Risk Management in International Operations (5cr)

Objectives (course unit)

This course familiarizes the participants with Risk Management as the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events. Special emphasis is put on practical risk management tools and latest concepts.
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When the participant has passed this course he/she will know:
- Core terms and notions related to risks and risk management
- Different risk types and profiles in different business environments
- Risk management process phases
- Risk identification techniques
- Risk assessment tools
- Risk management linkage to other management disciplines
- Trends in academic risk management research
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After completing the course participants can:
- Identify risks in projects and on the company level by using appropriate techniques
- Analyse risks and their consequences with effective tools
- Apply risk management effectively in projectsto save time and money
- Avoid the common pitfalls of risk management implementation
When the participants have passed this course he/she will be:
- A project manager understanding the risk profile of her own project and what impact change has on them
- A specialist to define and analyze risks with effective tools and techniques
- A leader to manage risks and act fast if risks realize
- A leader making project members to understand the importance of risk management

Content (course unit)

Course is a combination of meetings and online exercises. The content is:
-Terminology of risks and risk management
-Risk types and risk profiles in international operations
-Risk management process and its implementation
-Implementation of risk management methods and tools
-Current "hot topics" in risk management research

Location and time

Online, autumn 2018

Exam schedules

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Assessment methods and criteria

Each module is evaluated separately. Both individual tasks and tasks in small groups are taken into account in evaluation.

Assessment scale

0-5

Teaching methods

Online course. Working in small teams and individually.

Learning materials

Anderson, Edward J.: Business Risk Management: Models and Analysis, Wiley 2013, ProQuest Ebook Central
&
Selected scientific research papers, available in Tabula.

Student workload

5 credits x 27 hours = 135 hours

Content scheduling

Module 1: Introduction to Risk management & Course practicalities
Module 2: Risk management strategies
Module 3: Risk management Process and tools
Module 4: Topical challenges in Risk management

Completion alternatives

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Practical training and working life cooperation

Theories, tools and practices are applied to the working life (e.g.students employer) during the course.

International connections

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Further information

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Assessment criteria - fail (0) (Not in use, Look at the Assessment criteria above)

Student is not able demonstrate basic knowledge in
-core terms and notions related to risks and risk management
-different risk types and risk profiles in different business environments
-risk management process phases
-risk identification techniques
-risk assessment tools
-risk management linkage to other management disciplines
-trends in academic risk management research
Student is not able to
-identify the risks in different levels using suitable techniques
-analyse the risks and their consequences with effective tools

Assessment criteria - satisfactory (1-2) (Not in use, Look at the Assessment criteria above)

Student has a fair knowledge in
-core terms and notions related to risks and risk management
-different risk types and risk profiles in different business environments
-risk management process phases
-risk identification techniques
-risk assessment tools
-risk management linkage to other management disciplines
-trends in academic risk management research
Student is able to simply
-identify the risks in different levels using suitable techniques
-analyse the risks and their consequences with effective tools

Assessment criteria - good (3-4) (Not in use, Look at the Assessment criteria above)

Student has good knowledge in
-core terms and notions related to risks and risk management
-different risk types and risk profiles in different business environments
-risk management process phases
-risk identification techniques
-risk assessment tools
-risk management linkage to other management disciplines
-trends in academic risk management research
Student is able to:
-identify the risks in different levels using suitable techniques
-analyse the risks and their consequences with effective tools
-apply risk management effectively saving time and money
-avoid common pitfalls of risk management implementation

Assessment criteria - excellent (5) (Not in use, Look at the Assessment criteria above)

Student has excellent knowledge in
-core terms and notions related to risks and risk management
-different risk types and risk profiles in different business environments
-risk management process phases
-risk identification techniques
-risk assessment tools
-risk management linkage to other management disciplines
-trends in academic risk management research
and the student is able to criticize the related theories
Student is able to smoothly
-identify the risks in different levels using suitable techniques
-analyse the risks and their consequences with effective tools
-apply risk management effectively saving time and money
-avoid common pitfalls of risk management implementation