Understanding Risk Management
Overview
This unit introduces students to understanding, evaluating and implementing effective risk management. Students will be equipped with knowledge and skills to make informed decisions relating to organisational risk. The unit involves students learning coordinated activities to enable them to recognise, manage, direct or control organisational risk. Students will learn about risk management which involves introduction and approaches to risk management, assessment, response, strategy, culture, governance, assurance and specific management of various risk situations. This unit of study also focusses on risks that may arise in the workplace and at enterprise level.
Requisites
09-February-2025
01-June-2025
05-October-2025
Learning outcomes
Students who successfully complete this unit will be able to:
- Demonstrate cognisance of different definitions and standards relating to risk management as well as their related organizational impact
- Explain and apply various approaches to risk management and identify appropriate alternatives;
- Develop and articulate a range of risk assessments, responses and strategies appropriate to different types of organisations
- Assess and evaluate risk culture within an organisation, and be able to recommend appropriate communication and training strategies associated with organisational risk
- Assess and evaluate risk in relation to compliance relating specifically to governance and assurance issues
Teaching methods
Hawthorn
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| On-campus Class | 2.00 | 12 weeks | 24 |
| Online Independent Learning | 1.00 | 12 weeks | 12 |
| Unspecified Activities Independent Learning | 9.50 | 12 weeks | 114 |
| TOTAL | 150 |
Swinburne Online
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| Online Directed Online Learning and Independent Learning | 12.50 | 12 weeks | 150 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| Assessment | Individual | 40 - 60% | 2,3,4,5 |
| Assignment | Individual | 30 - 40% | 1,2,3,4 |
| Test | Individual | 10 - 20% | 1,2,3 |
Content
- Introduction to risk management
- Approaches to risk management
- Risk assessment
- Risk response
- Risk culture
- Risk governance
- Risk assurance
- Risk management issues
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.