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Managing Risk in Organizations

  • MSc >
  • Managing Risk in Organizations

This course draws on insights from cognitive psychology, economics, statistics, and decision sciences to examine good and bad decision making and risk management practices. Frameworks and practices to improve decision making and risk management will be introduced. We will study the role of emotion, affect, and intuitive statistical thinking in risk decisions. We’ll look at how decisions and risk behaviours are shaped by mental models and organizational context. Decision making and risk management frameworks and approaches will be explored via case analysis, simulations, discussion, guest presentations, and a group project. Students will see the role of risk management practices in low-risk organizations such as universities, to high risk ones, like oil refineries.

Elective