Risk Managment and Security
Objectives
(1) Introduce the concepts of "risk" and "risk management"
(2) Explain the various steps and principles of risk management according to international standards
(3) Discuss risk management challenges in different areas (physical security, information security, environmental security, food security, etc.)
General characterization
Code
34113
Credits
6
Responsible teacher
Graça Canto Moniz
Hours
Weekly - 3
Total - 36
Teaching language
English
Prerequisites
Available soon
Bibliography
Roeser, Sabine, Hillerbrand, Rafaela, Sandin, Per, Peterson, Martin (eds.), Handbook of Risk Theory, Springer, 2012
IRM, A Risk Practitioners Guide to ISO 31000:2018
Shefrin, Hersh, Behavioral Risk Management: Managing the psychology that drives decisions and influences operational risk, Palgrave, 2015
Teaching method
The first session and Part I of the program combine the explanation of the topics in the syllabus with a participatory model focused in the students through specific tools (such as polls, platforms such as Kahoot, and in-class discussions). Additionally and whenever appropriate, individual or group in-class exercises (e.g. techniques used to identify risks) are also planned. Regarding Part II of the program, case studies are discussed focusing on decisions on managing certain risks, and experts are invited to talk about risk management in different areas.
Evaluation method
40%: in-class participation
20%: midterm quizz
40%: final write-up
Subject matter
Introduction: we live in an uncertain world!
Part I: The fundamentals of risk management
The concept of “risk”
Types of risk
Short introduction to decision theory
The evolution of risk management and the role of standardization (ISO 31000)
The purpose and advantages of risk management
Practical applications of risk management
Principles of risk management
Stages of risk management
(i) Communication
(ii) Planning
(iii) Identification
(iv) Analyzing
(v) Evaluation
(vi) Treatment
(vii) Monitoring and review
(viii) Register and report
Governance and culture
Part II: Risk management and security
Risk management and cybersecurity
Risk management and data protection
Risk management and physical security
Risk management and food safety
Risk management and public security