Business Risk
- Credits: 6
- Ending: Examination
- Range: 2P + 2C
- Semester: winter
- Year: 2
- Faculty of Business Management
Teachers
Included in study programs
Teaching results
Knowledge:
• A comprehensive view of enterprise-wide risk management with an emphasis on risk management of investment projects by defining the nature and character of business risks, the risk management process, risk assessment methods and techniques and the specifics of investment decision-making with respect to risk.
Competence:
• effective use of essential information on company-wide risk management for the implementation and streamlining of risk management in the company,
• understand the nature and causes of risks in individual areas of the company's activities in order to identify risks from the perspective of enterprise-wide risk management,
• apply risk assessment methods and techniques in the risk management process in order to determine the significance of risks and their effective management,
• propose solutions and defend the recommended methods for the treatment of significant risks with the aim to increase the likelihood of achieving the objectives of the company.
Skill:
• interpret the specifics of business risks, critically evaluate the possibilities of selecting appropriate methods of risk identification and assessment,
• use scenario and decision-making trees in the risk analysis,
• perform risk analyzes through sensitivity analysis, scenario analysis, Monte Carlo simulation analysis, FMEA analysis,
• use tools to optimize investment decisions at risk.
Indicative content
Thematic scope of the lectures:
1. The nature and importance of risk in business.
2. Risk classification
3. Risk management I
4. Risk management II - standards
5. Risk management framework
6. Risk management process
7. Risk assessment – risk identification
8. Risk assessment – analysis and risk evaluation
9. Methods and techniques in the process of risk management
10. Methods and techniques in the process of risk management
11. Probability trees are risk and uncertainty decision making
12. Risk management of investment projects
13. Evaluation of investment projects through a realistic option
Thematic definition of exercises:
1. Determination of external and internal connections
2. Determining the goal and financial and economic parameters
3. Risk identification
4. Analysis of identified risks
5. Sensitivity analysis
6. Scenario analysis
7. Simulation analysis
8. Summary of knowledge and decision-making taking into account risk
9. Assignment of semester work
10. Elaboration of semester work I - founding budget
11. Elaboration of semester work II - sensitivity analysis
12. Presentation of semester work I
13. Presentation of semester work II
Support literature
Basic literature:
1. RYBÁROVÁ, Daniela - GRISÁKOVÁ, Nora. Podnikateľské riziko. Bratislava : Iura Edition, 2010. 179 s. ISBN 978-80-8078-377-8.
2. RYBÁROVÁ, Daniela a GRISÁKOVÁ, Nora. Podnikateľské riziko. Vybrané problémy a prípadové štúdie. Bratislava : Vydavateľstvo EKONÓM, 2015. 108 s. ISBN 978-80-225-4074-2.
3. ISO 31000:2018 Risk management - Guidance
4. IEC 31010:2009 Risk management - Risk assessment techniques
5. ISO Guide 73:2009 Risk Management - Glossary
Additional literature:
1. BRAGG, Stan M. Enterpise risk management: Practical applications. ACCOUNTING TOOLS, 2015. 182 s. ISBN 1938910583.
2. COOPER, Dale - BOSNICH, Pauline - GREY, Stephen - PURDY, Grant - RAYMOND, Geoffrey - WALKER, Phil - WOOD, Mike. Project risk management guidelines. Managing risk with ISO31000 and IEC 62498. Second edition. Hoboken : John Wiley & Sons, 2014. 432 s. ISBN 9781118820315.
3. DOLEŽAL, Jan - MÁCHAL, Pavel - LACKO, Branislav a kol. Projektový management podle IPMA. 2. aktualizované a doplnené vydání. Praha : Grada Publishing, 2012. 528 s. ISBN 9788024742755.
4. Hillson, David. The risk management Handbook: a practical guide to managinag the multiple dimensions of risk. London : Kogan Page, 2016. 336 s. ISBN 9780749478827.
5. HNILICA, Jiří - FOTR, Jiří. Aplikovaná analýza rizika ve finančním managementu a investičním rozhodování. Praha : Grada Publishing, 2014. 304 s. ISBN 9788024751047.
6. HOPKIN, Paul. Fundamentals of risk management. London : Kogan Page, 2018. 480 s. ISBN 0749483075.
7. CHAPELLE, Ariane. Operational risk management. Hoboken : John Wiley & Sons, 2018. 272 s. ISBN 9781119549048.
8. KORECKÝ, M. - TRKOVSKÝ, V. Management rizik projektů se zaměřením na projekty v průmyslových podnicích. Praha : Grada Publishing, 2011. 583 s. ISBN 9788024751047.
9. SMEJKAL, Vladimír - RAIS, Karel. Řízení rizik ve firmách a jiných organizacích. 3. rozšírené a aktualizované vydanie. Praha : Grada Publishing, 2010. 360 s. ISBN 9788024730516.
10. WOLKE, Thomas. Risk management. Wiesbaden : Oldenbourg, De Gruyter, 2017. 300 s. ISBN 3110440520.
Requirements to complete the course
30 % continuous essay, 70 % written exam
Student workload
156 h (participation in lectures 26 h, participation in seminars 26 h, preparation for seminars 13 h, elaboration of semester work 30 h, preparation for presentation of seminar work 9 h, preparation for exam 52 h)
Language whose command is required to complete the course
Slovak
Date of approval: 09.02.2023
Date of the latest change: 14.05.2022