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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:
01/27/2020 - 03/22/2020

Required Course Materials:
CRM 54 Risk Management Principles & Practices Textbook, 3rd edition & CRM 54 Course Guide, 3rd edition
Optional Course Materials:
Course Description:
This course starts with defining risk management and applying its concepts to the four major categories of risk:  hazard (insurable), operational, financial and strategic.  The evolution of the traditional risk management process to an enterprise wide perspective is discussed.  Various risk identification and analysis tools are presented and discussed in detail including risk registers and risk mapping.  The global risk management standards and guidelines, including ISO 31000 and COSO are described.  Risk oversight, monitoring and controls are discussed in order to effectively manage the major categories of risk.
Learning Outcomes:

The primary learning objective of this course is to introduce the concept of risk management, the practice of risk management and its importance to effectively manage uncertainties within an organization in order to achieve the organizational goals.

In this course you will:

  • Understand the benefits of risk management to an organization and the economy as a whole
  • Learn the tools and techniques that will enable you to asses risks in order to effectively manage them in order to achieve your goal(s)
  • Provide you with the universal guidelines and standards for risk management in addition to best practices
  • Develop your ability to control risks either by prevention and/or reducing the impact to the organization
  • Apply effective risk monitoring techniques in order to ensure compliance in a cost effective manner
Course Evaluation

The final grade is calculated based on the following components:

Participation in Group Calls 10%
Quiz #1: Chapters 1-4            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, required readings and experiential learning activities (i.e. case studies, group discussions, projects, etc.).

This course  emphasizes student participation through group discussions.  It is expected that students will read the assigned chapters per the weekly requirements.

During Week 3, 5 & 7 in the course, you will be required to participate in active discussions with your group. Your participation grade will be based on this work. You will have from the beginning of the week until the end of the week to participate. The goal is to have an active dialogue among course participants. Each discussion question will have a topic/article posted to guide your discussion. 

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, 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 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 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 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.
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 (
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:



Topics & Readings 

Week 1


  • Chapter 1: Introduction to Risk Management
  • Chapter 2: Risk Management Standards and Guidelines

Watch (Optional)

  • Watch Instructor Presentations 

Week 2


  • Chapter 3: Hazard Risk
  • Chapter 4: Operational, Financial, and Strategic Risk

Watch (Optional)

  • Watch Instructor Presentations 

Week 3


  • Chapter 5: Risk Management Framework & Process
  • Chapter 6: Risk Identification 


  • Watch Instructor Presentations (Optional)
  • Instructor Online WEBEX Session #1 - Assignment #1 Overview (Mandatory) 

Week 4


  • Assignment #1 

Week 5


  • Chapter 7: Risk Analysis 
  • Chapter 8: Risk Treatment

Watch (Optional)

  • Watch Instructor Presentations

Week 6


  • Chapter 9: Big Data Analytics for Managing Risk


  • Watch Instructor Presentations (Optional)
  • Instructor Online WEBEX Session #2 - Assignment #2 Overview (Mandatory)


Week 7



  • Chapter 10: Capital Investment and Financial Risk 
  • Chapter 11: Monitoring and Reporting on Risk 

Watch (Optional)

  • Watch Instructor Presentations 

Week 8


  • Assignment #2