Integrated Risk Management

Overview

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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Duration of course: 4 Semester

Organisational form: part-time

120ECTS

Language of instruction German

26Study places

Final degree: Master of Arts in Business (MA)

Application period for academic year 2022/23

12^th October 2021 to 30^th May 2022

tuition fee / semester:

€ 363,36¹

+ 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)

What you can offer

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.

What we offer you

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.

What makes this degree program special?

Unique education among the German speaking countries
Combination of business and management skills
Internationally recognized certificates: Risk, Process and Quality Manager, Certified Internal Auditor

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.

What you will learn in the degree program

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:

Students with a business background will attend courses in process and quality management
Students with process and quality management experience will attend courses in business studies - business planning

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.

Curriculum

1. Semester

Lecture	SWS	ECTS
Internal Control ILV Internal Control ILV Lector: Mag.a Ines Schubiger 1SWS 2ECTS Lecture contents 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 Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	1	2
Management Theory ILV Management Theory ILV Lector: FH-Prof. DI Dr. Martin Langer, Mag. Josef Ruh, PD Dr.Dr. Dipl.-Psych. Guido Strunk 1SWS 2ECTS Lecture contents Management (function, process, roles), currents in management theory, management as a strategic and operational planning system, management of complex systems Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	1	2
Organization Theory ILV Organization Theory ILV Lector: Natalie Brezer, DI (FH) Mag. Thomas Goiser, MBA MA CMC, FH-Prof. DI Dr. Martin Langer, Mag. Clemens Österreicher, Mag.a Dr.in Beatrice Preßl, Mag. Josef Ruh 2SWS 4ECTS Lecture contents 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 Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	2	4
Risk ILV Risk ILV Lector: FH-Prof. DI Dr. Martin Langer, Mag. Josef Ruh 2SWS 4ECTS Lecture contents 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 Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	2	4

Specialization Business Administration

Lecture	SWS	ECTS
Business Economics ILV Business Economics ILV Lector: Oliver Deltl, BSc, MA, Ing. Herbert Dvorak, MBA, LektorIn PlatzhalterIn 1, Mag. Erwin Vitovec, Mag.(FH) Johann Weber, MBA MPA MA 2SWS 4ECTS Lecture contents 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 Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	2	4
Practical Project Business Economics UE Practical Project Business Economics UE Lector: Mag.(FH) Johann Weber, MBA MPA MA 1SWS 2ECTS Lecture contents Application of the taught contents in business administration within the framework of a concrete project Assessment methods Final exam Practice project Teaching methods Practice project Language German	1	2
Practice Transfer Business Economics SE Practice Transfer Business Economics SE Lector: FH-Prof. DI Dr. Martin Langer 2SWS 8ECTS Lecture contents Reflection of the imparted contents in relation to practice Assessment methods Continuous assessment Reflection Paper Teaching methods Experiential learning / reflection Language German	2	8
Advanced Business Economics ILV Advanced Business Economics ILV Lector: Markus Ohler, BA, Mag.(FH) Johann Weber, MBA MPA MA 2SWS 4ECTS Lecture contents 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 Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	2	4

Specialization Project, Process and Quality Management

Lecture	SWS	ECTS
Practical Project Process and Quality Management UE Practical Project Process and Quality Management UE Lector: Ing. Herbert Dvorak, MBA 1SWS 2ECTS Lecture contents Application of the imparted contents in process and quality management within the framework of a concrete project Assessment methods Final exam Practice project Teaching methods Practice project Language German	1	2
Practice Transfer Process and Quality Management SE Practice Transfer Process and Quality Management SE Lector: FH-Prof. DI Dr. Martin Langer 2SWS 8ECTS Lecture contents Reflection of the imparted contents in relation to practice Assessment methods Continuous assessment Reflection Paper Teaching methods Experiential learning / reflection Language German	2	8
Process and Quality Management ILV Process and Quality Management ILV Lector: Ing. Herbert Dvorak, MBA, Mag.(FH) Johann Weber, MBA MPA MA 2SWS 4ECTS Lecture contents 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. Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	2	4
Advanced Process and Quality Management ILV Advanced Process and Quality Management ILV Lector: Ing. Herbert Dvorak, MBA, Mag. Josef Ruh 2SWS 4ECTS Lecture contents 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 Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	2	4

2. Semester

Lecture	SWS	ECTS
Complexity ILV Complexity ILV 1SWS 2ECTS Lecture contents 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. Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	1	2
Practical Project Risk Management UE Practical Project Risk Management UE 1SWS 2ECTS Lecture contents Application of the taught contents in risk management within the framework of a concrete project Assessment methods Final exam Practice project Teaching methods Practice project Language German	1	2
Practice Transfer Risk Management SE Practice Transfer Risk Management SE 2SWS 8ECTS Lecture contents Reflection of the imparted contents in relation to practice Assessment methods Continuous assessment Reflection Paper Teaching methods Experiential learning / reflection Language German	2	8
Risk Management ILV Risk Management ILV 3SWS 6ECTS Lecture contents 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 Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	3	6
Statistics and Probabiltiy Calculation ILV Statistics and Probabiltiy Calculation ILV 1SWS 2ECTS Lecture contents Probability distributions (expected value, variance, binomial distributions), inferential statistics (confidence intervals, VaR, statistical tests) Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	1	2
Advanced Complexity ILV Advanced Complexity ILV 1SWS 2ECTS Lecture contents 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. Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	1	2
Advanced Statistics and Probabiltiy Calculation ILV Advanced Statistics and Probabiltiy Calculation ILV 2SWS 4ECTS Lecture contents Calculating with probabilities (Laplace probabilities, tree diagrams, Bayes' theorem, probability and likelihood) Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	2	4
Advanced Risk Management ILV Advanced Risk Management ILV 2SWS 4ECTS Lecture contents 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 Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	2	4

