CPH_PMOR Managing Risk, Procedures and Techniques

Faculty of Economics and Administration
Spring 2019
Extent and Intensity
0/0/0. 4 credit(s). Type of Completion: zk (examination).
Teacher(s)
Tuck Lloyd Crawford MacRae, M. B.A. (lecturer)
Ing. Petr Smutný, Ph.D. (lecturer)
Guaranteed by
Ing. Petr Smutný, Ph.D.
Department of Business Management – Faculty of Economics and Administration
Contact Person: Ing. Petr Smutný, Ph.D.
Prerequisites
This course is intended for graduate and advanced undergraduate students entering their final year of study in management, research and development or the physical / applied sciences (engineering, computer science, physics, chemistry, biology, oceanography, and so forth) who wish to develop their skills in risk management. Individuals outside of academia may also participate upon approval.

Preference is given to those enrolled in the Project Management Certification Programme offered by the Masaryk University Project management Centre of excellence.

Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
Managing Risk: Procedures and Techniques is intended to help organizations put in place an effective framework for risk management. This will help them make informed decisions about the risks that affect their strategic, programme, project and operational objectives.

The course provides a route map for risk management, bringing together an approach, a process with a set of interrelated process steps, basic concepts, and pointers to more detailed sources of advice on risk management techniques and specialisms. It also provides advice on how the principles, approach and processes should be embedded, reviewed and applied differently depending on the nature of the objectives at risk.
Learning outcomes
Upon completion, participants should understand the structure, basic concepts and terminology used in a standardized risk management method. Specifically candidates should for any organizational perspective:

• Know the facts, terms, concepts and relationships between the elements of the method framework (principles, approach, processes and embedding and reviewing)
• Understand how the principles, approach, and processes are used
• Be able to identify the framework documents and understand their uses and differences.
• Be able to apply the principles, approach, processes and techniques
• Be able to review and make recommendations to embed the method framework into an organisation
• Be able to create and assess any of the framework documents.
Syllabus
  • The definition of risk and risk management
  • Risk management and corporate governance terms used in the method
  • The main elements of the method framework, their purpose and the actions needed for effective risk management
  • The four perspectives and their relationship with long-term,medium- term and short-term goals
  • How decisions about risk vary depending on the organizational objectives
  • How risk management supports better decision-making and how effective risk management is likely to improve performance against objectives
  • The benefits of risk management
  • How specific principles support corporate governance and internal control
  • The mechanisms that support each principle and the differences between them
  • How the principles provide the foundation for scalable and context-specific practices to be developed and refined
  • Documentation best practices
  • Concepts supporting the contents of a risk management policy
  • The difference between inherent, secondary and residual risks
  • The part played by communications throughout the process
  • Stakeholders and their importance to the identification, assessment and control of risk.
Literature
    required literature
  • Management of Risk - Guidance for Practitioners 3rd Edition
Teaching methods
Course delivery includes lectures, class discussion,and is lead by a certified risk management professional. Homework and reading forms an integral part of the course.
Assessment methods
Two written exams
Language of instruction
English
Follow-Up Courses
Further comments (probably available only in Czech)
The course is taught annually.
The course is taught: in blocks.
Note related to how often the course is taught: 24 hodin.
  • Enrolment Statistics (recent)
  • Permalink: https://is.muni.cz/course/econ/spring2019/CPH_PMOR