Risk Management

Abstract

This subject develops a framework to assess, measure and reduce risk using qualitative and quantitative approaches. The influence of the decision maker through individual bias and decision-making heuristics is also examined. The subject is closely linked with the key industry risk management standards AS/NZS 4360 and ISO31000. Through the application … For more content click the Read More button below.

This subject develops a framework to assess, measure and reduce risk using qualitative and quantitative approaches. The influence of the decision maker through individual bias and decision-making heuristics is also examined. The subject is closely linked with the key industry risk management standards AS/NZS 4360 and ISO31000. Through the application of real world problems, students will become familiar with the role of the risk manager. Students will also explore the use of risk management tools and how to incorporate these into their management design and strategies.

Syllabus

Defining risk and differentiating between risk and uncertaintyThe role of the individual in the risk management processThe importance of understanding risk as part of a broader decision making processModelling and measuring risk using qualitative and quantitative techniquesRanking risk and prioritising riskTreating risk through retention, transfer and avoidance

Handbook

MGT360 - Risk Management

Abstract

Syllabus