Delivering Excellence in Lifelong Learning
risk management professional onsite writing down notes in a notepad risk management professional onsite writing down notes in a notepad

Risk Management

Planning to manage the unimaginable.

New 10-week courses now available due to popular demand from our students

RSK 713 - Risk Management Principles & Practices C21 (Online - Accelerated)

Academic Credit Value:
3 units
Course Delivery Mode:
Hours of Study:
39 hours
Course Prerequisite(s):
Courses are to be taken in order (RSK 713, 714, 715)
Course Anti-requisite(s):
Instructor Name:
Dragica Grbavac
Course Dates:
01/10/2022 - 03/20/2022

Required Course Materials:
CRM 54 Risk Management Principles and Practices Textbook and CRM 54 Course Guide, 3rd edition
Optional Course Materials:
Supplemental and optional course materials are provided by the instructor; Case Study provided at the start of course by the instructor.
Course Description:

This course starts with defining risk management and applying its concepts to the four major categories of risk:  hazard, operational, financial and strategic.  The evolution of the traditional risk management process to an enterprise wide perspective is discussed. The learnings of the Enterprise Risk Management (ERM) discipline are applied to a sufficiently complex case study. 

Various risk identification and analysis approaches are presented and discussed in detail, including risk identification, risk analysis and use of big data in modern ERM practices.

The global risk management standards and guidelines, including ISO 31000 (2018) and COSOII  are described.  Risk oversight, monitoring and controls are discussed and their application and relevance to an effective ERM program addressing the major categories of risk.

The course engages students in an on-line format using group Zoom learning sessions facilitated by the course instructor.

Learning Outcomes:

The primary learning objective of this course is to introduce the concepts of enterprise risk management, the practice of risk management and its importance to effectively manage uncertainties within an organization in order to achieve the organizational objectives while also focusing on reducing losses and creating value.  New areas of emphasis are introduced that have evolved in the past 3-5 years, such as pattern identification and gap management as part of the ERM process.

In this course you will:

·        Understand how an organization creates value and gains the benefits of risk management, while also benefitting the economy as a whole.

·        Learn the tools and techniques that will enable you to assess risks in order to effectively manage them and achieve your objectives.

·        Learn the distinct differences between risk management and problem solving.  Learn how pattern identification is the first step in taking ERM from an intuitive to an evidence based process.

·        Lean to apply practical guidelines and standards for risk management in addition to best practices.

·        Develop your ability to articulate what it is that must be managed to effectively manage risks either by prevention and/or reducing the impact to the organization.

·        Apply risk monitoring techniques that will support the organization to achieve compliance, value creation and loss prevention.

Course Evaluation

The final grade is calculated based on the following components:

Participation in Group Zoom Calls 10%                
Quiz #1: Chapters 1-5 10%                              
Quiz #2: Chapters 5-7 10%                                   
Quiz #3: Chapters 8-11 10%                                    
Assignment #1: Chapters 1-6 25%                         
Assignment #2: Chapters 7-11 35%                     

Course Format:

This course is designed to present the fundamental concepts and theories in risk management and promote the application to the workplace and professional practice. Course activities will include instructor presentations via Zoom, required readings, optional readings, discussion and experiential learning activities (i.e. case studies and group discussions).

This course emphasizes student participation in group discussions and live zoom sessions. It is expected that students will read the assigned chapters according to the weekly requirements. 

During Week 2, 4, 7 and 9 in the course, you will be required to participate in Group Zoom calls to discuss salient course materials that are designed to help you succeed with your assignments as well as those who will be continuing their studies to attain a professional designation in Risk Management.  Your grading will include your level of participation in these group calls.

Assignment Submission:
Course assignments are submitted to the appropriate A2L Assignment folder by the specified due date
Late Coursework:

Late assignments will be subject to a 2% per day late penalty (includes weekends and holidays) for up to seven (7) days. After this date, assignments will not be accepted and a grade of zero (0) will be applied, unless a special concession is provided at the discretion of the course instructor.

Any and all extensions for course work must be approved by the instructor before the due date (see Academic Regulations below), and will be granted for illness or emergencies only.

Students may be asked to submit supporting documentation for an extension request. 

Policy & Procedures:

Academic Regulations (Attendance, Coursework, Tests/Exams):

In accordance to McMaster University’s General Academic Regulations, “it is imperative that students make every effort to meet the originally scheduled course requirements and it is a student’s responsibility to write examinations as scheduled.” Therefore, all students are expected to attend and complete the specific course requirements (i.e. attendance, assignments, and tests/exams) listed in the course outline on or by the date specified. Students who need to arrange for coursework accommodation, as a result of medical, personal or family reasons, must contact the course instructor within 48 hours days of the originally scheduled due date. It is the student’s responsibility to contact the Program Manager to discuss accommodations and procedures related to deferred tests and/or examinations within 48 hours days of the originally scheduled test/exam, as per policy. Failure to contact the course instructor, in the case of missed coursework, or the Program Manager, in the case of a missed test/examination, within the specified 48-hour day window will result in a grade of zero (0) on the coursework/exam and no further consideration will be granted.

