The role of Human Resources (People) in Risk Management

Valentina Pirvulescu

Student thesis: Master thesis


The research aims to explain and describe how HR involvement in risk management results in positive outcomes for an organization. The paper follows a deductive structure by reviewing the current state of knowledge about the topic, selecting suitable theories and creating a model to be tested empirically. The theoretical approach revolves around the interconnectivity of the concepts of risk management, human resources management, decision-making processes and change management. The result of the analysis of specific theories is a model containing a risk management framework. The model is applied to check its validity and reliability in three different case studies. The first two cases contains qualitative analysis of secondary and tertiary data. The third case was built by gathering primary data through semis-structured interviews and participant observation. The data is analyzed using interpretative coding and the template application methods. The empirical results show that the model is valid, meaning that the fundamental assumptions on which it was developed are reliable as well. The answer to the research question is that the involvement of people in the organization creates a strong culture. The risk culture is the most valuable competitive advantage that makes the important difference between bankruptcy and maintaining a leadership position.

EducationsMSocSc in Service Management, (Graduate Programme) Final Thesis
Publication date2015
Number of pages84