RISK MANAGEMENT

NANING ARANTI WESSIANI

DEPARTMENT OF INDUSTRIAL ENGINEERING – ITS
BUSINESS PROCESS MAPING
MANAGE PROCESS

Set Direction Set Strategy Direct Business

SUPPORT PROCESS CORE PROCESS

IT Process Develop Get Order

HR Process
Product

Fin/Acc Maintenance Product

Fulfill Order
Process Process Support
 Overview of Strategic
Management

© 2005 PRENTICE HALL INC. ALL RIGHTS RESERVED.

Definition – Risk Management
 Identify risks specific to an organization and to respond to them in
an appropriate way (Merna et al, 2008)
 A formal process that enables the identification, assessment,
planning and management of risks (Monahan, )
 An integrated approach to the evaluation, control and monitoring
of hazard, control, and opportunity risk (Hopkin, 2010)
TRADITIONAL RISK MANAGEMENT

FR ITR
FR #1 ITR #1
#2 HRR #2
FR HRR #1 ITR
#3 #2 #3
HRR
#3
Financial Risk – Investment Information Technology Risk
Department – IT Department

Human Resource Risk – HR

Department

$$$
PROBLEMS
Berbasis pendekatan tradisional semacam ini, maka akibatnya
korporat tidak memiliki kemampuan didalam mengidentifikasi kunci
utama risiko secara konsisten, terpadu, dan kuantitatif.
ENTERPRISE RISK MANAGEMENT
Financial
Risk
Human
Resource Risk
Enterprise Risk
Management IT
Risk
Others
Risk
ERM
 Enterprise risk management (ERM) atau Manajemen Risiko Korporat
merupakan kemajuan signifikan di bidang manajemen risiko, dimana ERM ini
menyediakan proses bagi korporat untuk mengidentifikasi, mengukur,
mengelola, dan mengungkapkan semua risiko kunci untuk meningkatkan nilai
bagi para pemangku kepentingan.
 ERM menyediakan kerangka kerja yang lebih baik untuk dasar risk-return
pengambilan keputusan di tingkat tertinggi.
KEY COMPONENTS

MITIGASI
ANALISIS
PENILAIAN
IDENTIFIKASI
RISK LEVEL

(Merna, 2003)
Nature of Risk
1) Hazard risks : the types of risks that can only have negative outcomes. Ex :
fire, accidents
2) Control (residual) risks : the types of risks that have a large degree of
uncertainty associated with them. Ex : maintaining the car in good
mechanical order will reduce the chances of breakdown, but will not
eliminate them completely
3) Opportunity risk : there are risks that we take because we desire (and
probably expect) a positive return
The Impact of Risk
COURSE OBJECTIVES
Code Detail of Learning Outcomes
TP1 Students are able to understand the risk concept, types, and characteristics
TP2 Students are able to understand and use quantitative methods to identify and assess risk
TP3 Students are able to understand the type and characteristic of risk mitigation
TP4 Students are able to develop their critical and analytical thinking by conducting case
study analysis
COURSE OUTLINE
Week Topic
1 Introduction to Risk Management
2 Concept of Risk and Uncertainty and the Sources and Types of Risk
3 The Evolution of Risk Management and Risk Management Process – 1
4 The Evolution of Risk Management and Risk Management Process – 2
5 Risk Management Tools & Technique - 1: SOAR (1)
6 Risk Management Tools & Technique - 2: SOAR (2)
7 Risk Management Tools & Technique - 3: FMEA (1)
8 Risk Management Tools & Technique - 4: FMEA (2)
9 Mid Term Test
10 Risk Management Tools & Technique - 5: VAR
11 Risk Management Tools & Technique - 6: Monte Carlo Simulation
12 Risk Mitigation Concept and Types
13 Risk Management Modeling: Case Study 1
14 Risk Management Modeling: Case Study 2
15 Risk Management Modeling: Case Study 3
16 Final Test
REFERENCES
Dempster, M.A.H, 2002. Risk Management: Value At Risk and Beyond, 1st
Edition, Cambridge University Press.
McDermott, Robin E, Raymond J. Mikulak, and Michael E. Beauregard,
2009. The Basics of FMEA, 2nd Edition, Taylor & Francis Group.
Merna, Tony and Faisal Al-Thani, 2008. Corporate Risk Management, 2nd
Edition, John Wiley & Sons.
Monahan, Gregory, 2008. Enterprise Risk Management: A Methodology
for Achieving Strategic Objective, 1st Edition, John Wiley & Sons.
Olson, David L. and Desheng Wu, 2010. Enterprise Risk Management
Models, 1st Edition, Springer
GRADING
Weight Evaluated Learning Outcomes
No. Type of evaluation
(%) TP1 TP2 TP3 TP4
1 Case Study 1 15% √ √ √ √
2 Case Study 2 15% √ √ √ √
3 Case Study 3 15% √ √ √ √
4 Mid-Exam (EBTS) 25% √ √
5 Final Exam (EBAS) 30% √ √