Aviation Risk Management

Aviation Risk Management

From equipment issues that threaten passenger safety to financial processes that threaten business profitability, risk affects every aspect of the modern aviation industry. A Professional Certificate in Aviation Risk Management prepares you to assess, identify, transfer or mitigate risk in every corner of an aviation organization. You can apply your knowledge immediately and use it to grow your career for years to come to not only identify and reduce hazards, but to prevent incidents and accidents as well.

Students may take one course individually or pursue the professional certificate of completion by successfully completing four required courses. There are no prerequisites for the courses in this certificate and the courses are not required to be taken in any set sequence.   

Specific Course Content: (All courses delivered online with a set start and end date and required weekly assignments. Students can login each week at any time of day or day of the week.)

1. Safety: (MGM 2000 or MGM 3000) SMS Overview; Fundamentals of Safety; Human Factors and Safety; Culture and Safety; Safety Investigation; SMS and Airports; Overview of the FAA Final Rule (Students may either take MGM-2000 or MGM-3000 to satisfy the SMS requirement.) — MGM-2000 is 5 weeks; MGM-3000 is 6 weeks. 

2. Legal: (MGM 2100) Regulatory Agencies and the Judicial System; Torts/Negligence/Contract Law; Forms of Business; 
Corporate Protections; Corporate Decision Making; Employee vs Contractors; Alternative Dispute Resolution; Trial vs. ADR; SMS and Legal Considerations —MGM 2100 is 5 weeks.

3. Risk Management and Hazard Identification: (MGM 2300) Fundamentals of Risk Management; Hazard Identification; Incident and Accident Investigation Process; Accident and Incident Prevention — MGM 2300 is 4 weeks.

4. Insurance: (MGM 2200 or MGM 2800) Insurance Purchase; Role of the Broker; Domestic vs International  Insurance; Underwriting; Insurance Coverage; Aviation Insurance Coverage for various Aerospace Operations. (Students may either take MGM-2200 or MGM-2800 to satisfy the SMS requirement.)MGM 2200 is 5 weeks. MGM-2800 is 6 weeks.

AS OF OCTOBER 1, 2016, THE FINANCIAL RISK MANAGEMENT COURSE WILL BE AN OPTIONAL COURSE IN THE PROGRAM.  IT IS NOT REQUIRED TO RECEIVE A CERTIFICATE OF COMPLETION.  (MGM 2400): Financial Risk Management Overview and Theories; Time Value of Money; Risk and Return; Credit Derivatives; Options and Futures; Swaps and Credit Derivatives - MGM 2400 is 8 weeks.

About the Course

Who Should Attend

Because risk affects every individual and department, professionals working in various capacities across the aviation industry can benefit from this knowledge, including:

  • Insurance Professionals
  • Attorneys
  • Project Managers
  • Safety Professionals
  • Airport Managers
  • Pilots
  • Project Managers
  • Finance Professionals
  • Aviation Consultants
  • Aviation Manufacturers and Suppliers
  • Airport Risk Managers
  • Government Entities
Key Topics
Upon completion of the program, you will be able to demonstrate a comprehensive and broad-based understanding of risk management and competency in the areas of:
  • Risk management principles in a complex aviation environment.
  • Safety Management Systems (SMS) concepts to identify and mitigate risk.
  • The regulatory environment as it relates to the aviation industry and
    legal issues related to a comprehensive understanding of risk management;
    apply legal means to mitigate risk.
  • The background, terminology, and principles involved with financial risk
    management in the aviation industry. Apply financial means to mitigate risk.
  • Incident and hazard identification principles to enhance safety in the workplace.
  • The use of insurance in the aviation industry as it relates to the transfer of risk.
  • When: Courses are offered quarterly, starting every January, April, July and October; courses may be taken individually or multiple courses can be taken at once.  The next courses begin Apr 25, 2018.
  • Where: Online
  • Standard Course Fee: MGM 2400 is $799; MGM 3000 and MGM 2800 are $499 each;  All other courses in the certificate: $399.*

*Fee does not include required textbooks. MGM 2100, MGM 2400 and MGM 2800 require a textbook as listed in the course description. The course description can be found on the registration page by clicking on the course title. Students are responsible for purchasing textbooks prior to the start of the course.

Click here to view the certificate brochure.