Master of Science in Industrial Asset Management

Industrial Asset Management brings a modern twist to engineering education. Through this Master's degree, you will acquire expertise in both technical engineering and management that is highly requested in various industrial sectors.

Updated on
About the programme
Duration

2 years (4 semesters)

Language of instruction

English

ECTS credits

120

Start of studies

August every year

illustrasjon av energipolitikk

This programme levels up your engineering education with practical management knowledge about modern industrial assets. You will learn about relevant standards, regulations, best industrial practices and systems  (industrial equipment and infrastructure), digitalised and integrated operations, modern industrial maintenance, and enabling technologies of Industry 4.0. 

In this study you will gain the asset management mindset where you utilise data and consider risk and consequences, to estimate cost and benefits. This mindset will help you to take optimal decisions about operations and maintenance of facilities like offshore wind farms.  

You will mainly learn how to manage modern, digital, advanced, and complex industrial facilities/engineering systems in industrial and public organisations. Furthermore, you will gain skills to manage the life cycle phases of engineering assets such as design, construction, installation, operation, maintenance, and recycling in a sustainable manner.   

This MSc programme has a strong international profile with students from all over the world.  

Career prospects

The programme qualifies the graduates for a broad range of positions in private industry and public organizations. Since the core of the master programme consists of commonly usable principles and methods, graduate students can qualify for many attractive job positions in both the Land-based and offshore industries.

In general, the graduates will be well qualified for positions within various sectors inclusive of facility/plant owners or operators, service and technology providers, engineering contractors, consultants, authorities, as well as public institutions who are involved in designing, building, operating, removing, and/or recycling of advanced and complex engineering facilities and systems. This can include, for instance, energy production and distribution, manufacturing, infrastructure, offshore systems and platforms, processing facilities, and a wide variety of other engineering and service industries.

Many will also have interesting job opportunities within research, education, or in the public sector devoted to control, regulation, and law enforcement of industrial sectors.

A candidate with a completed master's degree in Industrial Asset Management with a minimum average grade of B for courses and a grade of A or B for Master thesis may qualify for admission to an engineering/technical PhD programme at the University of Stavanger.

Learning outcomes

All study programmes at the UiS have a set of defined learning targets. Read more about the learning outcome for this study programme.

After having completed the master programme in Industrial Asset Management, the student shall have acquired the following learning outcomes, in terms of knowledge, skills and general competences:

Knowledge

K1: The candidate has advanced and interdisciplinary knowledge in industrial assets and systems both in the public and private sectors.

K2: The candidate has thorough and relevant knowledge in industrial and maintenance engineering of smart and technological supported industrial assets (ex. production systems/processes, production facilities, technical systems/machinery/equipment, etc.) that covers the scope of NORSOK Z-008 standard and comply with Industry 4.0 vision.

K3: The candidate has thorough and relevant knowledge in industrial asset management of advanced, complex, and integrated industrial assets that covers the scope of ISO 55000 and IEC 60300 standards.

K4: The candidate has knowledge of engineering, operations, and management of industrial assets that can be used for analysis, development, and innovation in new areas of practical and/or theoretical importance.

K5: The candidate has the ability to analyse practical or academic problems in industrial assets based on history, traditions, and industrial and societal needs.

Skills

S1: The candidate can analyse existing theories, methods, and interpretations in industrial assets (ex. Production systems/processes, production facilities, technical systems/machines / equipment, etc.) and work independently with practical and theoretical problem-solving. The candidate can independently identify, map, analyse and solve challenging industrial processes/problems using existing theories, methods, and interpretations in the field.

S2: The candidate can use relevant methods and knowledge for research and professional development in an independent manner.

S3: The candidate can capture stakeholders’ needs, measure, analyse and visualise performance indicators and asset health measures, model, simulate and predict asset behaviours, and diagnose and prescribe interventions.

S4: The candidate can analyse and relate critically to various sources of information and use them to structure and formulate practical and/or academic arguments related to engineering, operations, and management of industrial assets.

