BFF5902 Introduction to risk management
Faculty of Business and Economics
BFF5902 Introduction to risk management is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2026 in Semester 1 and Semester 2 at Caulfield. It has no prerequisites.
- Credit points
- 6
- Offered in 2026
- Semester 1, Semester 2
- Caulfield
- Assessment
- Exam 50%
- and 3 other tasks
- Workload
- 144 hours
- per semester
This is the 2026 handbook entry. See the 2027 entry.
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Overview
This unit is designed to introduce the concept of risk as a business philosophy and to introduce you to the Australian Risk Management Standard, AS/NZS/ISO31000:2009. It will look at the evolution of risk, the requirements for risk management, the risk management process and steps, and the application of risk management.
Offerings in 2026
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | Flexible |
| Second semester | Caulfield | Flexible |
Assessment
- Exercise10%
- Quiz / Test20%
- Written20%
- Examination50%
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Learning outcomes
When you finish this unit, you should be able to:
- 1
demonstrate an understanding of the scope, application and definition of risk
- 2
explain the risk management requirements needed of a business entity of the 21st century
- 3
compare and contrast the risk management process with existing approaches to governance, compliance and control
- 4
link the risk approach to effective business control, by reference to AS ISO 31000:2018
- 5
understand the steps and the logic of the sequence
- 6
demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by BFF5902.
Workload and teaching
- Seminars24 hours
- Tutorials12 hours
- Assessments-
- Teaching approachProblem-based learning
- Teaching approachActive learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Technology resources
There may be an additional cost associated with purchasing a physical and/or virtual calculator. Specific details will be provided in the Learning Management System by commencement of Orientation week.
Where it fits
BFF5902 is part of 1 area of study in the 2026 handbook.
Contacts
- Chief Examiners
- Dr Amanda Nguyen
Common questions
What are the prerequisites for BFF5902?
BFF5902 has no prerequisites.
When is BFF5902 offered?
In 2026, BFF5902 runs in Semester 1 and Semester 2 at Caulfield.
How much work is BFF5902?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does BFF5902 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 3 other tasks.
Which majors and minors include BFF5902?
BFF5902 is part of Financial and risk management.