Lifelong Learning for a Brighter World

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 condensed 8-week courses available

RSK 714 - Risk Assessment & Treatment C01

Academic Credit Value:
3 units
Course Delivery Mode:
In-Person
Hours of Study:
39 hours
Course Prerequisite(s):
Courses are to be taken in order (RSK 713, 714, 715)
Course Anti-requisite(s):
n/a
Instructor Name:
Dragica Grbavac
Course Dates:
01/13/2020 - 04/13/2020



Required Course Materials:
ARM 55 Risk Assessment and Treatment (text) ARM 55 Risk Assessment and Treatment (course guide) 2nd Editions, American Institute for CPCU
Optional Course Materials:
Course Description:
This course provides learners with a broad understanding of the assessment and treatment techniques for the major categories of risk faced by all organizations, with an emphasis on hazard (insurable risk).  This course takes a holistic approach to risk assessment and treatment reviewing areas of root cause analysis as well as risk treatment alternatives, including risk transfer and the benefits of accepting risk when pursuing an opportunity.   Some of the different types of loss exposures studied and assessed include Emerging Risks as well as Business Continuity Management, Property, Legal and Regulatory, Intellectual Property and Reputation Risk, Human Resources, Management Liability and Fleet Risk. Corporate governance and legal aspects are also studied to show the range of factors and considerations involved in controlling risk.

This is a Canadian Risk Management (CRM) accredited course and was formerly called "Risk Control."
Learning Outcomes:

Upon completion of this course, students will:

Summarize the definition of risk management and detail its role in the organization
Identify how risk managers design programs to address loss exposures and measure of performance in order to evaluate the overall success of the risk management program.
Explain the steps involved in Risk Assessment and Treatment
Describe and categorize the loss exposures that an organization faces.  Loss exposure categories include property, liability, personnel and net income.
Apply the quantitative tools needed to evaluate the importance or significance of an organization's loss exposures and predict their effect.

Course Evaluation
The final grade is calculated based on the following components:

                Quizzes                                 15%
                Case Study #1                    20%
                Mid-Term Exam                 40%
                Case Study #2                    20%
                Participation                          5%
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, required readings and experiential learning activities (i.e. case studies, group discussions, projects, etc.).

The textbook will form the primary teaching focus, but the style of teaching is interactive. The “educational objectives” listed at the beginning of each chapter will generally highlight the focus of study in each chapter.

Students are expected to complete the text readings in advance of each class to facilitate in-class discussions and personal understanding. Weekly homework will consist of answering questions assigned in the course guide.
Assignment Submission:
Course assignments are submitted in class on 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, no assignments will be accepted and a grade of zero (0) will be applied.  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 bythe 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 http://www.mcmaster.ca/academicintegrity/

The following illustrates only three forms of academic dishonesty:
Plagiarism, e.g. the submission of work that is not one’s own or for which other credit has been obtained.
Improper collaboration in-group work.
Copying or using unauthorized aids in tests and examinations.
Academic Accommodations:
Students with disabilities who require academic accommodations must contact the Student Accessibility Centre (SAS) to meet with an appropriate Disability Services Coordinator. To contact SAS, phone 905-525-9140 ext. 28652, or email sas@mcmaster.ca. For further information, consult McMaster University’s Policy for Academic Accommodation for Students with Disabilities.
On-line Elements:
In this course, we will be using on-line elements, which may include email, Avenue to Learn, WebEX, and external web sites.  Students should be aware that, when they access the electronic components of this course, private information such as first and last names, user names for the McMaster e-mail accounts, and program affiliation may become apparent to all other students in the same course. The available information is dependent on the technology used. Continuation in this course will be deemed consent to this disclosure. If you have any questions or concerns about such disclosure please discuss this with the course instructor. 
Turnitin.com:
Course Changes:
The instructor reserves the right to modify elements of the course and will notify students accordingly.
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 (https://www.mcmastercce.ca/cce-policies#Dropping). 
Grading Scale:

Grade

Equivalent Grade Point

Equivalent Percentages

A+

12

90-100

A

11

85-89

A-

10

80-84

B+

9

77-79

B

8

73-76

B-

7

70-72

C+

6

67-69

C

5

63-66

C-

4

60-62

D+

3

57-59

D

2

53-56

D-

1

50-52

F

0

0-49

Course Schedule:

Readings & Topics

Assessments

Chapter 1: Introduction to Risk Assessment & Treatment

 

Chapter 2: Root Cause Analysis

 

 

Chapter 3: Business Community Management

Quiz 1; Studies 1 and 2

Chapter 4: Physical Property Risk

 

 

Chapter 5: Intellectual Property and Reputation Risk

Quiz 2; Studies 3 and 4

Chapter 6: Legal and Regulatory Risk

 

Chapter 7: Management Liability and Human Resource Risk

Quiz 3; Studies 5 and 6

Mid-term Exam

 

Chapter 8: Environmental Risk

 

Case Study #1 Due

Chapter 9: Crime and Cyber Risk

 

 

Chapter 10: Fleet Risk

 

 

Chapter 11: Smart Products and Risk Management

Case Study #2 Due