Applied Risk Analysis (RIS615)
The course gives an introduction to applied risk analysis in different industries and sectors.
Course description for study year 2024-2025
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 addresses how risk assessments can be carried out in practice in selected applications, relevant standards for risk assessment and risk management within different industries and settings, how it can be ensured that risk assessments contribute to successful risk management in practice, as well as success criteria and pitfalls when risk assessments are being planned and performed in practice.
The topics addressed in the course will vary. The course is based on relevant articles and books and is carried out as a project work where students work in groups and prepare a report on one or more pre-defined problems.
The students may within defined deadlines submit a rough sketch of solution (interpretation of the problem and plan for the work) and a report draft. The students who choose to do so will receive feedback on their submissions and an offer of guidance with the teacher 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 |
The students shall write a semester assignment of maximum 20 pages plus appendices. Carried out in groups.The pre-defined problem or problems will be made available in the first lecture, and the students shall within 15 weeks of this submit the final version of the assignment.A continuation assignment is not offered. Students who do not pass can take the semester assignment again the next time the course is offered.
