10162133Assessing and Managing Risk
Course Information
Description
This course will serve as a requirement for the Risk Management & Insurance Certificate as well as a concentration course for Business Management and Finance Degree Students. Risk Management is a foundational concept in insurance today. The legal foundations of loss exposures, the risk management process, and risk management programs will be discussed for all areas  
Total Credits
3
Course Competencies
  1. Identify the costs and benefits of Risk Management.
    Assessment Strategies
    by answering questions in Blackboard.
    Criteria
    you can communicate the purpose and benefits of risk management in business

  2. Describe the major causes of loss affecting property and liability for a business.
    Assessment Strategies
    by reviewing a business in a particular industry and analyzing the loss potential.
    by collaborating with other students to evaluate and locate the exposures to loss.
    Criteria
    you can identify and describe hazards that can increase the potential for loss for a business.
    you can communicate these hazards in writing and verbally.

  3. Identify the liability loss exposures faced by a particular business.
    Assessment Strategies
    by inspecting the physical location of a business.
    by identifying specific liability exposures unique to that business.
    Criteria
    you can communicate what was visualized and relate that to loss potential
    you can complete a risk assessment

  4. Analyze risk management strategies in the reduction of exposure to loss for a business.
    Assessment Strategies
    by preparing a risk analysis of a business that includes exposures and recommended risk strategies
    by communicating the exposures and recommendations
    by answering a set of questions in Blackboard
    Criteria
    your research reflects an understanding of exposures to loss.
    you are able to make decisions on ways to mitigate that loss.

  5. Recognize Operational and Strategic Risks.
    Assessment Strategies
    by evaluating risk scenarios and recommending solutions
    Criteria
    your solutions indicate an understanding of the exposures.
    you apply risk management strategies effectively.
    you can communicate and explain these exposures and recommendations

  6. Apply Frequency, Severity and Probability to measure risks.
    Assessment Strategies
    by completing a risk measurement for a particular company
    Criteria
    your reflection shows an understanding of risk measurement and recommendations that can be applied in business.

  7. Write implementation steps for risk management strategies.
    Assessment Strategies
    by analyze a particular businesses  loss potential and recommending steps to reduce the risk.
    by identifying losses that may occur and recommending strategies for mitigation.
    Criteria
    you can complete a written risk management plan.

  8. Reflect on the strategies involved in managing risks for a business.
    Assessment Strategies
    by answering a set of questions in Blackboard outlining your understanding of risk management.
    by identifying methods to monitor decisions.
    Criteria
    your reflection shows an understanding of evaluating exposures to loss and making recommendations that can be implemented in business.
    you can make suggestions for monitoring risk management strategies