This subject guide provides access to the Library's key resources relevant to the modules RSK2601: Enterprise & Risk Management
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What is Enterprise Risk Management?
ERM is a structured and systematic process that is interwoven with existing management responsibilities. It provides a framework based on analysing risks and opportunities, with an ultimate objective of creating value for the shareholders. ERM entails the alignment of an organisation’s strategy, processes, people, technology and knowledge to meet its risk management purpose; and offers a systematic and integrated way of identifying and responding to all sources of risk. ERM aims to provide a coherent framework to deal with all risks that result from operating in the ever-changing economic environment.
What is the overview and purpose of the RSK2601 module?
We all live with risk and uncertainty because, generally speaking, we simply do not know what the future holds. Through the ages, humankind has struggled to cope with and overcome risk and the consequences thereof. Indeed, one can argue that humanity's struggle to manage or cope with risk is one of the driving forces behind socio-economic and socio-political development. The learning content and activities contained in this module will therefore provide you with insight into the evolution of risk management into ERM.
This module deals with the management of risk as it is practiced by enterprises in the public, private and non-profit sectors. Historically, risk management has focused on avoiding the adverse consequences of risk. Today, however, risk management is about something quite different - the integrated and coordinated management of all types of risks and consequences thereof on an enterprise-wide basis. The purpose of this module is to explain risk management as an enterprise-wide concept and propose a framework for the implementation of ERM in an enterprise. The module will also provide a foundation for later courses and modules in risk management.