Risk Assessment

The goal of the subject is to familiarize students with the problem of risk and uncertainty as essential components of future business systems. The current global economic crisis has shown that insufficient risk assessment in all areas of business led to unexpected problems. Since then, all companies, banks and enterprises attach utmost importance to risk assessment.

By mastering this subject, the student is qualified to respect the risk when making business decisions and to take it into consideration when managing a business system. In this way the student will become more sensitive to this factor when making business decisions. It is necessary to model specific positions or departments that will deal with risk and suggest to the management how to reduce or eliminate risk.

Basics of risk management; Process of risk management; Risk assessment (quantitative and qualitative); Risk treatment; Reaction to risk; Reporting on risk; Example of risk registers; Holders of risk; Risk management and governance: Enterprise risk management and corporate governance; Definitions of corporate governance; Risk and chance; The principle of efficiency; The audit plan; Various risk categories; Risk management activities; Projects and risk; What are the concrete challenges? Project paths; Problem of sustainability of growth and progress; Equality and opportunity for all; Benchmarking; Problem areas; The Boston matrix.

Lectures, discussions and analyses of typical cases. Students should use pre-exam papers to practically demonstrate how to identify risk and reduce it.

Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points)

Hancock, H. (2010). Risk Assessment – translation, seminar material. London: Cranfield School of Management; Hayues, R.; Shilder, A., Dassen, R.; Wallage, P. (2002). The principles of audit. Banja Luka: Association of Accountants and Auditors of Republic of Srpska; Đukić, Đ. (2007). Managing Risk and Capital in Banks. Belgrade: Belgrade Stock Exchange.