Unit Outline BFA722 Risk Management Semester Two, 2009

Unit Outline BFA722 Risk Management Semester Two, 2009
Risk Management
Semester Two, 2009
Unit Outline
School of Accounting and Corporate Governance
Faculty of Business
Kerri O’Donnell
CRICOS Provider Code: 00586B
Contact Details
Unit Coordinator
Kerri O’Donnell
[email protected]
Postal Address
School of Accounting & Corporate Governance
University of Tasmania
Private Bag 86
Hobart, TAS 7001
Consultation Hours
Any time via MyLO email, with 24 hour turnaround during business hours (Mon-Fri 9.00am5.00pm)
The University of Tasmania 2009
Unit Description .................................................................................... 3
Learning Outcomes ............................................................................... 3
Learning Resources Required ............................................................... 4
MyLO .................................................................................................... 6
Details of Teaching Arrangements ........................................................ 8
Learning Expectations and Strategies ................................................... 9
Assessment .......................................................................................... 11
How Your Final Result is Determined................................................ 16
Penalties............................................................................................... 16
Requests for Extensions ...................................................................... 17
SETL ................................................................................................... 18
Academic Referencing ........................................................................ 18
Further Information and Assistance .................................................... 21
Unit Schedule ...................................................................................... 22
Unit Description
This Unit will take you on a risk journey. We begin by exploring the building blocks
of a risk model, which we will later refer to as Enterprise Risk Management. It is our
intention to apply the Australia/New Zealand Risk Management Standard to our work.
The Introductory Module places important risk concepts in the spotlight. Modules 15 ask questions such as: How is risk identified; how do different individuals perceive
risk; how is risk measured; how is the relative importance of different risks assessed;
and what are the dimensions of risk? The emphasis is on the importance of managing
risk. Module 5.5 brings the first five modules together in an Enterprise Risk
Framework. That is, a holistic and integrated approach to the management of risk
within the firm.
The ensuing Modules consider specific areas of risk – financial/political,
social/environmental, human resource/people issues, and web/internet/technology.
The final Module provides an overview of the Unit and looks toward the future of
risk, and the issues that firms may need to deal with.
The underlying tenet of the Unit is a focus on the importance of developing an
Enterprise Risk Management Framework, and seeking to continually monitor and
improve risk management in the light of the dynamic and changing world in which we
Learning Outcomes
On completion of this Unit, you should be able to:
Explain the concept and nature of risk as it applies to organisations and their
activities (links to the knowledge and communication skills graduate attributes).
Identify risk as a local, national and global phenomena and comment on the
changing risk environment within which organisations operate (links to the
knowledge graduate attribute).
Explain how risk influences decision-making (links to the knowledge and
communication skills graduate attributes).
Apply recognised processes of risk management to organisations and their
activities (links to the knowledge and problem solving skills graduate
Compare and contrast varying approaches to risk management (links to the
knowledge, problem-solving and social responsibility graduate attributes); and
Provide advice in relation to risk and risk management (links to the knowledge,
communication skills, and problem-solving and social responsibility graduate
Generic Graduate Attributes
The University has defined a set of generic graduate attributes that can be expected of
all graduates (see http://www.utas.edu.au/tl/orientation/generic-ga.html). By
undertaking this unit you should make progress in attaining the following attributes.
Knowledge: Explain the nature and concepts of risk and risk management. You
will learn to apply this knowledge using an enterprise risk management
Communication Skills: Write coherently on risk and risk management, and
present material on the web in a coherent and understandable format.
Problem Solving Skills: Interpret scenarios for organisations in risk management
terms, identify risk and risk management issues and use knowledge of risk and
risk management to justify an answer.
Social Responsibility: Acknowledge the social and ethical implications of risk
management decisions.
Learning Outcomes/Generic Graduate Attributes Matrix
Learning Outcomes
Assessment items
Learning Outcome 1
Learning Outcome 2
Learning Outcome 3
Learning Outcome 4
Learning Outcome 5
Learning Outcome 6
Problem Solving
Social Responsibility
Learning Resources Required
Required Reading
There is no prescribed textbook for this Unit. Course materials will be provided on the
Unit CDRom.
You are required to read AS/NZS 4360:2004 Risk Management and HB 436:2004 Risk
Management Guidelines: Companion to AS/NZS 4360:2004.
To access these documents:
• Access the Standards Australia database via the library's databases page at:
• Click the link to 'S' and scroll down to Standards Online Premium.
• Then do a search for '4360' and you should find both the handbook and the
standard at the top of the list. (Ignore all items that mention 'buy' or
• Click "view document", which will give you the choice of whether to view
online or save.
Saved documents will expire after a couple of days due to the licensing
agreement, so you may prefer to print them out.
You are also expected to research and to read additional material for the purpose of
completing assignments.
