Sustainably and effectively preparing an organization at all management levels for an uncertain future and aligning it accordingly is the essence of risk management. This requires risk management to be implemented across the entire enterprise in the operational and strategic structures as well as in the central key functions of the organization so that they can all be networked and controlled as a whole. The master's degree program provides the skills required for this task. As a graduate you will be able to develop and implement a comprehensive risk management system, fill key positions and support the management as a business partner in strategic decisions.
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Application period for academic year 2021/22
12th October 2020 to 17th May 2021
tuition fee / semester:
+ ÖH premium + contribution2
1 Tuition fees for students from third countries € 727,- per semester
2 for additional study expenses (currently up to € 83,- depending on degree program and year)
You stand out with your constructive, integrated thinking and solution-oriented approach. Your strengths include moreover a systematic approach to an uncertain future and the ability to think outside of the box. "Nothing is impossible" is more than just an empty phrase for you; it motivates you to proactively and analytically detect potential threats, hazards and risks even in a complex context, to analyze and to develop comprehensive strategies. The challenge of operationally and strategically anchoring risk management in a company excites you. You possess fundamental knowledge of business administration or process and quality management.
We offer you an academic education that is oriented towards the needs of the business sector following a didactic concept adapted for part-time study.
Over the years we have established a strong network of representatives from business, politics and special interest groups that we have expanded and strengthened through a strategic partnership with the Institute of Internal Auditors Austria (IIA Austria). Thus in our teaching and research we can draw on experts from the industry with international experience and conduct joint research projects in which we focus on further developing innovative management approaches. In addition, we also support partners from profit and non-profit organizations in an advisory capacity in their projects, for example in 2014 we helped the Province of Burgenland develop a security strategy. We are one of the first universities to implement the "Three Lines Model" in our education.
With this part-time degree program you will receive an education that is unique among the German-speaking countries and combines risk management with business management, process and quality management and internal audit expertise. Integrated risk management is an education that can be applied in a wide range of business sectors including profit and non-profit organizations, small and medium enterprises as well as large corporations, providing you with excellent career opportunities. In addition, you have the opportunity to acquire internationally recognized certificates. The innovative approach of the degree program follows “The Three Lines Model”, which sets new standards in risk management and serves as the basis for a functioning control and monitoring system for businesses.
Performance indicators are an essential tool in risk management. It requires both the development of financial and procedural indicators. To meet these requirements, different focuses are set in the first semester:
In the following semesters, you will learn various qualitative and quantitative analysis methods. Thus you will learn to identify potential hazards to analyze operational and strategic risk situations and to develop multidisciplinary approaches to a complex environment. Finally, you will learn to evaluate and improve the effectiveness of risk management, the controls and the management and monitoring processes from the perspective of the internal audit. You will acquire the basic authorization for the certificate as a certified internal auditor.
ICS frameworks and standards, differentiation of ICS from other management and control systems, COSO-ICS and its components, implementation of an ICS, ICS from an internal and external control perspective
Lectures, presentation, individual and group tasks, self-study (e.g. reading, research)
Management (function, process, roles), currents in management theory, management as a strategic and operational planning system, management of complex systems
Dimensions of the concept of organization, development lines of organizational theory, theories of organizational design, emergent processes in organizations, organizational change, methods of organizational analysis
Concept of risk in changing times, paradigms of contemporary risk practice, descriptive decision theory (problems of incomplete information processing, heuristics) and decision-theoretical criteria in dealing with risk
Overview of accounting, annual financial statements, double-entry bookkeeping, income and expenditure accounting, forms of business and companies, principles of proper accounting. Entrepreneurial opportunities and implementation, innovation and entrepreneurship, financing, legal basics
Application of the taught contents in business administration within the framework of a concrete project
Final exam Practice project
Reflection of the imparted contents in relation to practice
Continuous assessment Reflection Paper
Experiential learning / reflection
Key figures, comparability and presentation of key figures, outcome-related key figures, social security, tax law Strategy and business model, entrepreneurial marketing and market orientation, business planning
Application of the imparted contents in process and quality management within the framework of a concrete project
PM according to IPMA, methods for project start, methods for project coordination, methods for project marketing, methods for project controlling, methods for coping with a project crisis, methods for project closure, Process Lifecycle - Designing Processes: including a process in process map, developing processes (identification and delimitation / analysis of actual process / conception of target process / realization of improvement potentials), success factors of process management, accompanying changes: system, people, team, leadership, motivation, conflict, creativity methods, organizational cultures, resistance, change, organizational change, change management.
Standard ISO 9001:2015: Overview, Introduction, Chapters 4-5, Normative (Vision, Mission, Culture, Values, Mission Statement), Strategic (Strategy, Objectives), Operational (Processes, Projects, Measures, Strategy Map, BSC),Standard ISO 9001:2015: Chapters 6-8, Documentation Process Management,Standard ISO 9001:2015: Chapters 9-10, Models, Audit 9001, Assessment,Optimization QM Methods,Statistical Quality Management,Overview Integrated Management Systems, Corporate Policy IMS, Definition Management System, Communication, Transcultural Differences in Quality Culture
Application-oriented system-theoretical basics for the understanding of complex systems: General Systems Theory, Cybernetics, Autopoiesis, Theories of Nonlinear Dynamical Systems, Synergetics. Importance of the system theoretical basics for the understanding of the management of complex systems. Limits and possibilities of targeted influencing of complex systems. Recent complexity-scientific approaches to influencing self-organization processes in organizations. Management as stimulation or stabilisation of self-organisation processes.