*Note: Supporting documentation will be required but will not ensure approval of accommodation(s).

Academic Integrity

You are expected to exhibit honesty and use ethical behaviour in all aspects of the learning process. Academic credentials you earn are rooted in principles of honesty and academic integrity. Academic dishonesty is to knowingly act or fail to act in a way that results or could result in unearned academic credit or advantage. This behaviour can result in serious consequences, e.g. the grade of zero on an assignment, loss of credit with a notation on the transcript (notation reads: “Grade of F assigned for academic dishonesty”), and/or suspension or expulsion from the university.

It is your responsibility to understand what constitutes academic dishonesty. For information on the various types of academic dishonesty please refer to the Academic Integrity Policy, located at

The following illustrates only three forms of academic dishonesty:

  1. Plagiarism, e.g. the submission of work that is not one’s own or for which other credit has been obtained.
  2. Improper collaboration in-group work.
  3. Copying or using unauthorized aids in tests and examinations.
Academic Accommodations:


Students with disabilities who require academic accommodation must contact Student Accessibility Services (SAS) at 905-525-9140 ext. 28652 or  to make arrangements with a Program Coordinator. For further information, consult McMaster University’s Academic Accommodation of Students with Disabilities policy.

Academic Accommodation for Religious, Indigenous or Spiritual Observances (RISO)

Students requiring academic accommodation based on religious, indigenous or spiritual observances should follow the procedures set out in the RISO policy. Students will need to contact their instructors as soon as possible to make alternative arrangements for classes, assignments, and other coursework. It is the student’s responsibility to contact McMaster Continuing Education to discuss accommodations related to examinations. (if applicable)

On-line Elements:

Conduct Expectations:

As a McMaster student, you have the right to experience, and the responsibility to demonstrate, respectful and dignified interactions within all of our living, learning and working communities. These expectations are described in the Code of Student Rights & Responsibilities (the “Code”). All students share the responsibility of maintaining a positive environment for the academic and personal growth of all McMaster community members, whether in-person or online.

It is essential that students be mindful of their interactions online, as the Code remains in effect in virtual learning environments. The Code applies to any interactions that adversely affect, disrupt, or interfere with reasonable participation in University activities. Student disruptions or behaviours that interfere with university functions on online platforms (e.g. use of Avenue 2 Learn, WebEx or Zoom for delivery), will be taken very seriously and will be investigated. Outcomes may include restriction or removal of the involved students’ access to these platforms.

Copyright and Recording:

Students are advised that lectures, demonstrations, performances, and any other course material provided by an instructor include copyright protected works. The Copyright Act and copyright law protect every original literary, dramatic, musical and artistic work, including lectures by University instructors.

The recording of lectures, tutorials, or other methods of instruction may occur during a course. Recording may be done by either the instructor for the purpose of authorized distribution, or by a student for the purpose of personal study. Students who wish to record sessions need to acquire permission from the instructor. Students should be aware that their voice and/or image may be recorded by others during the class. Please speak with the instructor if this is a concern for you.
Course Changes:

The instructor reserves the right to modify elements of the course and will notify students accordingly.

Extreme Circumstances:

The University reserves the right to change the dates and deadlines for any or all courses in extreme circumstances (e.g., severe weather, labour disruptions, etc.). Changes will be communicated through regular McMaster communication channels, such as McMaster Daily News, A2L and/or McMaster email.

Course Withdrawal Policy:

Policies related to dropping a course and course withdrawals are posted to the Centre for Continuing Education’s program webpage, FAQs & Policies (

Storm Closure Policy:
In the event of inclement weather, the Centre for Continuing Education will abide by the University’s Storm Closure Policy:, and will only close if the University is closed. All in-class courses, exams and room bookings by internal and external clients will be cancelled if the Centre for Continuing Education is closed. On-line courses will take place as scheduled.
Grading Scale:



Equivalent Grade Point

Equivalent Percentages








































Course Schedule:




Orientation week

Read: Chapters 1 & 2.

Familiarize yourself with the Case Study that will be used throughout the program.


Read: Chapters 3 & 4.

Orientation: Group Zoom Call


Respond to Quiz 1


Read: Chapter 5 & 6

Group Call on Zoom


Submit Assignment #1


Read: Chapter 7 & 8

Respond to Quiz 2

Start preparing for Assignment #2


Read: Chapter 9

Group Call on Zoom - Required


Read: Chapter 10.



Read: finish reading Chapter 11

Group Zoom Call

Respond to Quiz 3


Submit Assignment #2