Recommended Reading
Fleet, W, Summers & Smith, B. (2006), Communication Skills Handbook for
Accounting, 2nd ed., John Wiley & Sons: Brisbane
Learning Resources
Extensive course materials will be provided to you through an interactive Unit CD
and MyLO. The materials are in Modular format. That is: The Introductory Module
and Modules 1-10. The course materials include PowerPoint presentations with audio
narrations, PowerPoint slides (in PDF and Text format), and readings taken from
books, journals, magazines, websites, reports and other sources. The readings are
included on the Unit CD (in PDF format), which will be forwarded to you by post
together with the Unit Outline.
Students are encouraged to read more widely to develop an understanding of the
Unit’s subject matter as well as a general understanding of business management,
operations processes and types of risk exposures affecting business decisions.
Independent reading to further your understanding and/or support your assessable
work could include material you find in books, journals, magazines, websites, reports
and other sources. You can also access journals via the E-journals web page
contained on the university library website, along with databases such as Science
Direct, Proquest and Emerald.
PDF Files
Many course materials made available on the Unit CD will be in Portable Document
Format (PDF). These files can be viewed by you from within your web browser or
separately by using a program called Adobe Acrobat Reader. This software is already
installed on the computers in the University but can be downloaded free of charge
from the Adobe site: http://www.adobe.com/prodindex/acrobat/readstep.html.
Other Publications
Information in relation the School of Accounting & Corporate Governance, the
Faculty of Business, the Faculty Guide for Students and Useful Links is available on
the Unit CD under “Contact and Study Information”. Read this information carefully.
Technical and Software Requirements
The Unit CD will run on University lab computers and on private computers with a
CDRom drive and Microsoft Windows software. If you have difficulties running your
CD or other campus and off-campus IT facilities, please contact the Service Desk on
6226 1818 or [email protected]
MyLO will be used to make up-to-date unit materials available to you and to give you
access to announcements and discussion groups.
MyLO is an internet service that has been adopted by the University and will be used
in this unit. MyLO may be accessed on computers in computing laboratories at the
University or on your computer at home or at work. Information about accessing and
using this service, required computer specifications, frequently asked questions, and
about how to get help if you experience difficulties, is available at the following
University website: http://www.utas.edu.au/coursesonline
You are strongly advised to visit this site and become familiar with the features of
MyLO, especially if you have not used it before. You will probably be using it in
other units that you are studying as well. Here are some important points about
accessing our web site.
You are reminded that when using MyLO, the Information Technology Facilities Use
Guidelines apply (http://www.utas.edu.au/itr/policies/), as per the Information
Technology Facilities Use Agreement you signed when you registered as a student.
Please ensure all electronic communications are courteous and constructive.
Access to MyLO
You can access your MyLO course from the Student Page on the University’s web
site: Current Students ËLOGIN [email protected] or go directly to the web address
noted above:
Enter your email POP account “Username” (for example, dsmith) and your
“Password”. These are identical to the pop account/email username and password
that you are given with your enrolment confirmation form. If you forget your pop
account username, contact the Help Desk (see below under ‘getting assistance
with MyLO). Both MyLO and e-mail passwords must remain the same. If you are
going to change your password, change your e-mail password first.
When you enter your user name and password, click on OK and choose
“BFA722” from the list of units (subjects) in which you are enrolled. Units will
not appear on your list until your enrolment is processed. [NOTE: Another box
may periodically appear when using the University network which asks you to
verify your user name & password, this is simply a security device – enter your
password when asked & click OK].
o MyLO will automatically check that your browser is properly configured.
If the MyLO ‘browser checker’ window appears – scroll down to make
sure you have a tick in each area shown – then close the window.
From the Unit’s homepage click on the area you wish to access e.g. “Unit
Information”. A table of contents will appear on your screen. Scroll through the
list until you find what you want to access.
Computer hardware & software
To access MyLO from your own computer you will need the appropriate software,
and hardware to run that software. See Learning Online at http://uconnect.utas.edu.au
for computer software you will need.
Note: Older computers may not have the hardware to run some of the required
software applications. Contact your local IT support person or the Service Desk on
6226 1818 if you experience difficulties.
For further information on using MyLO self help sheets can be accessed at:
If you have difficulty in gaining access to or using MyLO you can contact the Service
Desk Tel: (03) 62 26 1818 (1300 304 903 Freecall – Tasmanian Land Lines only) or
send an e-mail message detailing your problem to: [email protected]
MyLO Facilities Used for this Unit
Announcements – MyLO offers an Announcements facility, which the Unit
Coordinator will use to make announcements to you from time to time.
Announcements will be visible when you first open MyLO for this Unit (pop up).
Only the Unit Coordinator can post to the Announcements facility.
Discussions – This area is provided for on-line discussion between the Unit
Coordinator and you, and between you and other students. Discussion is arranged into
categories as follows:
Module Discussion - The Unit Coordinator has opened topics for each of the ten
Modules in which you can make postings in relation to your learning of module
content. These threads are for non-assessable discussions only. For example, you
may have questions to ask, or comments to make, that will help you develop your
understanding of course concepts, or may be of interest to other students. Please post
to the most relevant discussion thread to make it easier for everyone to find them.
