BUS5800

Risk management models for business

D R Mather

6 points - One 2-hour lecture and one 1-hour tutorial per week - Second semester - Clayton - Prohibitions: BUS3800

Objectives On completion of this subject students should have a clear understanding of the concepts of business risk management, be aware of typical applications of risk management in the current business environment, the use of current industry standard software and be able to design and develop a spreadsheet-based risk analysis model.

Synopsis Risk management techniques provide organisations with tools that have been developed to model and assess business risk. This subject gives students a practical introduction to spreadsheet based risk management modelling. The subject material will be presented through a series of real business case studies covering applications such as software project management. Computer methodology will be taught on Microsoft Excel using advanced modelling tools and the students will also be introduced to the most widely used risk management software in industry. Apart from fundamental concepts of risk management, students will be introduced to a framework for building spreadsheet based business models that makes it possible to carry out risk analysis effectively and efficiently. The risk analysis methods taught will include scenario analysis and simulation and will also cover recently developed techniques in simulation output analysis. Students will be given an opportunity to work on a series of case studies independently in a computer laboratory during tutorials.

Assessment: Examination (3 hours): 70% - Computer-based modelling assignment: 30% - Students must pass the examination in order to pass the subject.

Recommended texts

Bell D and Schlaifer A Jr Risk management Course Technology, 1995
Clauss F Applied management science and spreadsheet modelling ITP Duxbury, 1996
Hertz D B Practical risk analysis Wiley, 1984
Winston W Simulation using @risk ITP Duxbury, 1996

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