S5: The candidate may conduct an independent, limited research or development project under supervision and in accordance with current research ethical standards related to engineering, operational, and managerial activities.

General Competence

G1: The candidate can analyse relevant academic and research ethical challenges and be eligible to participate in the development and implementation of new technologies, methods and principles, as well as engineering, operations, or management solutions for industrial assets in the industry.

G2: The candidate can apply knowledge and skills in new areas to carry out advanced tasks and projects related to industrial assets.

G3: The candidate can communicate comprehensive work professionally and independently, and master terminology, language, and expression in industrial assets.

G4: The candidate can communicate professional issues, as well as analyses and conclusions in the field, both with specialists and the general public.

G5: The candidate can contribute to new thinking and innovation processes in technology and management of advanced, complex, and integrated industrial assets in all life cycle phases.

Study plan and courses

Already a student? Find the full study programme description and study plan here
  • Compulsory Courses

    • Condition Monitoring and Predictive Maintenance

      Year 1, semester 1

      Condition Monitoring and Predictive Maintenance (IAM540)

      Study points: 10

    • Complex industrial systems, Vulnerable conditions, and Integrity

      Year 1, semester 1

      Complex industrial systems, Vulnerable conditions, and Integrity (IAM570)

      Study points: 10

    • Probability and Statistics 2

      Year 1, semester 1

      Probability and Statistics 2 (STA500)

      Study points: 10

    • Smart Operations and Maintenance

      Year 1, semester 2

      Smart Operations and Maintenance (IAM510)

      Study points: 10

    • Industrial assets, Modern uncertainties, and Performance

      Year 1, semester 2

      Industrial assets, Modern uncertainties, and Performance (IAM560)

      Study points: 10

    • Reliability Analysis

      Year 1, semester 2

      Reliability Analysis (RIS510)

      Study points: 10

    • Agent simulation and digital twins

      Year 2, semester 3

      Agent simulation and digital twins (IAM640)

      Study points: 10

    • Master's thesis in Industrial Asset Management

      Year 2, semester 3

      Master's thesis in Industrial Asset Management (IAMMAS)

      Study points: 30

    • Investment Analysis

      Year 2, semester 3

      Investment Analysis (IND500)

      Study points: 5

    • Project Management

      Year 2, semester 3

      Project Management (IND510)

      Study points: 5

  • Recommended Electives 3rd semester

    • Introduction to Data Science

      Year 2, semester 3

      Introduction to Data Science (DAT540)

      Study points: 10

    • Practical Training in Industrial Asset Management

      Year 2, semester 3

      Practical Training in Industrial Asset Management (IAM680)

      Study points: 10

    • Green Transition

      Year 2, semester 3

      Green Transition (IND570)

      Study points: 10

    • Foundations of Risk Analysis and Risk Science

      Year 2, semester 3

      Foundations of Risk Analysis and Risk Science (RIS505)

      Study points: 10

  • Other Electives 3rd semester

    • Supply Chain and Operations Management

      Year 2, semester 3

      Supply Chain and Operations Management (MSB255)

      Study points: 10

    • Energy, Energy Technologies, and Energy System Integration

      Year 2, semester 3

      Energy, Energy Technologies, and Energy System Integration (PET515)

      Study points: 10

    • Technical Safety

      Year 2, semester 3

      Technical Safety (RIS520)

      Study points: 10

  • Exchange studies 3rd semester

Academic requirements

A bachelor’s degree in any engineering discipline is required. Applicants must have the equivalent of 25 ECTS credits in mathematics, 5 ECTS credits in statistics and 7,5 ECTS credits in Physics.

It may be an advantage if the applicant has taken subjects related to engineering, technical and operational aspects of engineering facilities/systems and processes in the bachelor's degree and/or has relevant technical and operational industrial experience related to engineering systems and processes.

Admission to this master's programme requires a minimum grade average comparable to a Norwegian C (according to ECTS Standards) in your bachelor's degree. Applicants with a result Second-class lower Division or lower are not qualified for admission.

