Course Name: RISK MANAGEMENT IN MARITIME BUSINESS

Degree: Undergraduate

Code

Year/Semester

Local Credits

ECTS Credits

Course Implementation, Hours/Week

Course

Tutorial

Laboratory

DIY 412

(Fall)

3

5

3

Department

IIBF

Instructors

Dr. TANSEL ERKMEN

Contact Information

terkmen@pirireis.edu.tr

Office Hours

Wed. 1400-1600

Web page

www.pirireis.edu.tr

Course Type

 Compulsory

Course Language

English

Course Prerequisites

  -

Course Category by Content, %

Basic Sciences

Maritime Science

Maritime Transportation

Humanities

20

30

30

20

Course Description

This course introduces the principles and concepts of risk and risk management. The history of risk management is explored as a means of understanding the current drivers of enterprise risk management, and the development and impact of international standards. This leads to an examination of the ways in which risks are classified and the models or frameworks that are utilised to identify, assess and treat them.

Course Objectives

 Risk management involves understanding, analysing and addressing risk to make sure organisations achieve their objectives. So it must be proportionate to the complexity and type of organisation involved. Enterprise Risk Management (ERM) is an integrated and joined up approach to managing risk across an organisation and its extended networks. Because risk is inherent in everything we do, the type of roles undertaken by risk professionals are incredibly diverse. They include roles in insurance, business continuity, health and safety, corporate governance, engineering, planning and financial services.

Course Learning Outcomes

By the end of the module you should be able to:

1. Recognize the origins and key concepts relating to risk management.
2. Compare and contrast the main risk management standards.
3. Apply the concepts of enterprise risk management.
4. Examine the main approaches to risk identification.
5. Use the main approaches to the analysis and evaluation of risk.
6. Distinguish the main features of risk control techniques.

Instructional Methods and Techniques

Lecture, discussion and problem session

Tutorial Place

Class teaching

Co-term Condition

Textbook

Modern Maritime Law and Risk Management (Maritime and Transport Law Library) 2nd Edition by Aleka Mandaraka-Sheppard

Other References

Homework & Projects

Case Studies

Laboratory Work

Computer Use

Other Activities

Assessment Criteria

Activities

Quantity

Effects on Grading, %

Attendance

Midterm

1

30

Quiz

1

10

Homework

1

10

Term Paper/Project

Laboratory Work

Practices

Tutorial

Seminar

Presentation

Field Study

Final Exam

1

50

TOTAL

100%

Effects of Midterm on Grading, %

50%

Effects of Final on Grading, %

50%

TOTAL

100%

Week

Topics

Course Outcomes

Week 1, 2

Outline the history of risk management, including the various specialist areas and approaches

Consider the principles and aims of risk management and risk management’s importance to operations, projects and strategy

I

Week 3

• Principles of risk and risk management
• It provides an introduction to the principles and concepts of risk and risk management. It explores the history of risk management to help gain an understanding of current drivers of enterprise risk management, as well as the development and impact of international standards.

I-II

Week 4, 5

• Risk responses and risk treatment
• The concepts and definitions of risk and risk management
• Risk management standards
• Enterprise risk management
• Risk assessment, identification, analysis and evaluation

II-III

Week 6, 7

• Practice of risk management
• This module explores the impact of the global business environment on risk. It examines issues relevant to specific sectors and geographical areas, and the needs and demands of various stakeholder groups, including regulatory authorities.
• An overview of the global business and risk environment

II-III

Week 8

• Outline the key characteristics of the Maritime Risk Management framework Risk architecture, strategy and protocols
• Risk culture, appetite and tolerance
• Risk and organisations, including an introduction to corporate governance, project and operational risk management, and supply chain management

II,III

Week 9

MID TERM

Week 10

• Organisational risk management, emerging risks and future developments
• Analyse how risks impact on organisations, for example by way of the attachment of risks theory.

II,III,IV,V

Week 11

• Analysis of Strategies for client v. insurer Management of physical risk, contract risk
  Cost of risk, resources - drivers, strategic decision making, ERM

I,II-,II

Week 12

• Describe the key stages in the risk management process, the main components of a risk management framework and the key features of the best-known risk management standards and frameworks currently in use
•  

II,IV

Week 13

• Discuss the various approaches to establishing the context for ERM
• Discuss approaches to setting objectives

III,V,VI

Week 14

FINAL EXAM

Program Outcomes

Level of Contribution

1

2

3

a

Ability to analize the theoretical information in the area of maritime economics and management, and to assess their implications in implementation.

X

b

Ability to acquire distinctive information in the key aspects of the maritime business environment.

X

c

Ability to acquire knowledge by integrating information related to the field of maritime business and management  into computerized environments.

X

d

Ability to present obtained information by employing the technical skills required by the field of maritime business  and finance (such as in computerized environments) in Turkish or English.

X

e

Ability to employ knowledge related to the field of maritime business  and management  in decision-making, application, and the application of decisions.

X

f

Ability to produce multidisciplinary assessments and conduct analyses in harmony with the area of maritime business  and management  , related sub-fields, and other social science areas.

X

g

Ability to incorporate and accurately assess ethical and Professional responsibilities.

X

h

To be able to have leadership and management competencies that a manager and entrepreneur should have working at the international level.

X

i

To have a wide-range understanding for the incorporation of the effects of the field of maritime business  and management  in a global context.

X

j

Having acquired lifelong learning skills.

X

k

Having wide knowledge on contemporary topics.

X

l

To act in accordance with social, scientific, cultural and ethical values ​​and with the consciousness of social responsibility in various fields of international trade.

X

m

Having practical and theoretical technical knowledge for being able to obtain information and results  through data analysis.

X

Prepared by

TANSEL ERKMEN

Date

OCT. 2017

Signature