Strategic Risk Analysis

Introduksjon

Organizations operate in environments characterized by uncertainty, complexity, and interdependent financial, operational, and strategic risks. For financial professionals and managers, the ability to systematically identify, analyze, evaluate, and manage such risks is essential to safeguarding organizational value and supporting sound decision-making. This course equips students with advanced competencies in risk management, with particular emphasis on how risk considerations interact with ethical responsibility, governance structures, and long-term sustainability.

The course develops a structured understanding of risk across operational activities, cash flow management, and capital investment decisions. Students are introduced to quantitative and qualitative risk assessment techniques, as well as to the design and evaluation of risk mitigation strategies, internal control systems, and decision-support processes. Attention is given to professional judgment, accountability, and transparency in risk-related decisions, recognizing that failures in risk management often stem not only from technical limitations but also from behavioral and organizational factors.

By situating risk management within a broader strategic and societal context, the course highlights how effective risk governance contributes to organizational resilience, responsible resource allocation, and sustainable value creation over time.

Kursets innhold

The course content draws on selected elements from the Chartered Institute of Management Accountants (CIMA) professional qualification syllabi, with an academic framing appropriate for a master’s degree. The course is structured in two main parts. The first part is informed by the CIMA P3 module on risk management, with particular emphasis on the relationship between risk management, corporate governance, assurance, and professional accountability. The second part is informed by the CIMA F3 module on financial strategy, focusing on the identification, assessment, and management of financial risks in strategic decision-making.

Throughout the course, risk management is examined not only as a technical discipline, but also as a governance and decision-making practice with ethical, behavioral, and sustainability implications. Students are encouraged to critically assess how risk management frameworks support organizational resilience, transparency, and long-term value creation.

Topics covered include:

• Concepts of risk, uncertainty, and enterprise risk management, including risk appetite and risk culture.
• The alignment between corporate strategy, strategic objectives, and risk management.
• Risk management from a corporate governance perspective, including accountability, oversight, and assurance mechanisms.
• The risk management process, including risk identification, assessment, evaluation, and prioritization.
• Internal control systems, control design, and the evaluation of control effectiveness and control risk.
• Ethical and behavioral dimensions of risk management, including incentives, judgment, and sources of ethical failure.
• Implications of risk for financial reporting quality, transparency, and reliability.
• Risk reporting and communication to internal and external stakeholders.
• Strategic financial and non-financial objectives, including the management of trade-offs between risk, return, and sustainability.
• Identification and measurement of exposure to financial risks, including currency risk, interest rate risk, and liquidity risk.
• Financial risk management instruments and techniques, including hedging strategies, and critical evaluation of their limitations and unintended consequences.

Forbehold

Dette er et utdrag fra den komplette kursbeskrivelsen for kurset. Dersom du er aktiv student på BI, kan du finne de komplette kursbeskrivelsene med informasjon om bl.a. læringsmål, læreprosess, pensum og eksamen på portal.bi.no. Vi tar forbehold om endringer i denne beskrivelsen.