This course introduce essential analytical techniques to manage business management issues with focus on project risk management. The concepts and the theories of risks management are discussed together with management models and their adoption. The course will present the full life cycle of risk management including risks planning, identification, analysis (qualitative and quantitative), response strategies, monitor and control, and overall risk governance approach. Business cases and tailored exorcises are used for hands-on exercises to enhance students’ learning and experience.

Learning Outcomes

1. Define essential risk management concepts and the importance of risk management in modern businesses.
2. Recognize the benefits of adopting business analytics, frameworks, approaches, and tools in managing the full lifecycle of the business risks.
3. Apply appropriate risk management techniques to perform various stages of the risk management lifecycle.
4. Design comprehensive risk management plan consistent with the business specifics and objectives.
5. Shaw how balanced roles and responsibilities of different risk management team members improves the overall risk management approach.
6. Illustrate how the use and application of statistical tools can be used for effective management of risks.