FIN08017 2016 Principles of Risk and Risk Management

General Details

Full Title
Principles of Risk and Risk Management
Transcript Title
Principles Risk Management
Code
FIN08017
Attendance
N/A %
Subject Area
FIN - Finance
Department
BUS - Business
Level
08 - NFQ Level 8
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2016 - Full Academic Year 2016-17
End Term
9999 - The End of Time
Author(s)
Clodagh Caslin
Programme Membership
SG_BFINA_H08 201600 Bachelor of Business (Honours) in Finance and Investment SG_BFINV_K08 201700 Bachelor of Business (Honours) in Finance and Investment Stream(Add-on) SG_BBUSI_H08 201900 Bachelor of Business (Honours) in Business L8 (Ab-initio)
Description

This module aims to provide the students with an introduction to the theory, principles of risk and risk management and  to understand current risk management thinking.

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Explain the origins and key concepts relating to risk management

2.

Discuss the main risk management standards

3.

Outline the concepts of enterprise risk management

4.

Describe the main approaches to risk identification

5.

Explain the main approaches to the analysis and evaluation of risk

6.

Outline the main feature of risk control techniques

Teaching and Learning Strategies

The student will engage with the content of the module through lectures, case studies, problem based learning and the use of interactive multi media tools.

Module Assessment Strategies

The continuous assessment will consist of one of the following:

  • Group project
  • Written assessment
  • Essay
  • Report

Repeat Assessments

Repeat Final exam only

Indicative Syllabus

1. Concepts and definiations - Definitions of risk, impact of risk on organisations, introduction to types of risk, definitions and development of risk management, principles and aims of risk management.

2. Risk management standards  - General risk management standards, alternative risk management approaches

3. Enterprise risk management COSO 2004, enterprise risk management, implementing ERM, establishing the context for risk management.

4. Risk identification Risk assessment considerations, risk classification systems (risk identification), risk causes (sources) and consequences.

5. Risk analysis and evaluation Introduction to risk analysis, risk likelihood and impact, loss control, defining the upside of risk, the importance of risk appetite (risk evaluation).

6. Risk responses and risk treatment Introduction to risk treatment and risk response, the 4Ts, risk control techniques,  introduction to monitoring and review, insurance and risk transfer, business continuity planning (BCP) etc

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
30 %
End of Semester / Year Formal Exam
70 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Continuous assessment will consist of one of the following: Group project, Written assessment ,Essay, Case Study, Report Continuous Assessment Assessment 30 % Any 1,2,3,4,5,6
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam Final Exam UNKNOWN 70 % End of Term 1,2,3,4,5,6
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Independent Learning UNKNOWN Independent 3 Weekly 3.00
Lecture Tiered Classroom Lecture 3 Weekly 3.00
Total Full Time Average Weekly Learner Contact Time 3.00 Hours

Required & Recommended Book List

Recommended Reading
2014-10-28 Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management Kogan Page
ISBN 0749472448 ISBN-13 9780749472443

It is increasingly important that organizations recognize, assess and respond to all forms of risk that they face. Fundamentals of Risk Management, now in its third edition, provides a comprehensive introduction to the subject of commercial and business risk.  Completely aligned to ISO 31000, it examines the key components of risk management and its application, with examples to demonstrate its benefit to organizations in the public and private sector.

Exploring the different types of risk an organization faces, including hazard risks and uncertainties, chapters provide the core concepts of business continuity planning, enterprise risk management and project risk management as well as a thorough overview of the international risk management standards and frameworks, strategy and policy.  Fundamentals of Risk Management is the definitive text for emerging professionals and risk management students.

Module Resources

Non ISBN Literary Resources

Paul Hopkin, 2014 Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management Kogan Page
ISBN-10 0749472448, ISBN-13 9780749472443

URL Resources

http://www.coso.org/guidance.htm

https://www.theirm.org/media/886059/ARMS_2002_IRM.pdf

https://www.rims.org/resources/ERM/Pages/ResourcesLinks.aspx

 

Other Resources

None

Additional Information

None