3. Semester

Lecture	SWS	ECTS
Thesis Proposal SE Thesis Proposal SE 2SWS 8ECTS Lecture contents 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) Assessment methods Module exam Teaching methods Exposé Language German	2	8
Research Methods ILV Research Methods ILV 2SWS 2ECTS Lecture contents 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 Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	2	2
Internal Audit ILV Internal Audit ILV 2SWS 4ECTS Lecture contents Law/Business Administration/Organization/Professional Basics, Competencies of the Internal Auditor, Basics of the Audit Process, Quality Assurance in Internal Auditing Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	2	4
Practical Project Internal Audit UE Practical Project Internal Audit UE 1SWS 2ECTS Lecture contents Application of the taught contents in the internal audit in the context of a concrete project Assessment methods Final exam Practice project Teaching methods Practice project Language German	1	2
Practice Transfer Internal Audit SE Practice Transfer Internal Audit SE 2SWS 8ECTS Lecture contents Reflection of the imparted contents in relation to practice Assessment methods Continuous assessment Reflection Paper Teaching methods Experiential learning / reflection Language German	2	8
Advanced Internal Audit ILV Advanced Internal Audit ILV 2SWS 4ECTS Lecture contents 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 Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	2	4
Compliance ILV Compliance ILV 1SWS 2ECTS Lecture contents 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 Assessment methods Continuous assessment Group tasks Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	1	2
Controlling ILV Controlling ILV 1SWS 2ECTS Lecture contents Strategic controlling, cost and performance management, financial and investment management, integrated financial planning Assessment methods Continuous assessment Group tasks Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language German	1	2
Group Dynamics UE Group Dynamics UE 2SWS 2ECTS Lecture contents 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. Assessment methods Continuous assessment Group task Teaching methods Experiential learning in the group dynamic training group, tandem observation, feedback, working groups, lectures, self-study (e.g. reading, research) Language German	2	2
Vital Leadership UE Vital Leadership UE 2SWS 2ECTS Lecture contents Mindfulness, perception, self-awareness Assessment methods Continuous assessment Practicing mindfulness Teaching methods Experiential learning Language German	2	2

4. Semester

Lecture	SWS	ECTS
Business English ILV Business English ILV 2SWS 4ECTS Lecture contents Reading and writing, listening, speaking in English at level C1 Assessment methods Module exam Teaching methods Lectures, presentation, individual and group tasks, self-study (e.g. reading, research) Language English	2	4
Integrated Risk Management ILV Integrated Risk Management ILV 2SWS 4ECTS Lecture contents Current topics in the field of (risk) management and auditing, workshops, international days Assessment methods Module exam Teaching methods Lectures, presentation, group assignments, self-study (e.g. reading, research), experiential learning. Language German	2	4
Master Thesis MT Master Thesis MT 2SWS 20ECTS Lecture contents Writing a Master's thesis Assessment methods Final exam Master thesis Teaching methods - Language German	2	20
Master Exam AP Master Exam AP 0SWS 2ECTS Lecture contents - Assessment methods Final exam Master's examination Teaching methods - Language German	0	2

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 Instruction
German

Career opportunities

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.

Enterprise risk management
Internal revision
Risk-oriented controlling
Compliance
Internal control systems (ICS)
Process management

Process-oriented risk management
Quality management
Quality risk management
Strategic management
Business development
Security management

Admission

Admission requirements

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.

Application

To apply you will require the following documents:

Bachelor/diploma certificate or equivalent certificate from abroad
List of courses completed or transcript
Letter of motivation
CV in table form
Insurance data extract / any confirmations of professional activity

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.

Contact

> FH-Prof. DI Dr. Martin Langer

Head of Integrated Safety and Security, Head of Integrated Riskmanagement, Head of Risk Management and Corporate Security
T: +43 1 606 68 77-2151
martin.langer@fh-campuswien.ac.at

Secretary's office

Brigitta Hofmann
Favoritenstraße 226, B.3.11
1100 Vienna
P: +43 1 606 68 77-2175
F: +43 1 606 68 77-2159
risikomanagement@fh-campuswien.ac.at

Office hours
by appointment

Teaching staff and research staff

> FH-Prof.ⁱⁿ Mag.^a Claudia Körmer

Academic Staff

> Mag. Josef Ruh

Academic Staff, Deputy Head of Works Council

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Integrated Risk Management

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