After successful completion of the course, students are able to:

• understand the meaning of the broad risk management definition given by the Committee of Sponsoring Organizations of the Treadway Commission
• make adequate conceptual models for risk management systems (in form of management activity diagrams) and to apply the holistic modeling approach in different management domains
• investigate the scientific ERM literature by performing an in-depth literature review study
• do group working

• Enterprise Risk Management (ERM): COSO vs. ISO
• Integration of different risk types into different management systems
• Assessing the maturity of ERM: ERMMA-Project
• Implementation of ERM in practice
• Assessing the effectiveness of ERM
• ERM literature workshops: Students` presentations

Constructivist teaching methodology

• Final exam with calculation & case examples and multiple-choice questions
• Preparation for the lecture via reading assignments and homeworks
• Project work
• Case presentations and discussions in the lecture

• Institute of Management Accountants [IMA-ERM11]: Enterprise Risk Management: Frameworks, Elements, and Integration, http://www.imanet.org/PDFs/Public/Research/SMA/SMA_ERM2012.pdf

• Institute of Management Accountants [IMA-ERM07]: Enterprise Risk Management:: Tools and Techniques for effective Implementation, http://www.imanet.org/PDFs/Public/Research/SMA/SMA_ERM2012.pdf

• Institute of Internal Auditors [IIA13]: The three lines of defense in effective risk management and control, IIA position paper, January 2013, https://na.theiia.org/news/Pages/The-Three-Lines-of-Defense-in-Effective-Risk-Management-and-Control-Is-Your-Organization-Positioned-for-Success.aspx