| CODE | ISR5041 | |||||||||
| TITLE | Enterprise Risk Management for Real Estate | |||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | |||||||||
| MQF LEVEL | 7 | |||||||||
| ECTS CREDITS | 5 | |||||||||
| DEPARTMENT | Insurance and Risk Management | |||||||||
| DESCRIPTION | This study-unit will introduce students to threats and risks that may originate from an extensive array of sources, encompassing financial instability, legal responsibility, operational, errors in strategic management and response to accidents or natural calamities. It will cover the main blocks of risks to construction and property development portfolios and practical exposure which is the objective of a Risk Management Professional. This study-unit will determine Risk Management Frameworks, Strategies, Objectives, Standards, responsibilities, Policies and tools suited to the Real Estate market. Study-Unit Aims: The study-unit's aim is to familiarise students with risk management practices on professional practice. ERM has garnered increased interest and acceptance among businesses thus the objective of this study unit is to establish the rationale for the adoption of Enterprise Risk Management (ERM) in property management and investments. The study unit will present the systematic identification and Management of potential occurrences that pose adverse risks to the successful execution of strategic goals or opportunities for competitive advantage in Real Estate. - Introduce the theory and practice of risk management; - Introduce the concept of 鈥榚nterprise risk management鈥�; - Introduce the nature of risk and the aims of risk; - Introduce typical approaches to risk management policy and responsibilities, including the importance of culture and communication; - Introduce techniques for identification, evaluation and analysis of risks; - Introduce good governance and the link with business objectives; - Introduce methods for risk treatment, transfer, tolerance and termination; - Introduce audit, risk assurance and social responsibility. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Define the process of risk identification, assessment and evaluation within an organisation; - Communicate and report the nature, purpose and steps involved in risk control; - Identify and communicate financing techniques; the principles underpinning property investments; - Demonstrate knowledge on how the primary benefits of property valuations, trends and property values contribute to society. 2. Skills: By the end of the study-unit the student will be able to: - Pro-actively Identify, compile, analyse, evaluate and measure exposure to the following risks such as the following (Probable, Accidental, Extraordinary business losses faced by individuals and organisations, Emerging [for example cyber, social media and climate change risk], Reputation, Regulatory, Supply chain, Financial, Legal, Property, Personnel, Political, Environmental, Fraud). - Determine and suggest the range of risk control techniques, including prevention, protection and reduction techniques available; - Determine and develop loss prevention and protection strategies. Main Text/s and any supplementary readings: - Chapman, R. J. (2011) Simple Tools and Techniques for Enterprise Risk Management 2nd Edition. WILEY FINANCE. - Lam, J. (2017) Implementing Enterprise Risk Management: From Methods to Applications. Wiley Finance Book 319. |
|||||||||
| STUDY-UNIT TYPE | Lecture | |||||||||
| METHOD OF ASSESSMENT |
|
|||||||||
| LECTURER/S | ||||||||||
|
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. |
||||||||||