. and Simkin, B. (ed.) (2010) Enterprise Risk Management, Today's Leading Research and Practice for Tomorrow's Executives, John Wiley & Sons.Manzo, J. (2004) Excel 2007 in Business (Comprehensive Version), Pearson, ISBN 0-13-199171-1. b7 Damodaran, A. (2008) Strategic Risk Taking: A Framework for Risk Management, Wharton School Publishing. b7 Merna, T. and Al-Thani, F. (2008) Corporate Risk Management, John Wiley & Sons. b7 Manzo, J. (2004) Excel 2007 in Business (Comprehensive Version), Pearson, ISBN 0-13-199171-1 -357b7 Houston, J & Walters, S, (2013) Risk Analysis & Modelling, using Excel and @Risk, In-house course notes

Transferrable Skills

In addition to the attainment of learning outcomes students will develop personal transferable skills in self management, advanced writing, case study analysis, use of quantitative methods, problem solving and critical thinking. The module will encourage the understanding and application of clear, progressive conceptual approaches and thinking. As a part of the broader transferable students will able to demonstrate: 1. Advanced knowledge in the subject area. 2. Use computers as a learning tool to explore models and ideas and for problem solving.

Module Structure

Activity Total Hours
Practicals (FT) 11.00
Tutorials (FT) 30.00
Independent Learning (FT) 70.00
Seminars (FT) 11.00
Assessment (FT) 56.00
Lectures (FT) 22.00

Assessment Methods

Component Duration Weighting Threshold Description
Lab Assess n/a 50.00 n/a In-lab Assessment
Essay n/a 50.00 n/a Structured essay (3000 words)