The Unit Coordinator will participate in Module Discussions on a regular basis, and
will attempt to respond to queries within 24 hours.
Assessable Discussion - Assessable Discussions are a part of this Unit’s assessment
items (see later in this Outline). The Unit Coordinator has opened specific Assessable
Discussion threads for this purpose. Note that these particular threads must be used
for assessable discussions only. For more information, see the Assessable Discussion
Task description, below.
News and Events - You can use this discussion board to communicate about current
issues that are relevant to the unit.
Risk management issues of one type or another are frequently in the media. To make
this unit more interesting and useful, you should try to keep abreast of these
developments by reading newspapers and magazines. You should also watch current
affairs and business programs on TV and listen to such programs on the radio.
When you see something interesting, make a posting to let other students know about
Study Skills – This discussion board is provided as a forum for you to discuss issues
related to managing your learning.
Some information will be provided to start you off, such as a presentation on concept
mapping and a compilation of hints and tips for developing effective skills, including
links to a selection of UTas and external websites. As different techniques work for
different people, you are encouraged to post your own ideas to this thread, and to
respond to others’ questions.
Further information about effective study for this unit is included in the Learning
Expectations & Strategies section, below.
You may also post generic questions about assessment requirements to this thread.
Social Cafe – This discussion board is provided so that you can communicate with
other students with a view to getting to know everyone in the Unit. Please introduce
yourself at the beginning of semester, providing some information about yourself,
such as which degree you are studying toward, what you hope to do after graduation,
what your interest in risk is, and what you hope to gain from this Unit.
You should use the Social Cafe to create an on-line community with other students.
Mail – MyLO offers a Unit-specific email facility which the Unit Coordinator will use
to send emails to you from time to time. If you wish to communicate with the Unit
Coordinator privately, you can use this email facility.
MyLO email will not transmit extremely large file attachments, so if you have
difficulty submitting an assignment, you can email the Unit Coordinator at the address
given on page 1.
Students are encouraged to pose unit-related questions to the BFA722 discussion
boards, rather than by e-mail to teaching staff, as this allows everybody in the unit to
benefit from the discussion.
Details of Teaching Arrangements
The Unit CD provides details of ten Modules for you to study independently in this
Unit. For each Module there are narrated PowerPoint slides that introduce the key
concepts for that Module. There are also Readings for each of the Modules, and
questions posed for Assessable Discussion. There are also various non-assessable
activities. You will need to complete one Article Assignment and a Capstone
NO formal face-to-face classes or meetings are scheduled for this Unit. Your work is
flexible in that you are free to manage your weekly study timetable as you choose, but
submission deadlines apply to all assessment items, so you will need to plan your time
to meet the completion dates set out in the Unit Schedule on the last page of this Unit
In this flexible on-line unit, all interaction is online. You MUST maintain regular
contact. The Unit Coordinator will monitor MyLO closely, but you are responsible
for ensuring you participate and meet the requirements set out in this Unit Outline.
Learning Expectations and Strategies
All aspects of your work are expected to be of a high standard, both in academic
content and quality of presentation. You are required to comply with the requirements
of this Unit Outline and to meet the University and School expectations of students.
The School of Accounting & Corporate Governance is committed to high standards of
professional conduct in all activities, and holds its commitment and responsibilities to
its students as being of paramount importance. Likewise, it holds expectations about
the responsibilities that students have as they pursue their studies. The University’s
Code of Conduct for Teaching and Learning
http://www.utas.edu.au/policy/subject.html#teaching states:
Students are expected to participate actively and positively in the
teaching/learning environment. They must strive to maintain steady progress
within the subject or unit framework, comply with workload expectations, and
submit required work on time.
To undertake this flexible on-line unit you MUST strive to meet the expectations of
the School and the University as stated.
Studying and Learning Independently
For an introduction to Flexible Learning, and an overview of the skills required, visit
To get the most from this Unit, you should adopt the following approach:
• Track your progress through the Unit CD materials.
• Locate the Module you are up to on the Unit CD.
• Listen to the PowerPoint presentation(s).
• Read the readings provided.
• Reflect on the concepts and issues that have been encountered.
• Discuss issues raised in non-assessable discussion threads, as appropriate.
• Post your Assessable Discussions.
• Do any other activities that are provided for each Module.
The Unit is planned to enable you to work at your own pace. It is important, however,
to work consistently through the course materials. If there is any area of work that you
do not understand, you should immediately post a MyLO query, and make sure you
do not progress to the next module without a thorough understanding of the previous
one. Each part of the Unit develops themes from, and assumes an understanding of,
the previous modules, so it is important that areas not be skipped.
