The nature of risk management and the role of the risk manager in both profit and not-for-profit business and governmental organizations are explored in FIN/RMI 314 – Risk Management. A decision framework for risk management choices is developed. Consideration is given to how risk management techniques impact shareholder value with emphasis placed on cash flow management. Application of principles is reinforced through in- and out-of-class assignments. Financial management techniques are used to evaluate alternative methods of handling risk. Students are expected to become informed about current issues in risk management through subscriptions to and use of on-line resources.
The students took on the role of risk manager to assess a local company, which is hypothetically being considered as a merger candidate. Working in groups, the students collected operational and financial data on their selected company and did a risk assessment. Students were required to create their own risk assessment tool which allowed them to evaluate the risks that most concerned them and those risks that offer an opportunity for growth. Students also assessed the firm’s efforts in achieving success financially, environmentally, and in their relationship with all stakeholders (triple bottom line).
McNichol, Kathi PhD, "Risk Management (FIN/RMI 314) City as Classroom Project Report" (2010). City as Classroom Projects. 6.