BMC 326 - Risk Assessment and Treatment

Course Description

Formerly BMC 158 Risk Control. Students who have taken BMC 158 should not enrol in this course.

Risk assessment processes help organizations to identify non-speculative and speculative risks, and make decisions regarding whether risk treatment is needed. Gain a broad understanding of assessment and treatment techniques that can help an organization to prepare for, and effectively deal with, potential hazards or insurable risks. Understand a number of risk control techniques and their application to situations involving accidental loss to property, personnel, environment and income. Discuss emerging risks in social media, regulations, supply chain management, crime and cyber space.

It is recommended that students complete BMC 327 Risk Management Principles and Practices prior to enrolling in this course.

Course Details

Upon successful completion of this course, you will be able to:

1. Interpret how the potential hazard and operational risks faced by an organization can be identified and treated
2. Understand how Risk Assessment and Risk Treatment are integral parts of a successful risk management program for any organization.
3. Apply economic concepts and principles to the interpretation and analysis of various business situations.
4. Explain risk assessment and treating techniques for the major categories of risk faced by organizations.
5. Explain accident causation and fundamental risk control techniques. Apply system safety analysis to identify potential losses and to determine the causes of losses that have occurred.
6. Apply risk identification and analysis to the following traditional hazard risks:
   • property (including intellectual property)
   • personnel
   • liability
   • net income
7. Explain how to address emerging risks such as cyber risk, climate change risk, and reputation risk.

Applies Towards the Following Program(s)

• Certificate in Professional Management specializing in Risk Management : Risk Management Courses