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Fundamentals of Risk and Risk Management - ACTL6001
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Campus: Kensington Campus
 
 
Career: Postgraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.12500 (more info)
 
 
Indicative Contact Hours per Week: 3
 
 
CSS Contribution Charge:Band 3 (more info)
 
   
 
Further Information: See Class Timetable
 
  

Description

This is the first in a series of four required courses in the Master of Risk Management program, which aims to introduce students to the complex and diverse range of risks that organizations must manage in today's increasingly global environment.

The course discusses the complex nature of the words 'uncertainty' and 'risk', and how their many definitions and interpretations impact risk management. Subsequent lectures demonstrate why organizations must manage risks and what is different in the way they approach risk management today, compared to the past. The fundamental role risk culture and communication play in ensuring an organization’s ability to manage risks at Enterprise level is emphasized, and various frameworks for risk management reviewed. These include the ISO 31000 and Basel II, together with frameworks to manage risks in relation to major projects, emerging technologies and the environment.

The course reviews concepts of audit and governance, together with risk disclosure, regulation and compliance, and their role in the risk management process. The final lecture challenges students to think laterally about some of today's complexities of risk management in organisations, including the role of ethics and corporate integrity, dealing with unknown risks, and the potential impact of globalization on risk management in the decades to come.

The course aims to enhance students' ability to think 'outside the box' and encourages them to find solutions to complex problems, given limited information. Class debates and case study lectures are used to achieve these student attributes.


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© The University of New South Wales (CRICOS Provider No.: 00098G), 2004-2011. The information contained in this Handbook is indicative only. While every effort is made to keep this information up-to-date, the University reserves the right to discontinue or vary arrangements, programs and courses at any time without notice and at its discretion. While the University will try to avoid or minimise any inconvenience, changes may also be made to programs, courses and staff after enrolment. The University may also set limits on the number of students in a course.