Supplementary rules for admission (PDF)

Application and admission

Student life at UiS

Student exchange

By going on exchange to one of our partner institutions abroad as part of your studies, you will have an opportunity to get a unique education. In addition to improving your career opportunities, you grow as a person and gain the ability to greater reflect on the topics you study as part of your degree. All about exchange

Schedule for the exchange

Students can go on a study abroad experience during the 3rd semester of the master programme in Industrial Asset Management.

This semester consists of 10 ECTS credits of electives, and the student must be able to find a corresponding course at the host university of they choose to go on an exchange. The courses you want to take abroad must be approved by the department. It is important that the subjects/courses from abroad do not overlap with subjects you have already taken. Some advice is to think about your field of interest.

You must choose at least one non-science/technological course equivalent to 5-10 ECTS (e.g. economics, languages, ethics, project management, green transition or similar).

More opportunities

In addition to the recommended universities listed below, UiS has several agreements with universities outside Europe that are applicable to all students at UiS, provided that they find a relevant subject offering. Within the Nordic and Baltic region, all students can use the Nordlys and Nordtek networks.

Find out more.

Contact your Study Adviser at the Faculty if you have questions about guidance and pre-approval of courses:

Iselin Torland Tjensvold

Cathrine Hofker Tønnessen

General questions about the exchange: Go to the exchange guide in the Digital student service desk

Student exchange

  • All countries

    Chalmers tekniska högskola

    Tenker du på utveksling til Sverige har Chalmers tekniska högskola i Gøteborg mye å tilby. Chalmers er et teknisk universitet i Göteborg med rundt 10.000 studenter og fokus på forskning og utdanning innen teknologi, naturvitenskap og arkitektur.

    Delft University of Technology

    Delft University of Technology, også kjent som TU Delft, er regnet for å være blant verdens mest prestisjetunge universitet innen ingeniørfag og teknologi. Dette er en unik mulighet for deg som studerer ingeniørfag!

    Ecole centrale de Nantes

    Central Nantes, a top ranking school on the international stage, situated in the beautiful city Nantes.

    Lappeenranta University of Technology

    Lappeenranta University of Technology (LUT) er et ungt og innovativt universitet i Finland, som er kjent for å koble forskning og utdanning innen teknologi og business og ha et strategisk fokus på bærekraftig teknologi og energi.

    Luleå tekniska universitet

    Luleå tekniska universitet er Sveriges nordligste universitet. Hovedcampus ligger 5 km fra Luleå sentrum, en koselig havneby med ca. 46 000 innbyggere. Universitetet samarbeider tett med industri og næringsliv.

    Politecnico di Milano University

    Politecnico di Milano er Italias største tekniske universitet med om lag 40.000 studenter og er høyt rangert på en rekke internasjonale rankinglister.

    Polytechnic University of Catalonia

    Catalonia venter – reis på utveksling til Politechnica de Catalunya ( UPC)!

    Queensland University of Technology

    Queensland University of Technology (QUT) er et av Australias største universitet med 40.000 studenter og en stor andel internasjonale studenter. Reis "down under" og bli en del av dette studentmiljøet du også!

    RWTH Aachen University

    Er du på utkikk etter en spennende mulighet i Tyskland er RWTH Aachen University det naturlige valget! Universitetet streber etter å bli det beste tekniske universitetet i Tyskland og er på god vei til målet.I tillegg er de høyt rangert innen økonomi. Bli med på en del av reisen – bli utvekslingsstudent i Aachen!

    SRH University Berlin

    Er du interessert i å oppleve storbyen Berlin samtidig som du ønsker å studere ved et lite, tysk universitet som har fokus på den enkelte student, så er SRH Hochschule Berlin et godt valg for deg.

    Tampere University

    Tampere University ligger i Tampere regionen, som er Finlands nest største regionale senter etter Helsingfors. Universitetet er internasjonalt høyt rangert og er kjent for god undervisning og for å kombinere forskning innen naturvitenskap og teknikk med industri og næringsliv. Campus ligger midt i de tusen sjøers land og bare 2 timer fra Helsinki.

