Risk Managment and Security


(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





Responsible teacher

Graça Canto Moniz


Weekly - 3

Total - 36

Teaching language



Available soon


Roeser, Sabine, Hillerbrand, Rafaela, Sandin, Per, Peterson, Martin (eds.), Handbook of Risk TheorySpringer, 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