Encouraging you to study and learn independently is an important goal of university
study. It is a feature of a reflective approach to learning in which you reflect on what
it is you are learning and how you plan your learning strategy. It is not the aim of
flexible delivery that you feel you must work through problems alone. You are
encouraged to make good use of the MyLO facility, because the exchange of
information and ideas is a very important part of learning development. You will gain
most benefit by staying in close contact with other students and with the Unit
Please ask questions or contribute ideas, even if only partly formed, as these can often
form a basis for very constructive interaction. Remember that the MyLO discussions
(assessable and non-assessable) will be as interesting and useful as you make them.
You should do well in this Unit if you:
• develop an interest in risk management and relevant media reports;
• keep up-to-date with your coursework;
• consolidate your understanding by making appropriate short notes and
• give yourself plenty of time to complete your assignments and discussion
• prepare for and actively participate in assessable/non-assessable discussion (this
is especially important as a medium for students from many disciplines to share
their particular expertise); and
• take responsibility for your own learning.
Time Management
The Unit Schedule on the final page of this Unit Outline sets out a general programme
for studying the ten Modules covered in this Unit. You MUST allocate yourself
SUFFICIENT TIME to work your way through all of the Modules, participate in the
Assessable Discussion and, complete the assignments. It would be VERY unwise to
leave insufficient time so that you have to complete a large amount of work in a short
In particular, you will see in the Assessment section that you are not permitted to
request and undertake the Capstone Assignment UNTIL you submit your Article
For more information on managing your time and study, please refer to the Hints &
Tips information on the MyLO Study Skills discussion board, the University’s
Services & Support site: http://services.admin.utas.edu.au/index.asp and other
resources freely available on the internet.
Study Skills
If you are studying this Unit you must already have developed skills and strategies
that have helped you to achieve success in previous undergraduate units. However,
the subject matter of this Unit will probably be new to you.
In addition to practical problem solving and application of risk management practices
and principles, the Unit requires critical and abstract thinking and good
communication skills. You should develop the ability to use your knowledge of best
practice to address real life risk management issues that you hear about on TV and
radio or read about in the media.
It is highly recommended that you participate in the MyLO Study Skills discussion
Assessment Schedule
Assessment Task
Date Due
Assessable Discussions
1. Introduction: 24 July
30 %
2. 1a: 31 July
3. 1b: 31 July
4. 1c: 7 August
5. 1d: 7 August
6. 2a: 14 August
7. 2b: 14 August
8. 3a: 21 August
9. 3b: 21 August
10. 3c: 21 August
11. 4a: 28 August
12. 4b: 28 August
These dates are set one week after the
completion date for the Modules to
which they relate, consistent with the
scheduling of tutorials in Units with
face-to-face teaching arrangements.
Research Article Assignment
3.00PM Friday 25 September
Capstone Assignment
3.00PM Friday 30 October
NOTE: 3.00 PM is Australian Eastern Standard Time.
You are NOT permitted to request and receive your Capstone Assignment
question UNTIL you have submitted your Research Article Assignment.
Task 1: Assessable Discussions - 30%
There are twelve Assessable Discussions in this Unit. You must post your discussion
contributions to all twelve discussion boards by the due dates. Discussion question
details are provided on the Unit CD.
Do not attempt to post to Assessable Discussion boards without first completing
the relevant learning modules. The modules will prompt you to complete
assessable discussions at the appropriate stages.
Do not wait for your peers to post first, because you will not be able to see other
students’ work until you have posted your own.
An overview of discussion topics and pre-requisite tasks is:
Discussion Topic
Risk Management Intro
Relevant Module
Introduction Module
Module 1
Module 2
Module 3
Module 4
Module 5
Module 5.5
Task Length:
No set length. Discussions should be concise, but with views
supported by examples, and major assertions supported by
references and/or rigorous explanation.
Due Date:
You must post your Assessable Discussions by 3:00pm on the
dates set out in the Assessment Schedule. Discussion boards
will be automatically locked at 3:01pm on the due dates, and
late assessable posts will not be accepted. (See late penalties,
Assessment Criteria: Your participation in Assessable Discussion will be assessed in
accordance with the following criteria:
Clearly addresses all parts of the question
Reflects thorough preparation and reflection
Well substantiated and persuasive:
o Personal views are supported by examples
o Major assertions are supported by references and/or
rigorous explanation
Referencing technique*
Constructive contribution to discussion with peers* (New
ideas and/or analysis, as opposed to summary or restatement
of others’ work.)
* The same referencing rules apply to posts as to any other
assessable assignment. In addition, if you refer to the work of
your peers (e.g. to express agreement, disagreement or develop
the ideas further), you must reference their posts using the
following date variation on our standard format: WANG, Xiao,
18 July 3:16pm, Post 3 (1B).
Submission Rules:
All posts must be made to the correct discussion boards. Posts to
incorrect discussion boards will be deemed unsubmitted, and will
not be marked.
