MGT589 Managing Risk (8)
Enrolment Restriction: Only available to students enrolled in the Master of Project Management course. Not available to students who have completed MGT580 Forecasting and Risk Assessment.
This subject examines the identification, measurement, and management of risk using multi-disciplinary techniques. The role of the decision maker and the role of decision making heuristics and bias are studied together with key qualitative and quantitative techniques used to model, measure and treat risk. The subsequent treatment of risk through risk retention, self insurance or the transfer and avoidance of risk is also examined. The subject allows students to identify these concepts from the perspective of a risk manager, e.g. establish risks in relation to individuals, property and legal liability. Whenever possible, study examples will be based on the real-world problems encountered in the work environment of students. Assumed knowledge for this subject is equivalent to that covered in introductory subjects in management, economics and finance.