Program Need
The Risk Management Minor (RMM) is being created to meet industry demand, student demand, and at the request of the SHM program’s Industry Advisory Council (IAC). The RMM will add value to the safety and health management majors, and to all other degrees within the Engineering Technologies, Safety, and Construction (ETSC) Department, such as construction management, mechanical engineering technology, industrial technology, and electronics engineering technology. Also, the risk management industry is incredibly diverse and hires talented individuals from nearly every major. Students interested in developing their expertise to analyze the risk dimensions of their chosen field may consider adding the RMM to their undergraduate degree plan. The RMM will give students the tools to analyze risks within a discipline, increasing their marketability and potential for success.
Program Curriculum and Recognized Industry Credential
Due to increase in demand for risk management expertise, the Safety and Health Management (SHM) Program’s 16-member Industry Advisory Council (IAC) formed and charged a small workgroup to study the feasibility of bringing back the risk management specialization that was removed from the SHM major in 2006, in the form of the Risk Management Minor (RMM). The group consisted of three CWU alumni who worked for Wells Fargo, Swedish Medical Center, and T-Mobile, providing risk management services as part of their job functions. The workgroup, with support from SHM faculty, reviewed industry risk management demands and risk management program options. The workgroup spoke to active risk managers and concluded there is a demand within and outside the SHM profession. They found that the most common risk management program in the U.S. is the Insurance Industry of America’s Associate in Risk Management (ARM™) program. The ARM™ program has three courses that are recognized as being at the 300/400 college level.
The workgroup and the SHM program believe that completing the RMM will allow our students to sit for the nationally recognized Associate in Risk Management (ARM™) certification immediately after completing the RMM courses. The ARM certification will be a vital add-on or value-add to CWU students, significantly expanding hiring and promotional potential in most organizations. The prestige of this designation can also positively impact the 300+ majors within the ETSC Department and others. The RMM will help our students leverage their education at CWU with an undergraduate degree and a nationally recognized industry credential.
External Support
The program’s IAC strongly supports creating the Risk Management Minor (RMM). The IAC’s workgroup even mentioned possible support on material costs (i.e., textbooks) for students; this support could be obtained from the Independent Insurance Agents and Brokers of Washington (IIABW) and the Risk Insurance Management Society (RIMS). The local RIMS chapters (Washington and Oregon) have shown interest in and support to develop the RMM. The RIMS of Washington recently donated to the SHM program, which the program will use for goods/ services and student travel to RIMS chapter meetings.
The Institutes, the entity that administers the ARM™ certification, has supported the RMM proposal and is willing to recognize the CWU testing center as an authorized testing center, so students do not have to drive to Puyallup, WA to take the ARM™ exams.
Internal Support / Resources
The SHM faculty do not anticipate this new Risk Management Minor (RMM) impacting any existing programs in our department, college, or university. The SHM faculty has consulted with the departments whose courses might be similar to the proposed courses and has obtained an all clear.
The RMM will add 13 new credit hours to the SHM program. There are four faculty members assigned to the SHM program. The four faculty members include a tenured associate professor, two tenure-track assistant professors (one is currently part of the program and the second one will start in Fall 2017), and a non-tenure-track full-time senior lecturer (multi-year contract). The current faculty for the program provide adequate instructional capacity to offer all of the RMM courses on an annual basis. The certifications held by the faculty members include: Certified Safety Professional (CSP), Associate in Risk Management (ARM™), and Construction Risk and Insurance Specialist (CRIS) from the International Risk Management Institute. All the SHM faculty are members of at least one professional society such as the American Society of Safety Engineers (ASSE), Risk Insurance Management Society (RIMS), American Industrial Hygiene Association (AIHA), National Fire Protection Association (NFPA), and others. Hence, the current faculty members’ industry background/experience is adequate to cover all the curricular areas of the RMM program.
The SHM program’s foundation accounts have sustaining and reliable source of funds to cover any and all incidental expenses for student travel to conferences, chapter meetings, and even establish a RIMS student chapter at CWU.
Student Demand / Value Add-on
The SHM program admits approximately 40 students on a cohort-style basis every year into the program, with 80 majors at any given time in the program. Many students fall short of the 180 credit B.S. degree requirements and are looking for additional credits to complete their undergraduate degree. The Risk Management Minor (RMM) will fulfill their need for additional credits while also increasing the value of their undergraduate degree. The majority of SHM students have shown interest in pursuing the RMM and obtaining the ARM™ certification. Also, the SHM program is anticipated to receive ABET accreditation in summer 2017, which will allow SHM students to graduate with the Board of Certified Safety Professionals’ Graduate Safety Professional (GSP®) credential. When the RMM is established, it will allow for students to graduate with GSP® & ARM™ credentials right out of college; this is unprecedented and will increase demand of SHM graduates. Hence, we anticipate at least 20 SHM students pursuing the RMM every year, with a projected 100 students for the first five years. The basis for these projections is industry demand for risk management expertise among SHM students, which in turn has encouraged students to pursue this RMM. However, if the demand is low, the program will offer RMM courses on a rotating basis every other year. Students will work with their advisor in planning a schedule of coursework to progress to completion of the RMM in 2 years.