To simplify peer referencing and identification of thread replies,
first submission subject titles must show your name and the post
number in the following format: WANG, Xiao – Post 3 (1B).
When replying to a peer, do not change the RE: subject line.
Assessable Discussion post 2 (1A) only may be posted as an
attachment in Word or picture format. You may use software or
scan a hand drawing. In any case, the submission must be
viewable with standard Microsoft Office software and easily
printable without reformatting or resizing.
All other Assessable Discussions must be posted directly to the
discussion board; not as an attachment. Attachments to these
threads will not be marked. To avoid losing your work in case
MyLO access times out, you can compile your post using Word
and then copy and paste your work to the discussion box. To
preserve formatting, select the ‘Enable HTML Creator’ box
before pasting.
However, you may (and are encouraged to) attach supporting
documents, such as relevant articles or newspaper clippings, to
your Assessable and non-assessable discussion posts. Such
attachments will support your assertions and constructive
contribution to discussion development.
The Unit Coordinator will monitor the Assessable Discussion boards regularly, but
will not engage in assessable discussions except to:
Remove any postings that are determined to be harmful to others (e.g.,
determined to be insulting, disparaging, defamatory, etc) or deemed otherwise
unacceptable in view of the University’s Information Technology Facilities
Use Guidelines. Students whose post is removed must resubmit in a more
appropriate form, and may be subject to penalties as set out in the policy.
Post feedback directly to Assessable Discussion threads, as appropriate, to
correct misconceptions and errors and to redirect discussions toward more
successful achievement of learning objectives.
All students should use this feedback (regardless of which student’s thread it is
posted to) to improve grades for subsequent assessable tasks. This means that
you should read other students’ posts and stay up to date with discussion board
Alphanumeric grades (i.e. PP, DN, etc) will be released via the MyLO Grade Book
for Discussions 3, 4 and 5 to provide early personal quantified feedback on the risk
assessment skills that are particularly necessary for success in the unit. You should
also refer to the qualitative feedback posted to various discussion threads (including
other students’), and the assessment criteria (above), to identify means of improving
your grades in subsequent assessable tasks.
Your final mark for this task will be the sum of marks awarded to a selection of
discussions (predetermined by and known only to staff, but the same discussions for
all students). A total of 30 possible marks will be awarded. Therefore, if twelve
discussions are assessed, for example, each would be worth 2.5 marks, and if five are
assessed, each would be worth 6 marks. You should therefore aim to do your best in
all discussions. The overall numeric mark will be released as soon after the last
discussion deadline as possible, in the Unit Information section of MyLO.
Task 2: Research Article Assignment - 30%
Research is a very important part of the Risk Management process. The question
paper for this activity is provided on MyLO in the Assessment folder.
Task Length:
1,000 words
Assessment Criteria: Your work will be marked in accordance with the criterionreferenced marking sheet posted to the Assessment folder in
Due Date:
Clearly addresses the stated question requirements
Appropriate evidence of research
Referencing technique
Prepared and submitted in accordance with
requirements in the question and the Unit Outline
3.00PM Friday 25 September 2009
The Article, in Word format, must be uploaded to the
Assignment Submission box on the Unit’s MyLO Home Page
by the due date and time.
Article Assignments will be marked as quickly as possible after submission. Marks
and individual feedback will be provided to you via MyLO email.
Task 3: Capstone Assignment - 40%
This assignment will bring together the various aspects of risk management in an
assignment which will require you to demonstrate an understanding of the risk issues
discussed and the preparation of a risk management framework consistent with the
Australia and New Zealand Risk Standard.
The Capstone Assignment is an examination equivalent.
To be eligible to receive the Capstone Assignment question, you MUST submit the
Article Assignment.
When you believe you have met this eligibility requirement, you must email your
Unit Coordinator with a request to receive your Capstone question. The Unit
Coordinator will check that your progress records confirm eligibility and then your
question will be emailed to you via MyLO email.
Task Length:
3,000 words
Assessment Criteria: Your work will be marked according to the criterion referenced
marking sheet posted in the Assessment folder on MyLO.
Due Date:
3.00PM Friday 30 October 2009
The Capstone Assignment, in Word format, must be uploaded
to the Assignment Submission box on the Unit’s MyLO Home
Page by the due date and time.
As you will not be eligible to receive the Capstone question until you have completed
all other assessment tasks, you are strongly encouraged to plan and manage your time
very carefully. You should act upon time management advice given in this Unit
Outline as well as in your own and other sources.
You will be advised by the University of your overall results when final results for
Semester 1 units are formally released by the University to all students. You will not
be entitled to receive information in relation to your Capstone Assignment until that
date. As per the Faculty’s policy for reviewing examination papers, Capstone
marking and feedback will be provided only upon request.
