Managing Budgets, Resources and Risk (MGMT90126)

Budget management requires an understanding of specific vocabulary, and the application of key foundational principles of finance, resources and risk in organisations. This subject will give students the skills and confidence to develop a financial budget, resource and risk management strategy in a variety of different situations. This subject will provide students with different conceptualisations of risk, from sociological understandings through to psychological theories. It will also introduce concepts of the ISO 31000 international standard on risk management that establishes a risk management framework that must be adhered to in a range of organisations. Topics covered will include budget and resource fundamentals, risk assessment, risk perception and communication, risk management and governance, and solving real risk and budget problems and issues. The subject makes extensive use of practical and case-based learning.