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1 Introduction To Risk Management - R1

This document outlines a course on risk management presented by the Copperbelt University School of Business. The course aims to give students an in-depth understanding of risk management concepts and applications. It will cover the full risk management cycle and tools to identify, assess, and respond to risks at the corporate, strategic, and project levels. Students will be assessed through coursework, tests, and a final exam. Learning methods include lectures, case studies, tutorials, and private study.

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francis malama
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111 views8 pages

1 Introduction To Risk Management - R1

This document outlines a course on risk management presented by the Copperbelt University School of Business. The course aims to give students an in-depth understanding of risk management concepts and applications. It will cover the full risk management cycle and tools to identify, assess, and respond to risks at the corporate, strategic, and project levels. Students will be assessed through coursework, tests, and a final exam. Learning methods include lectures, case studies, tutorials, and private study.

Uploaded by

francis malama
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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THE COPPERBELT UNIVERSITY

School of Business

RISK MANAGEMENT

(BSP 332)

Presented by: P. Choongo


1
THE COPPERBELT UNIVERSITY
School of Business

COURSE OUTLINE

Learning Outcomes
• Have in depth knowledge concept and application of risk
management
• Understand & develop whole risk management cycle for
any given situation
• Identify correct risk management tools and techniques for
use for each particular given case
• Application of risk management plan at three different
stages of an organisation namely – corporate, strategic
business unit and the project levels 2
THE COPPERBELT UNIVERSITY
School of Business

COURSE OUTLINE

• Introduction to risk management


• Risk management, Uncertainty and Opportunity. Sources of risks and types of risks
• Risk Management Process/cycle
• Risk management tools and techniques
• Corporate Risk Management

• Strategic Risk Management


• Project Risk Management
• Risk Management and International projects
3
THE COPPERBELT UNIVERSITY
School of Business

Learning and Assessment Methods

Learning Methods Assessment Methods


Lectures Course work – 20%
Case Studies Test - 20%
Tutorial Exam - 60%
Private Studies Total - 100%

4
Introduction to Risk Management

Risk
• Inherent in every business/Project
• All projects subject to risk, uncertainty and opportunity
• Company success is achieved by pursing opportunities
• Project risk is any event that limits or prevents achieve of
objectives
• Risk can affect the achievement of objectives
• Serious threat (risk) may cause the project to be modified or
abandoned
• Risk deemed acceptable if the possible gains exceed the
possible losses.

 Risk is defined as “an uncertain event or a set of circumstances


that, should they occur, will have an effect on the achievement of
one or project objective.

5
Introduction to Risk Management

• Risk management one of important issues facing


organisations today
• Change, customer demand & globalisation put
RM high on agenda
• Necessary to have RM strategy
• Have a process of identifying major business risk
• Organisations which do not fully understand and
manage risk likely to decline – acquisitions, debts

6
Introduction to Risk Management

What is Risk Management?


• APM defines project risk management as a structured process
that allows risk events and overall project risk to be to be
understood and managed proactively, optimising project success
by minimising threats and maximising opportunities
• PMBOK, USA defines risk management as the process
concerned with the identification, analysing and responding to
uncertainty. It includes maximising the results of positive events
and minimising the consequences of adverse events ability
• Process of managing risk in a project
• Aim of RM is to identify risk, undertake an objective analysis of
risk and respond to risk in an appropriate and effective manner
• RM should be used throughout the business or project lifecycle
• All levels need to be included in RM i.e. Corporate (policy setting),
strategic business (line of business) and project level.

7
THE COPPERBELT UNIVERSITY
School of Business-Department of Production Management

Importance of Risk Management


• Identify key business risk in timely manner
• Consider of likehood & consequence of impact on business
• Improve planning of project or business
• Establish priorities
• Prepared responses (alternative plans)
• Estimates can be made with Confidence
• Risk reduction? (Info, tests, resource)
• Provision of appropriate Contingencies
• Clearer definition of specific risks
• Project or business issues are clarified
• Build-up statistical profile for future modelling 8

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