Presentation and Submission of Assignments
Assignments are to be presented in accordance with the instructions in this Unit
Outline and the assignment question papers, and also with the Guide for Students
issued by the Faculty of Business (refer particularly to Appendix A). A web link is
provided on the Unit’s MyLO site under Unit Information (scroll to the bottom of the
web page). Note that signed cover sheets are not required for electronically submitted
assessment items (see below).
You must submit assignments, in Word format, to the Assignment Submission box
located within the Unit’s MyLO Home Page. Submission to your Turnitin checking
facility on your individual MyLO page does not equal receipt for the Unit’s
assessment purpose.
The Assignment Submission box will only accept one document submission per
assignment. This means that any title pages, appendices, etc. can not be submitted
separately, but must be incorporated into the main assignment document.
The Unit’s Assignment Submission box is facilitated by Turnitin software. By
clicking the link to submit your work to the Assignment Submission box, you are
deemed to agree that the work submitted is your own except where there is clear
acknowledgement or reference to the work of others. This electronic agreement
has the same effect as the signed Cover Sheet used for hardcopy assignment
submissions. Your attention is particularly drawn to the University’s rules on
Plagiarism (see page 19 of this Outline).
How Your Final Result is Determined
Assessable tasks are: Assessable Discussions, the Article Assignment and the
Capstone Assignment. The marks for each of the assessment tasks are added together
to determine your final result.
You must achieve an overall mark of at least 50% to pass the Unit.
Awards are made on the following basis:
80% or more
70 – 79%
60 – 69%
50 – 59%
< 50%
High Distinction (HD)
Distinction (DN)
Credit (CR)
Pass (PP)
Fail (NN)
The University’s Assessment Policy can be found at
Over-Length Work
Word counts are calculated automatically by the MyLO submission box software.
The word limits given are the maximum. If you believe you can communicate your
message as effectively using fewer words, you may do so.
Assignments will be marked only up to the maximum word count. Students should
take care not to exceed the word limits for the Article Assignment and Capstone
Assignment because it could mean that valuable marks for communication of
conclusions or recommendations are not awarded.
Word limits are particularly important for this Unit because communication of risk
management concepts must be particularly concise in order to:
a) Communicate essential information to busy executives and/or bureaucrats
who do not have time to read lengthy documents. They will want to decide
quickly whether the costs of adopting ideas in your work are in appropriate
balance with the potential benefits; and
b) Counter resistance from readers whose personal risk profiles are intolerant.
Some people do not want to know about risks, so your message must be
powerful enough to attract their attention whilst avoiding information
overload. The aim in this instance is to encourage the reader to be more
receptive to the concepts and process in future.
In either case above, if you take too long to make your point, the reader will stop
Title pages, in-text references, headings, tables, figures, reference lists and appendices
are not included in word counts.
Late Submission
Because this is a flexible unit, you are able to plan your weekly study schedule to suit
your needs. However, all assignments and Assessable Discussion postings must be
submitted prior to the stated deadlines. You should aim to avoid penalties that arise
due to technical glitches or slow uploads by submitting well before the due time.
Assessable Discussion boards will be locked at 3:01pm on the respective due dates.
Pre-existing posts will remain viewable, but no further posts will be accepted after
locking. Unposted Assessable Discussions will each be awarded 0 marks, which,
given the structure of the Assessable Discussion marking system (see above), could
significantly impact upon your overall result for this task. Therefore, please ensure
you make all posts on time.
Assignments will be deemed submitted at the time it is accepted by the MyLO
submission box facility. Electronic receipt is automatically date- and time-stamped.
This means that late submissions for this Unit will be penalised up until the exact date
and time of submission, regardless of whether the submission is made on a week day
or weekend.
If assignments are not submitted on or before the due times on the due dates, the
penalties for late submission are the deduction of 10% of the available mark for each
day, or part thereof, that the assignment is late. Note that the deadline time is 3pm
on the due date. Submissions on the due date, but after the due time, will be deemed
received one day late.
10. Requests for Extensions
Consistent with the Faculty’s policy on late submission, extensions of time will only
be granted on medical or compassionate grounds. Note that in this context, the term
‘compassionate grounds’ relates to bereavement or similar serious crises and not to
lecturer discretion generally. Extensions will not be granted because of work or other
Requests for an extension must be made to the unit coordinator in writing on the
School’s Application for Late Submission Form (available on MyLO and at
http://www.utas.edu.au/accg/studentres.htm), and must be approved by the Lecturer at
least three working days before the due date of the assignment. Original hard copy
evidence, such as Medical certificates, must be attached to support the application,
along with explanation that justifies the extension sought.
The only exception to pre-approved extension will be in cases of genuine unexpected
emergency (e.g. sickness preventing submission). In these instances, a written
statement explaining the circumstances, together with evidence, such as an original
hard-copy medical certificate, must accompany late submission.
11. SETL
SETL is the University’s Student Evaluation of Teaching and Learning program.
