Understanding Risk Management

SCM30002 12.5 Credit Points Hawthorn, Online Available to incoming Study Abroad and Exchange students


  • One Semester or equivalent

Contact hours

  • 36 Hours

On-campus unit delivery combines face-to-face and digital learning. For Online unit delivery, learning is conducted exclusively online.

2023 teaching periods


Higher Ed. Semester 1

27 Feb 23 - 28 May 23

4 Jul 23

Last self enrolment:
12 Mar 23

31 Mar 23

Last withdraw without fail:
14 Apr 23

More teaching periods
Swinburne Online

Teaching Period 2

10 Jul 23 - 8 Oct 23

31 Oct 23

Last self enrolment:
23 Jul 23

4 Aug 23

Last withdraw without fail:
25 Aug 23


175 Credit Points from a Bachelors Degree

Aims and objectives

Previous unit code: BUS30016 
This unit introduces students to understanding, evaluating and implementing effective risk management. Students will be equipped with knowledge and skills to make informed decisions relating to organisational risk. This Unit uses a structured approach and involves students learning coordinated activities to enable them to recognise, manage, direct or control organisational risk. In this unit students will learn about risk management which involves introduction and approaches to risk management, risk assessment, risk response, risk strategy, risk culture, risk governance, risk assurance and specific management of various risk situations. This unit of study also focusses on risks that may arise in the workplace and at enterprise level.
After successfully completing this unit, students will be able to:
1. Demonstrate cognisance of different definitions and standards relating to risk management as well as their related organisational
2. Explain and apply various approaches to risk management and identify appropriate alternatives
3. Develop and articulate a range of risk assessments, responses and strategies appropriate to different types of organisations
4. Assess and evaluate risk culture within an organisation, and be able to recommend appropriate communication and training strategies associated with organisational risk
5. Assess and evaluate risk in relation to compliance relating specifically to governance and assurance issues