| CODE | MGT5860 | |||||||||
| TITLE | Decision-making and Risk Analysis | |||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | |||||||||
| MQF LEVEL | 7 | |||||||||
| ECTS CREDITS | 5 | |||||||||
| DEPARTMENT | Management | |||||||||
| DESCRIPTION | The first part of the unit focuses on core decision-making in various types of decision making environments - decision making under uncertainty, decision making under risk and decision making under certainty) and on the importance and use of utility in decision theory. The second part of the unit focuses on financial risk management. The aspects covered include credit, market, operational, liquidity, legal, and reputational risk analyses. The unit covers user-friendly processes and tools to conduct decision analysis as well as risk assessments and risk alignments. The course also overviews the latest trends and next generation techniques emerging in financial risk management. Study-unit Aims This study-unit aims to help students understand the importance and use of decision theory and risk management assessments in business organizations. It attempts to provide insights into best practices and next generation techniques for students entering government, not-for-profit business, and IT positions in which risk management and decision analysis will play an ever expanding role. Learning Outcomes 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: -develop an analytic and systematic way to tackle problems related to decision making and risk management. -understand the application of decision theory and risk analysis techniques that transform decision making and risk management into a quantitative science. 2. Skills: By the end of the study-unit the student will be able to: -develop an analytic and systematic way to tackle problems related to decision making and risk management. -understand the application of decision theory and risk analysis techniques that transform decision making and risk management into a quantitative science. Main Text/s and any supplementary readings Main Texts: - Blunden, T. & Thirlwell., J. (2010) Mastering Operational Risk: A Practical Guide To Understanding Operational Risk And How To Manage It, Prentice-Hall. - Render, B. Stair, R.M. & Balakrishnan, N. (2006) Managerial Decision Modelling with Spreadsheets and Student CD Package (2e). Prentice-Hall. - Tarantino, A. & Cernauskas, D. (2010)Essentials of Risk Management in Finance (3e), John Wiley 7 Sons. Supplementary Readings: - Hubbard, D. W. (2009) The Failure of Risk Management: Why it's Broken and How to Fix it, John Wiley & Sons. - Render, B., Stair, R.M. & Hanna, M.E. (2011) Quantitative Analysis for Management (11e). Pearson Education International. |
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| ADDITIONAL NOTES | Co-Requisite Study-units: MGT5850 Service Excellence | |||||||||
| STUDY-UNIT TYPE | Lecture | |||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Frank H. Bezzina Sandra Buttigieg Andre Farrugia Edward Firman Simon Grima Markus Schuetz Sharon Seychell |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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