Units
Operational Risk Management
Unit code: MGB341
Credit points: 12
Information about fees and unit costs
This unit aims to develop student competencies in analysing risk management issues in national and international contexts and build a strong appreciation of managing the organisational uncertainty in the current global environment. It introduces conceptual and practical applications of risk management techniques used in private and public organisations by combining lectures with practical 'hands-on' workshops. The unit examines: conceptual bases of risk management; international, national and sub-national regulatory frameworks; corporate risk management in international firms; business continuity planning; security risk management; emergency response planning; managing crises in organisations; participatory 'desktop' simulations of crisis decision making.
Availability
| Semester | Available |
|---|---|
| 2013 Semester 2 | Yes |
Sample subject outline - Semester 2 2012
Note: Subject outlines often change before the semester begins. Below is a sample outline.
Rationale
An understanding of risk management, in theory and practice, is essential for ensuring resilient and sustainable organisations. Effective risk management outcomes result from the analysis of uncertainties embedded in human knowledge, systems of management and processes in commerce, and from implementing mitigation strategies generated to address these factors. This unit seeks to introduce students to the application of Risk Management with respect to current national and international risk standards.
Aims
The aim of this unit is to develop an understanding of the conceptual bases and practical applications of risk management in a range of professional areas. The unit seeks to highlight the challenges in implementing risk management in international business settings and demonstrate the added uncertainties that emerge from the current global environment through the use of case studies and desktop situations. The unit also seeks to introduce students to a variety of experience and skills required in organisations when managing risk within differing business areas and societal settings.
Objectives
Course Learning Goals (Undergraduate)
The QUT Business School has established the Assurance of Learning (AOL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment:
Have knowledge and skills pertinent to a particular discipline (KS)
1.1 Integrate and apply disciplinary theory and skills to practical situations
1.2 Incorporate the use of technology appropriate to the discipline and context
Be critical thinkers and effective problem solvers (CTA)
2.1 Identify, research and critically analyse information relevant to a business problem or issue, be able to synthesise that information in order to evaluate potential solutions, make recommendations or otherwise effectively address the problem or issue
Be professional communicators in an intercultural context (PC)
3.1 Communicate effectively through written tasks appropriate to varied contexts and audiences
3.2 Communicate effectively through professional oral presentations appropriate to varied contexts and audiences
Be able to work effectively in a Team Environment (TW)
4.1 Demonstrate effective team skills in order to contribute appropriately to the production of a group output
Have a Social and Ethical Understanding (SEU)
5.1 Apply ethical reasoning, standards or codes of practice relevant to the discipline and make decisions that are informed by social and cultural understanding
Unit Objectives
On the successful completion of this unit, you should be able to:
- Describe and illustrate the concepts and frameworks used in risk management and their application in the public and private sectors both domestically and internationally.
- Investigate and report how uncertainty, vulnerability as well as social and systems complexity impact on our capacity to assess and manage risk.
- Analyse options for implementing risk mitigation strategies to a range of critical organisational case studies.
- Demonstrate skills in professional report writing.
The specific course learning goals and unit objectives that apply to this unit are shown in the assessment section of this unit outline.
Content
In this unit you will be introduced to:
- Managing Uncertainty in the Real World
- Concepts and theories central to Risk Management
- Emergency Management & Critical Infrastructure Protection
- Standards & Regulation in Risk Management
- Corporate Governance & Compliance
- Issues in Crisis Management and Business Continuity Management
- Security Risk Management in Business
- Crisis Decision-making Simulations and Futures Thinking
Approaches to Teaching and Learning
The teaching and learning strategies applied in this unit are intended to maximise your involvement and engagement with the concepts that are being presented and to provide opportunities for you to develop thinking and practical skills in a supportive environment. The unit is designed to promote and assess your understanding of the core concepts covered and not just your ability in rote learning and recitation. Weekly workshops provide a dynamic learning environment to promote a mixing of theory and critical and analytical applications to real world cases. Weekly workshops include a range of activities: such as guest speakers sharing their insights from industry, case studies, desktop simulations and assessment workshops.
Assessment
Students will receive feedback in various forms throughout the semester, which may include:
Assessment name:
Report
Description:
The purpose of the first assessment item is for students to demonstrate their understanding of the components required when undertaking a crisis simulation desktop exercise. This will be done through the preparation of a brief crisis response plan. Students are required to also reflect on the Crisis Desktop Exercise post exercise to consolidate their learning from the simulation.
Length / Duration: 1500 words
Formative or Summative: Formative and Summative
Relates to objectives:
Unit Objectives: 1, 2, 3, 4 and AoL goals: KS (1.1), CTA (2.1)
Weight:
30%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Week 8
Assessment name:
Critical Report
Description:
Standards Application Assignment. The purpose of the second assessment item is for students to gain an understanding of the challenges of applying a risk standard to a real world context. Students are required to apply the current international risk management standard (ISO31000) to an organisation, demonstrating how the standard would be implemented.
Length: 1500 words
Formative or Summative: Formative and Summative
Relates to objectives:
Unit Objectives: 1, 2, 3 & 4 and AoL goals: KS (1.1), CTA (2.1), PC (3.1), SEU (5.1)
Weight:
30%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Week 12
Assessment name:
Final Examination
Description:
A series of short answer and long answer questions will evaluate students' knowledge and critical thinking skills based on material covered in weekly workshops, readings and other handouts.
Length / Duration:2 hours with 10 minutes perusal
Formative or Summative: Summative
Relates to objectives:
Unit Objectives: 1, 2, 3 and AoL goals: KS (1.1), CTA (2.1), SEU (5.1)
Weight:
40%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Central Exam Period
Academic Honesty
QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.
A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.
Resource materials
Prescribed Text
None
Required References
Weekly readings will be provided via the CMD in support of lecture material.
Other Resources
- Additional references and online materials can also be found at the unit's Blackboard site: http://blackboard.qut.edu.au
Risk assessment statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.
Last modified: 04-Jul-2012
