ERM513: Risk and Risk Management

The Module “Risk and Risk Management”, ERM513, is designed to introduce students to the concept of risk from a global viewpoint, as well as to the fundamental principles of Risk Management.

The main objective of the module is to train students in:

- Implementation of the basic risk management procedure;
- Application of principles of Risk Perception;
- Taking human factors into account in Risk Management;
- Analyzing the Risk Communication process.

The Module focuses on presenting a global understanding of risk and Risk Management in all of its aspects. It starts with the fundamental aspects, parameters and metrics of risk. Α separate examination of risks related to human factors follows. The basic issues of the social aspect of Risk Management, namely Risk Communication, Risk Governance and Risk Culture are subsequently presented. Finally, the basic approaches and models of subjective perception of risk forming the “constructivist” approach to risk, are also examined.