SETL is a system for feedback from students to academic teaching staff to help in the
formulation and development of unit organisation and teaching. This program serves
as the main systematic way for students to tell the University what they think of units
they study and the teaching they receive.
Your feedback is important, and constructive suggestions will be carefully considered
for possible integration in future semesters.
SETL questionnaires will be posted to you towards the end of Semester and you are
asked to complete and return them in the reply paid envelope provided.
SETL feedback is anonymous, and completed forms will only be made available to
your Unit Coordinator after final results are released.
For further information about SETL see the University
12. Academic Referencing
Referencing is a signal that the assertions you make are reliable. All your assessable
work must be appropriately referenced in the style described in the Faculty’s Guide
For Students: Appendix A. It is important that you understand how to correctly refer
to the work of others and maintain academic integrity.
Generally, if you are stating someone else’s ideas, or any facts, or opinions formed on
the basis of facts, even if they are common knowledge, it is very important to
reference because:
• It adds authoritative weight to your assertions, making them more reliable to
• It becomes a good habit which almost eliminates the risk of academic
misconduct accusations; and
• It is an extremely easy way to get higher marks. Also,
• In-text referencing and reference lists are not included when counting word
Referencing is extremely important for the risk management process to support that:
a) the facts are correct and/or the estimates are correct (enough); and
b) readers believe what they’re reading enough to cooperate. Otherwise risk
planning is a waste of time, money and effort, and people/business will remain
exposed to the risks. That, in turn, exposes businesses to potential liability.
Regulations and academic journal references, which are peer reviewed for scientific
integrity, are the most credible sources. However, the time frame for getting those
resources published can produce an information lag, so it may be appropriate to seek
additional information from other relevant sources.
When writing Assessable Discussions from your own subjective point of view, and
you share the views in another student’s post, you should say so – which is a form of
referencing (see the Assessable Discussion instructions, above).
How to reference properly
The appropriate referencing style for the Unit is explained, with examples, in
Appendix A of the Faculty’s Guide for Students. A web link is provided on the Unit’s
MyLO site under Unit Information (scroll to the bottom of the web page).
Also note that:
• If relevant, you may reference your own published/publicly accessible prior work;
• You may not submit or reference unpublished workplace material, even if you
wrote it;
• You may not submit or reference your own unpublished work previously
submitted to any educational institution;
• Direct quotes must constitute no more than 10% of any assessable item; and
• References are randomly checked for authenticity. Incomplete or untraceable
references will be deemed unauthentic.
A pre-submission reference checking facility has been provided on students’ MyLO
main pages. This is the Turnitin program, which highlights matches with electronic
sources so that you can review your referencing of external sources prior to formal
submission. Note that this pre-check version of software does not cross-match with
other students’ work, but the formal submission software does.
For further information on presentation of assignments, including referencing styles
see: http://www.utas.edu.au/library/assist/gpoa/gpoa.html
Failure to appropriately acknowledge the ideas of others constitutes academic
dishonesty (plagiarism), a matter considered by the University of Tasmania as a very
serious offence (see below).
Note that your Unit Coordinator will, consistent with the rules of the University,
refer assessable work showing evidence (content or form) of unauthorised
collaboration, copying or unacknowledged use of the ideas/data/work of others,
to the Head of School with a written allegation of academic misconduct. Please
ensure this is not necessary by assigning priority to understanding the rules of
referencing and academic integrity. If you are uncertain how to apply referencing
rules outlined in the Faculty’s Guide for Students, ask your lecturer, your
Postgraduate Academic Advisor, or Student Services staff.
Whilst you are encouraged to work together with other students and exchange
information in this Unit, the submitted assignments must be your own work:
…unless the assignment is clearly designated as a group assignment. Thus,
any collaboration or joint discussions must end when you actually begin to
write the assignment that you intend to submit as your own work ...
[Further,] ...never hand in an assignment which is the same as, or closely
similar to, another student’s assignment. When two or more substantially
similar assignments are received, the students concerned will be reported to
the proper authority and the University’s procedures for academic misconduct
will be implemented.
Guide for Students (Faculty of Business, 2006, p8).
The University has issued the following statement on plagiarism and academic
Plagiarism is a form of cheating. It is taking and using someone else's thoughts,
writings or inventions and representing them as your own; for example, using an
author's words without putting them in quotation marks and citing the source,
using an author's ideas without proper acknowledgment and citation, copying
another student's work.
If you have any doubts about how to refer to the work of others in your
assignments, please consult your lecturer or tutor for relevant referencing
guidelines, and the academic integrity resources on the web at
The intentional copying of someone else’s work as one’s own is a serious
offence punishable by penalties that may range from a fine or
deduction/cancellation of marks and, in the most serious of cases, to exclusion
from a unit, a course or the University. Details of penalties that can be imposed
are available in the Ordinance of Student Discipline – Part 3 Academic
Misconduct, see http://www.utas.edu.au/universitycouncil/legislation/
The University reserves the right to submit assignments to plagiarism
detection software, and might then retain a copy of the assignment on
its database for the purpose of future plagiarism checking.