Application of the taught contents in risk management within the framework of a concrete project
Development lines in risk management, 4-phase model of risk management (risk identification, risk analysis and aggregation, risk control, reporting and monitoring), principles of risk management according to ISO31000/ONR49000f., elements of the risk management system, risk policy and risk strategy, risk management and internal control system (framework, instruments, interfaces), organization and risk management
Probability distributions (expected value, variance, binomial distributions), inferential statistics (confidence intervals, VaR, statistical tests)
Application-oriented foundations of complexity research: theories of nonlinear dynamical systems, synergetics, chaos theory, fractal structures. Recognition of complexity as a provable gap of knowledge and an independent phenomenon area. Preconditions for the occurrence of complexity and the properties of complexity. Complexity as a limit to predictability, a source of innovation, and an early warning system for the occurrence of dramatic changes in systems. Practical content: Determine limits of predictability, synergetic navigation system for managing complex systems.
Calculating with probabilities (Laplace probabilities, tree diagrams, Bayes' theorem, probability and likelihood)
Establishment and optimization of a risk management system, business continuity management, crisis communication, systemic integration of risk management into the organization, risk-appropriate alignment of the overall organization, communication of the risk management process and system, international aspects of risk culture
Description of the planned research project - Elaboration of the object of research, problem and research question - Presentation of the completed literature research (cf. current state of research, theoretical foundations) - Presentation of the research design (data collection, processing and analysis)
Immersion into philosophy of science, immersion into empirical social research (cf. qualitative, quantitative, mixed methods), discussion and reflection of selected research methods (e.g. survey, content analysis), focus on data collection, processing and analysis
Law/Business Administration/Organization/Professional Basics, Competencies of the Internal Auditor, Basics of the Audit Process, Quality Assurance in Internal Auditing
Application of the taught contents in the internal audit in the context of a concrete project
Compliance, risk management; process and project management from the perspective of internal auditing; auditing of finance, accounting, IT; white-collar crime; whistleblowing/internal investigation; transcultural aspects of internal auditing, guest lectures on current issues in internal auditing
Building blocks of an efficient compliance organization (procedures and standards, top-level commitment, risk analysis, business partner compliance, communication and training measures, monitoring system for early detection of risk areas incl. whistleblowing), profile and tasks of the compliance officer, labor law aspects in compliance implementation
Continuous assessment Group tasks
Strategic controlling, cost and performance management, financial and investment management, integrated financial planning
Forming and shaping a training group, formation and changeability of individual roles and functions in groups, the emergence of norms and standards, the importance of influence and trust as structure-forming elements of social events, conflicts in groups, gender and social differentiation, the importance of feedback for individual and collective learning, the emergence and importance of authority and leadership in groups, phases of group development, reflective connection a practice transfer.
Continuous assessment Group task
Experiential learning in the group dynamic training group, tandem observation, feedback, working groups, lectures, self-study (e.g. reading, research)
Mindfulness, perception, self-awareness
Continuous assessment Practicing mindfulness
Reading and writing, listening, speaking in English at level C1
Current topics in the field of (risk) management and auditing, workshops, international days
Lectures, presentation, group assignments, self-study (e.g. reading, research), experiential learning.
Writing a Master's thesis
Final exam Master thesis
Final exam Master's examination
* subject to approval by the governing bodies
Times All-day weekend blocks every two weeks, usually Friday and Saturday, some Saturday and Sunday. Additional online formats during the week in the evening
1st semester: 1 attendance block Thursday to Sunday ; 10 two - three day attendance blocks Friday - Sunday (full day), in some cases Thursday and/or Monday, additionally online formats during the week in the evening
2nd and 3rd semester: 5 to 9 attendance blocks from Friday to Sunday (full day), occasionally Thursday and/or Monday, additionally online formats during the week in the evening
4th semester: Up to 5 attendance blocks from Friday to Sunday (full day), in some cases Thursday and/or Monday, additionally online formats during the week in the evening.
Exams may take place outside of these dates. For students who are not employed to the extent of at least 24 hours with a single employer, there are additional attendance blocks. Likewise, there are additional attendance blocks as part of the supervision for the master thesis or the practical project.
Language of InstructionGerman
The master's degree program prepares you for management and staff positions in international corporations as well as in small and medium enterprises. In these functions, you will consult the management strategically in the development of new business fields and the further development of the company. With your widely diversified education you have the advantage of being able to take on various management functions in companies such as risk management, controlling, compliance and auditing. In addition, you will be able to establish a comprehensive control system from the ground up, as well as all the required processes.
The basic requirement is a bachelor or graduate studies degree at a university with a total of 180 ECTS. Graduates of business administration degree programs and the bachelor’s degree program Integrated Security Management meet this prerequisite.
Graduates of other disciplines need proof of sound knowledge in the fields of process and quality management that they have acquired as part of a bachelor or graduate degree or from relevant institutions. You must possess sufficient knowledge of German and basic knowledge of English in order to be able to understand the lectures.
To apply you will require the following documents:
Please note It is not possible to save incomplete online applications. You must complete your application in one session. Your application will be valid as soon as you upload all of the required documents and certificates. In the event that some documents (e.g. references) are not available at the time you apply, you may submit these later via email, mail or in person by no later than the start of the degree program.
Head of Integrated Safety and Security, Head of Integrated Riskmanagement, Head of Risk Management and Corporate Security T: +43 1 606 68 email@example.com
Brigitta HofmannFavoritenstraße 226, B.3.11 1100 ViennaP: +43 1 606 68 77-2175 F: +43 1 606 68 77-2159 firstname.lastname@example.org
Office hoursby appointment
Academic Staff, Deputy Head of Works Council
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