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Lecturer(s)
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Homolka Lubor, Ing. Ph.D.
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Kolčavová Alena, Mgr. Ph.D.
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Course content
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Emphasis is placed on understanding the role of a risk manager, crisis communication, and, last but not least, the economic and substantive nature of crises. After completing this course, students should be able to appropriately describe selected financial (especially exchange rate) and non-financial (especially operational) risks, structure decision-making problems, and apply suitable tools for their analysis. Furthermore, the students will be capable of recognizing, evaluating, and managing risks based on the knowledge acquired. The course also demonstrates the methodology of scenario creation using modern approaches to analytical modeling. In the second part of the course, students delve into the actual issues of risk management. They are introduced to a variety of practical and widely applicable methods and tools to support multi-criteria decision-making. - Introduction to the study of risk. Historical development of risk management. - Modern risk management tools utilizing machine learning and data mining approaches. - Scenario analysis. Description of uncertainty using probabilistic models. Introduction to Monte Carlo simulations. - Tools for managing financial risks, especially exchange rate risk. - Quantification of risks and the creation of multi-criteria mathematical models. - Decision-making tasks in managerial practice and their classification. - Tools and methods to support managerial decision-making. - Risk reduction methods. - Crisis management. - Practical approaches to risk management.
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Learning activities and teaching methods
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Lecturing, Dialogic (Discussion, conversation, brainstorming), Exercises on PC
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| learning outcomes |
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| Knowledge |
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| Explain the importance of managing both hazard, controlled, and opportunistic risks |
| Explain the importance of managing both hazard, controlled, and opportunistic risks |
| Clarify the importance of risk management in an organization in the context of long-term sustainability |
| Clarify the importance of risk management in an organization in the context of long-term sustainability |
| Apply risk management methods such as bow-tie and FMEA |
| Apply risk management methods such as bow-tie and FMEA |
| Assess the level of uncertainty based on scenario analysis and potentially Monte Carlo methods |
| Assess the level of uncertainty based on scenario analysis and potentially Monte Carlo methods |
| Design measures for managing cyber risks (CIS controls) |
| Design measures for managing cyber risks (CIS controls) |
| Skills |
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| Utilizes managerial tools for risk management |
| Utilizes managerial tools for risk management |
| Calculates the level of uncertainty based on scenario analysis |
| Calculates the level of uncertainty based on scenario analysis |
| Proposes measures to mitigate risks about the organization's risk profile (risk map) |
| Proposes measures to mitigate risks about the organization's risk profile (risk map) |
| Evaluates the level of utilization of cyber risk tools at the current organization's level (CIS controls) |
| Evaluates the level of utilization of cyber risk tools at the current organization's level (CIS controls) |
| Develops solution alternatives based on identified causes and impacts |
| Develops solution alternatives based on identified causes and impacts |
| teaching methods |
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| Knowledge |
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| Lecturing |
| Exercises on PC |
| Exercises on PC |
| Lecturing |
| Dialogic (Discussion, conversation, brainstorming) |
| Dialogic (Discussion, conversation, brainstorming) |
| assessment methods |
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| Written examination |
| Analysis of seminar paper |
| Written examination |
| Analysis of seminar paper |
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Recommended literature
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BERANOVÁ, M. Manažerské rozhodování v riziku a nejistotě. Zlín : FAME UTB Zlín. ISBN 978-80-7318-513-8.
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ČASTORÁL, Zdeněk. Management rizik v současných podmínkách. Praha, 2017. ISBN 978-80-7452-132-4.
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DOSTÁL, P., RAIS, K., SOJKA, Z. Pokročilé metody manažerského rozhodování. Praha : Grada, 2005. ISBN 80-247-1338-1.
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FOTR, J., DĚDINA, J., HRŮZOVÁ, H. Manažerské rozhodování. Praha: Ekopress,, 2003. ISBN 80-86119-69-6.
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Hopkin, Paul. Fundamentals of Risk Management : Understanding, evaluation and improving effective risk management. 2010. ISBN 978-0-7494-6539-1.
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James, G., Witten., D., Hastie, T., Tibshirani, R. An introduction to statistical learning: with applications in R..
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LINDAUER, Roman. Modern risk management remarks. Prague: Oeconomica, nakladatelství VŠE, 2017. ISBN 978-80-245-2206-7.
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