UTas, 2008, University Statement on Plagiarism and Academic Integrity,
http://www.utas.edu.au/plagiarism/, 26/3/09.
For further information on this statement and general referencing guidelines, see
Useful resources on academic integrity, including what it is how to maintain it, are
also available at: http://www.utas.edu.au/plagiarism/
If you require further clarification you should contact the Postgraduate Academic
Advisor, Jan Counsell at [email protected] or your Unit Coordinator.
13. Further Information and Assistance
If you are experiencing difficulties with your studies or assignments, have personal or
life planning issues, disability or illness which may affect your course of study, you
are advised to raise these with your lecturer in the first instance.
There is a range of University-wide support services available to you including
Teaching & Learning, Student Services, and International Services. Please refer to
the Current Students homepage at: http://www.utas.edu.au/students/. Further
information about services and support for students that is provided by the University
may be obtained from the University website: http://services.admin.utas.edu.au/
The Faculty’s Postgraduate Student Academic Advisor, Janet Counsell (Room 320b,
62621939, [email protected]) can help postgraduate students understand
study requirements.
For administrative issues see your relevant Course Co-ordinator and/or the Faculty’s
Postgraduate Course Advisor, Dr Lucy Mills ([email protected]; phone 6226
Should you require assistance in accessing the Library visit their website for more
information at http://www.utas.edu.au/library/
School Ombudsperson
If you do not feel comfortable approaching your Unit Coordinator, or if you have a
discussion with your Unit Coordinator and are not satisfied with the outcome, then
you are encouraged to contact one of the Ombudspersons, who also teach in the
School of Accounting & Corporate Governance.
Mr Peter Collett
Room: 502, Faculty of Business
Building, Hobart
(+61 3) 6226 2192
email: [email protected]
Ms Sue Conway
Room D111
(+61 3) 6324 3068
email: [email protected]
Discussions with the ombudsperson will be kept in the strictest confidence. If you
wish to pursue the matter further, they will provide advice as to how this can be done.
The University also has formal policies, which can be accessed at:
There area a number of avenues available to students who have not been able to
resolve a concern to their satisfaction through informal means. You can obtain
information about these processes from:
Students with Disabilities - University and Faculty Equity Plans
Goal 1 of the University of Tasmania Equity Plan provides for: “An inclusive
teaching and learning environment that values diversity, supports the pursuit of
academic excellence and produces high quality education and employment results for
all students and staff”.
The University’s Equity Plan can be accessed at:
The Faculty of Business Equity Plan facilitates the University Plan at an operational
level and has developed an ‘Action Plan’. The Action Plan for Goal 1 lays down
procedures to ensure that all students, including those with disabilities, have equal
access to lecture and course materials. The School of Accounting & Corporate
Governance complies with these procedures.
14. Unit Schedule
The schedule on the following page sets out the Modules, topics and assessment items
that make up this Unit, and provides a structure for successful completion of the Unit.
Suggested completion dates for each Module are set out in the third column in regular
font. You may work ahead of this schedule, but should not get behind. The
assessment completion deadlines in bold font are compulsory. Note that the
submission time deadline is 3:00pm on the due dates.
The prescribed Module readings and Assessable Discussion tasks for each topic are
provided in the course materials on the Unit CD.
Completion Dates
Introduction to Risk and Corporate Governance Module
17 July 2009
Discussion task 1: Risk Management Introduction
24 July 2009
Module 1: Addressing Risk
Discussion task 2: Topic 1a
31 July 2009
Discussion task 3: Topic 1b
Module 2: Characterising Risk
Discussion task 4: Topic 1c
7 August 2009
Discussion task 5: Topic 1d
Module 3: Measuring Risk
Discussion task 6: Topic 2a
14 August 2009
Discussion task 7: Topic 2b
Module 4: Management of Risk
Discussion task 8: Topic 3a
21 August 2009
Discussion task 9: Topic 3b
Discussion task 10: Topic 3c
Module 5: Bringing it all Together –
Module 5.5: Using the ERM Framework
Discussion task 11: Topic 4a
28 August 2009
Discussion task 12: Topic 4b
Module 6: Financial and Political Risk*
Mid-semester Break
31 Aug – 4 Sept
Module 7: Risk in Using Technology*
11 September 2009
Module 8: Environmental and Social Risk*
18 September 2009
Research Article Assignment to be submitted by 3.00 PM
Module 9: Risk when Managing Human Resources*
25 September
Module 10: The future of Risk and its Management
2 October 2009
Capstone Assignment to be submitted by 3.00 PM
30 October 2009
* You may complete Modules 6, 7, 8 and 9 in a different order if you believe it will
help you plan for your Article Assignment more effectively. However, do not skip
any Modules, because they might contain information needed for your Capstone
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