Risk Management

Course Description

Risk identification. Risk classification. frequency of occurrence, consequence analysis. Risk analysis and methods for risk analysis. Probabilistic models and risk quantification as an input to risk management. Risk assessment and risk management. Risk modeling. Decision making. Societal values and acceptable risk. Insurance and risk management. Financial values used in decision making. Project planning and financing in case of uncertainty. Risk management without and with presence of risk perception. Integral risk management: scenarios and consequences. Risk assessment and risk management for new technologies. Risk management applied to global natural resources. Enterprise risk management.

Learning Outcomes

  1. To develop understanding of different business risk categories
  2. To be able to calculate risk exposure based on probability and impact
  3. To be able to identify and to describe company risks
  4. To be able to define risk matrix for a specific investment project
  5. To be able to calculate monetary value of the originally identified risks
  6. Learn to create a risk register and be able to analyze the acceptability of the contingency fund.
  7. Create risk management plan
  8. To assess feasibility of the invesment projects considering risks

Forms of Teaching

Lectures

Seminars and workshops

Independent assignments

Multimedia and the internet

Work with mentor

Week by Week Schedule

  1. Definitions and main concepts in risk managment
  2. Global risks, International standards in risk managment, Duality of risk managment
  3. Qualitative and quantitative techniques for risk assessment, Brainstorming techniques for risk assessment (Delphi, PESTLE, SWOT)
  4. Fault tree analysis (FTA) technique for risk assessment
  5. Seminar, The role of risk matrix and risk register
  6. Defining a risk breakdown structure (RBS), The role of priority lists in risk managment
  7. Seminar, Quantifiction of different impact and exposure values in risk register
  8. Midterm exam
  9. Defining a check list for performing quantitative risk analysis, Defining and creating a project timeline and budget
  10. Expected monetary value (EMV) of risk managment in projects
  11. Quantitative methods; probability distribution, Monte Carlo methods, Planning responses to risk occurance
  12. Seminar, Defining and clasifying responses (Avoid, Mitigate, Transfer, Accept)
  13. Expected monetary value (EMV) of risk managment in projects
  14. Decision making under uncertainty, Risk supervision and control
  15. Final exam

Study Programmes

University graduate
Control Systems and Robotics (profile)
Transversal Courses (2. semester)
Data Science (profile)
Transversal Courses (2. semester)
Electrical Power Engineering (profile)
Transversal Courses (2. semester)

Literature

(.), Danijela Miloš Sprčić: Upravljanje rizicima,
(.), Dale F. Cooper, Stephen Grey, Geoffrey Raymond, Phil Walker: Project Risk Management Guidelines: Managing Risk in Large Projects and Complex Procurements; 2004;John Wiley ,
(.), Predavanja dostupna na stranicama predmeta, zadatci, norme, izvještaji konzultantskih tvrtki (Ernst&Young) o procjeni globalnih rizika kroz godine,

For students

General

ID 210557
  Summer semester
2 ECTS
L3 English Level
L1 e-Learning
30 Lectures