WIW32090 – Risk Management and Management Control

Module
Risk Management and Management Control
Risk Management and Management Control
Module number
WIW32090
Version: 1
Faculty
Business Administration
Level
Master
Duration
1 Semester
Semester
Winter semester
Module supervisor

Prof.Dr Bernd Zirkler
Bernd.Zirkler(at)fh-zwickau.de

Prof. Dr. Tom Schaal
tos18igv(at)fh-zwickau.de

Lecturer(s)

Prof. Dr. Tom Schaal
tos18igv(at)fh-zwickau.de
Lecturer in: "Risk Management and Management Control"

Prof.Dr Bernd Zirkler
Bernd.Zirkler(at)fh-zwickau.de
Lecturer in: "Risk Management and Management Control"

Course language(s)

English
in "Risk Management and Management Control"

ECTS credits

5.00 credits

Workload

150 hours

Courses

4.00 SCH (2.00 SCH Vorlesung | 2.00 SCH Seminar)

Self-study time

90.00 hours

Pre-examination(s)
None
Examination(s)

schriftliche Prüfungsleistung
Module examination | Examination time: 120 min | Weighting: 100% | wird in englischer Sprache abgenommen
in "Risk Management and Management Control"

Media type
No information
Instruction content/structure

Risk Management

  • Organization of risk and error management
  • Risk types, risk process, risk strategies
  • Instruments for identification and documentation of risks
  • Quantification and assessment of risks, rules for making decisions under risks
  • Strategic risk management

Management Control

  • Cost and performance controlling as overall operational controlling with a focus on activity-based costing and target costing
  • Planning and budgeting (integrated operational corporate planning)
  • Controlling with key figures (key figures and key figure systems with a special focus on causal relationships)
  • Value driven Controlling
  • Investment controlling as project controlling with reference to business start-up controlling
  • Financial Controlling
Qualification objectives

Risk Management

The students know the basics of risk management from a qualitative and quantitative perspective. They are familiar with risk types, the risk management process, various tools for controlling and calculating risks, and rules for making decisions under risk. The students also know the practical implementation possibilities through multiple case studies and learn to apply these methods.

Management Control

  • Acquisition of complex special knowledge for mastering the subject area of controlling in a company, in particular, will be the analysis competence, the planning and control competence and the conception competence further developed
  • Training of practical skills
  • Understanding and evaluation of controlling concepts, activities, instruments and systems
  • Development of the ability to evaluate and design company-specific controlling systems
  • Competencies for designing company-wide and division-related planning and controlling instruments (in particular based on key figures and key figure systems), interpreting information and for preparing it in a manner appropriate to the target group
  • Strengthening of control awareness in the sense of the preventive function and the corrective function

Social and Personal Skills

  • Strengthening of problem-solving skills as well as teamwork and conflict management skills based on the didactic teaching-learning concept (including working on at least two projects in alternating teams)
  • Strengthening of interdisciplinary thinking and indvidually connecting the knowledge towards Management Control Systems with the topic of Risk Management
Special admission requirements

none

Recommended prerequisites
No information
Continuation options
No information
Literature
  • Atkinson, Anthony A., Robert S. Kaplan, Ella Mae Matsumura, and S. Mark Young (2011): Management Accounting: Information for Decision Making and Strategy Execution, 6 Pearson Education, 2011
  • Borghesi, A., Gaudezi, B. (2013): Risk Management: How to Assess, Transfer and Communicate Critical Risks
  • Horngren, C.T. et al. (2013): Introduction to Management Accounting Global Ed., 16th edt., Pearson
  • Kaplan, R. S., and Steven R. Anderson, Time-Driven Activity-Based Costing: A Simpler and More Powerful Path to Higher Profits, Boston: Harvard Business School Press, 2007
  • Kaplan, Robert S., and D. P. Norton: The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment. Boston, MA: Harvard Business School Press, 2000
  • Merchant, K. & Van der Stede, W. (2017): Management Control Systems, 4th edt., Pearson
  • Pritchard, C. L. (2015): Risk management: concepts and guidance, 5th edt., Boca Raton CRC Press
  • Zirkler, B. (2018): Effectiveness Oriented Management Accounting – A German Perspective called Controlling, in Journal of the Kazakh-American Free University, edt. 2018
  • Carroll, R. (2011): Risk Management Handbook for Health Care Organizations Set, 3th edt., American Sciety for Heathcare Risk Management (ASHRM)
Notes
No information