Applied Risk Analysis (RIS615)
The course provides an introduction to conducting risk analyses in practice.
Course description for study year 2025-2026. Please note that changes may occur.
Course code
RIS615
Version
1
Credits (ECTS)
10
Semester tution start
Autumn
Number of semesters
1
Exam semester
Autumn
Language of instruction
English
Content
NB! This is an elective course and may be cancelled if fewer than 10 students are enrolled by August 20th for the autumn semester.
The course covers how risk analyses can be conducted in practice, relevant standards for risk analysis and risk management, how to facilitate risk analyses to contribute to good risk management in practice, as well as success criteria and pitfalls when planning and conducting risk analyses. Examples from various sectors will be presented.
The course consists of 1) a lecture series introducing relevant concepts, approaches, and methods for risk analysis, as well as examples of practical applications, and 2) a project in which students work in groups and develop a report on one or more predefined issues. Students can submit both a draft and a more refined version of the report by specified deadlines. Students who choose to do so will receive written feedback on their submissions and be offered guidance from the course instructor based on the submitted drafts.
Learning outcome
After taking and passing the course student shall:
Knowledge
- Have in-depth knowledge of frameworks, standards, methods and models for risk assessment within selected application areas
- Understand how risk assessments can be used in practice to support risk-informed decision-making
- Understand success criteria and pitfalls when risk assessments are being carried out and used in practice
Skills
- Be able to recognize, describe and distinguish frameworks, standards, methods and models for risk analysis within selected application areas
- Be able to reflect on strengths and weaknesses of these
- Be able to apply selected risk assessment methods to realistic problems
General competence
- Communicate professional problems orally and in writing, analyze, and draw conclusions within the subject area
- Be able to write a report, including mastering proper referencing to the literature used
Required prerequisite knowledge
Recommended prerequisites
Exam
| Form of assessment | Weight | Duration | Marks | Aid |
|---|---|---|---|---|
| Semester assignment | 1/1 | 15 Weeks | Letter grades | All |
A predefined problem statement will be made available on the first day of lectures, and students must submit the final version of their semester assignment within 15 weeks thereafter. The problem statement is provided in English, but the assignment can be answered in either English or Norwegian. The answer to the problem statement should be in the form of a report with a maximum of 30 pages, with appendices excluded from the page count (the appendices are in addition to the 30 pages).A continuation assignment is not offered. Students who do not pass can take the semester assignment again the next time the course is offered.
Course teacher(s)
Course teacher:
Roger FlageCourse coordinator:
Roger FlageHead of Department:
Tore MarkesetMethod of work
Students shall work on the semester assignment in groups, with each group submitting a joint report. The group size shall as a main rule be 2-3 students. Groups consisting of one student may exceptionally be allowed if the other group members withdraw from the course, if there are no other students available to collaborate with (i.e., if there are no other individual students to join and no existing groups of two students are willing to accept an additional member), or for students with approved accommodation needs.
Student-active methodology and close dialogue between the students and the teacher are key elements in the pedagogical work form.