  • Australia

    Queensland University of Technology

    Queensland University of Technology (QUT) er et av Australias største universitet med 40.000 studenter og en stor andel internasjonale studenter. Reis "down under" og bli en del av dette studentmiljøet du også!

  • Finland

    Lappeenranta University of Technology

    Lappeenranta University of Technology (LUT) er et ungt og innovativt universitet i Finland, som er kjent for å koble forskning og utdanning innen teknologi og business og ha et strategisk fokus på bærekraftig teknologi og energi.

    Tampere University

    Tampere University ligger i Tampere regionen, som er Finlands nest største regionale senter etter Helsingfors. Universitetet er internasjonalt høyt rangert og er kjent for god undervisning og for å kombinere forskning innen naturvitenskap og teknikk med industri og næringsliv. Campus ligger midt i de tusen sjøers land og bare 2 timer fra Helsinki.

  • Frankrike

    Ecole centrale de Nantes

    Central Nantes, a top ranking school on the international stage, situated in the beautiful city Nantes.

  • Italia

    Politecnico di Milano University

    Politecnico di Milano er Italias største tekniske universitet med om lag 40.000 studenter og er høyt rangert på en rekke internasjonale rankinglister.

  • Nederland

    Delft University of Technology

    Delft University of Technology, også kjent som TU Delft, er regnet for å være blant verdens mest prestisjetunge universitet innen ingeniørfag og teknologi. Dette er en unik mulighet for deg som studerer ingeniørfag!

  • Spania

    Polytechnic University of Catalonia

    Catalonia venter – reis på utveksling til Politechnica de Catalunya ( UPC)!

  • Sverige

    Chalmers tekniska högskola

    Tenker du på utveksling til Sverige har Chalmers tekniska högskola i Gøteborg mye å tilby. Chalmers er et teknisk universitet i Göteborg med rundt 10.000 studenter og fokus på forskning og utdanning innen teknologi, naturvitenskap og arkitektur.

    Luleå tekniska universitet

    Luleå tekniska universitet er Sveriges nordligste universitet. Hovedcampus ligger 5 km fra Luleå sentrum, en koselig havneby med ca. 46 000 innbyggere. Universitetet samarbeider tett med industri og næringsliv.

  • Tyskland

    RWTH Aachen University

    Er du på utkikk etter en spennende mulighet i Tyskland er RWTH Aachen University det naturlige valget! Universitetet streber etter å bli det beste tekniske universitetet i Tyskland og er på god vei til målet.I tillegg er de høyt rangert innen økonomi. Bli med på en del av reisen – bli utvekslingsstudent i Aachen!

    SRH University Berlin

    Er du interessert i å oppleve storbyen Berlin samtidig som du ønsker å studere ved et lite, tysk universitet som har fokus på den enkelte student, så er SRH Hochschule Berlin et godt valg for deg.

More information about Industrial Asset Management

Do you want to study Industrial Asset Management?
Jayantha Liyanage talks about Industrial Asset Management.

Study environment

Frequently asked questions

Why should I choose UiS?

This study, industrial technology and operations management, is quite unique. There are not many engineering disciplines that focus on technology, operational and management aspects of complex technical systems.

What are the job prospects after completing a master's degree?

If you look at the labor market now, the industrial norm becomes more complicated and more technologically advanced. Students must acquire skill sets and qualifications beyond the traditional engineering subject. This study program is designed to provide the qualifications required of future engineers. Everyone who takes this course is competitive in the job market.

What qualities do students need to succeed?

We need engineers who can think outside the box. If you choose this master's degree, it is an advantage that you are independent, creative and want to be part of the industrial development.

Contact us

Higher Executive Officer
51831867
Faculty of Science and Technology
Faculty Administration TN
Kontor for utdanningsadministrative tjenester
Associate Professor
51832794
Faculty of Science and Technology
Department of Mechanical and Structural Engineering and Materials Science