Politics and Risk

2 Credits.

This course will explain how public and private organizations incorporate various forms of risk into their strategic and operational plans. Risk is the probability that any particular situation, event, or action will influence an outcome. It is the product of probability and impact. Politics affects risk on many levels (e.g., international, national, regional, and local), and is the result of the interaction of many different elements. This course starts with an examination of basic issues with regard to risk analysis as well as why forecasts often fall short. It then turns to a specific discussion of country structural fragility, problems with collective action policymaking, and operational breakdowns. Although the course focuses more on the risks that face countries than on how particular risks might impact corporations or NGOs, the latter is also examined. The course concludes with an assessment of how to prioritize and mitigate risk.