Risk Management (T)

  • Class 30
  • Practice 0
  • Independent work 30
Total 60

Course title

Risk Management (T)

Lecture type


Course code






Lecturers and associates

Course objectives

Definitions and main concepts in risk management.
Global risks; International standards in risk management; Duality of risk management.
Qualitative and quantitative techniques for risk assessment; Brainstorming techniques for risk assessment (Delphi, PESTLE, SWOT).
Fault tree analysis (FTA) technique for risk assessment.
Seminar; The role of risk matrix and risk register.
Defining a risk breakdown structure (RBS); The role of priority lists in risk management.
Seminar; Quantification of different impact and exposure values in risk register.
Midterm exam.
Defining a check list for performing quantitative risk analysis; Defining and creating a project timeline and budget.
Expected monetary value (EMV) of risk management in projects.
Quantitative methods; probability distribution, Monte Carlo methods; Planning responses to risk occurance.
Seminar; Defining and classifying responses (Avoid, Mitigate, Transfer, Accept).
Expected monetary value (EMV) of risk management in projects.
Decision making under uncertainty; Risk supervision and control.
Final exam.

Required reading

(.), Danijela Miloš Sprčić: Upravljanje rizicima,
(.), Dale F. Cooper, Stephen Grey, Geoffrey Raymond, Phil Walker: Project Risk Management Guidelines: Managing Risk in Large Projects and Complex Procurements; 2004;John Wiley ,
(.), Predavanja dostupna na stranicama predmeta, zadatci, norme, izvještaji konzultantskih tvrtki (ErnstandYoung) o procjeni globalnih rizika kroz godine,

Minimal learning outcomes

  • To develop understanding of different business risk categories
  • To be able to calculate risk exposure based on probability and impact
  • To be able to identify and to describe company risks
  • To be able to define risk matrix for a specific investment project
  • To be able to calculate monetary value of the originally identified risks
  • Learn to create a risk register and be able to analyze the acceptability of the contingency fund
  • Create risk management plan
  • To assess feasibility of the invesment projects considering risks
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