Purdue University Calumet
School of Technology
Course Syllabus
OLS 33600 - Fundamentals of Risk Assessment and Management
Credits and Contact Hours:
3 credit, 3 contact hours
Instructor’s or Course Coordinator’s Name:
Shoji Nakayama
Text Book, Title, Author and Year:
Title: Risk Assessment. Baranoff, E.G., Harrington, S.E., and Niehaus, G. R. (2005). (1st ed.).
Malvern, Pennsylvania: AICPCU.
Introduction to the Course:
a. Catalog Description
Explore techniques for assessment and methods for managing the risk associated with
occupational injuries, illnesses, deaths and property damage in the workplace. The principle
methods include: 1) identifying the exposure to loss; 2) evaluating alternative techniques for
treating the exposure; 3) selecting the appropriate techniques; 4) implementing the chosen
technique; and 5) monitoring and improving the risk management system.
b. Prerequisites: OLS 33100 and OLS 33300
c. Selective Course
Specific Goals to the Course:
a. Upon successful completion of the course, the student will be able to:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
Describe risk management and its broad scope (b, e, k)
Identify the elements of a risk management strategy (e, j, k)
Describe the net income and loss exposures (k)
Discuss consequences of personnel loss exposures (k)
Describe legal liability exposures (k)
Discuss management liability loss exposures (k)
Identify and utilize most applicable risk assessment techniques (a, e, j, k)
Demonstrate job analysis and risk assessment process (a, g, k)
Describe basic risk control hierarchy of eliminate/substitution, engineering controls,
warning, training and procedures/administrative, and personal protective equipment (a, e,
j, k)
Discuss the relationship between accident and incident prevention as an element of risk
management (k)
Describe the role of training in risk control (k)
b. Student Outcomes
This course satisfies ABET Criterion a, b, e, g, j and k
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Course Delivery Methods (check all that apply):
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Lecture
Laboratory
Online
Discussion groups
Projects
Other (explain)
Factors Used to Determine the Course Grade (check all that apply):
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Quizzes (including assessments – 20%)
Exams (10%)
Homework (20%)
Papers (20%)
Lab Reports
Class participation (including discussion boards – 15%)
How final grade is determined – professional development/engagement – 15%
Brief List of Topics to be Covered:
Risk management cost and benefits
Risk management program goals
Risk management process (Step 1 ~ 6)
Major causes of loss affecting property
Methods of valuing property
Legal interests in property
Methods of identifying property loss exposures
Legal liability based on torts, contracts, and statutes
Premises and operations liability loss exposures
Workers compensation liability loss exposures
Environmental liability loss exposures
Professional liability loss exposures
Directors’, officers, and employment practices liability loss exposures
Corporate governance and risk management
Personnel exposed to loss
Causes of loss
Workplace hazards
Financial Consequences of personal losses
Business risk
Hazard risk
Probability analysis
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