Risk and Opportunity: Managing Risk for Development

Risks are a part of our everyday lives. Losses from risks and missed opportunities affect everyone. In the last two decades the world has experienced international integration, technological innovation, and economic reform, but also financial turbulence and environmental damage. The fear of loss can prevent people from pursuing development opportunities, leaving many poor people trapped in poverty. However, societies that successfully adapt to risks can make dramatic gains in their living standards. This course is based on the World Bank’s flagship report, the World Development Report 2014, Risk and Opportunity: Managing Risk for Development. In this course students can learn how risk management can be used to unlock development opportunities, and handle risks proactively. The course synthesizes, in an easily accessible and interactive way, the Report’s main messages and policy recommendations, along with additional up-to-date research and experience related to risk management in the developing world. It will guide participants through expert videos, a game, and several animations, to identify critical gaps in risk management and to move from being a “crisis fighter” to becoming a proactive and systematic risk manager.