The Risk Management Module (RMM) first started in 2003 to show that the Valuation Profession took risk management seriously and were therefore good candidates for professional indemnity insurance.
The current version of RMM (2018) is valid for competion in years 2018 - 2020. A new version will be released in 2021.
Valuers who are members of API are required to complete this compulsory module every three years to ensure that they are up-to-date and have the tools to get their risk management right.
Risk management training is important as it puts a consistent base line under the industry and what is acceptable in terms of quality, standards and risks, and provides a standard to which Valuers should operate as professionals in the business.
All API Members who undertake valuations of Australian property (intellectual, personal, real and leasehold property (including plant and machinery) are required to hold a current RMM Completion Certificate.
Applicants for Provisional Membership with Residential Property Valuer and Associate Membership with Certified Practising Valuer must complete a RMM as part of the Future Property Professionals Program.
This online module is for those who cannot attend a face-to-face workshop. It covers:
- Recap on RMM key background messages
- How professional indemnity insurance works
- Myths and bugbears
- Data & intellectual property
- The rise of artificial intelligence
- Clear report writing
- Case Study Exercises
At the end of the module there will be an online assessment quiz fo you to complete in order to obtain your RMM certificate
NB: If you have not done RMM before you need to complete the Introduction to RMM online module before registering for this module.
If your RMM certificate expires on 31 Dec 2019, and you have done any valuations in the 2019 calendar year, you must complete a new Risk Management Module prior to the 31st December 2019 or you will not be able to access your 2019 CPD Compliance Certificate.
Completing this online module will accrue 3 API CPD Points.