The High Plains Ranch Practicum (HPRanchPracticum.com) teaches, and helps producers apply, risk management strategies in the areas of production, financial, marketing and personnel risk through a hands-on approach.
Risk Management Education supported the class during the 2010-2011 year. The program consisted of eight full-days over seven months. Teaching occurred through hands-on learning using case studies, example ranches, field exercises and classroom instruction. This year´s program included sessions on writing business and livestock marketing plans, understanding range and livestock price insurance and in-depth assistance on calculating unit cost of production. By writing business and marketing plans, participants learned to identify the opportunities and risks to their business as well as ways to plan for and mitigate risk. Individual ranch visits during and following the program assisted participants in gathering, interpreting and applying knowledge gained. A scholarship program rewarded producers for completing class assignments. Participants attending the 2010-11 class estimated a collective increase in profit of $87,000 to their ranch businesses.
Number of Participants: 27
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REPORTS & EVALUATIONS
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