MBAD 6111 Contemporary Topics of Risk Management Organizations of all types and sizes face a range of risks that may affect the achievement of their objectives. These objectives may relate to a range of the organization?s activities, from strategic initiatives to its operations, processes, and projects, and are reflected in terms of societal, environmental, technological, safety and security outcomes, commercial, financial, and economic measures, as well as social, cultural, political and reputation impacts. The risk management process aids decision-making by taking into account the uncertainty and the possibility of future events or circumstances (intended or unintended) and their effects on agreed objectives. Students will be introduced to the concept of risk management and will learn to design and evaluate the features of a risk management framework, explain and analyze the concept of risk tolerance and understand how it affects decision-making, and identify and differentiate risk budgeting and its role in risk governance.