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This is the study programme for 2019/2020. It is subject to change.


This course will provide insight on Enterprise Risk Management (ERM) in general and Management of Operational Risk in particular. Examples of applications include a wide range of organizations' and industrial sectors from both public and private sector.

Learning outcome

After completing this course, the student should:
  • a basic understanding of Enterprise Risk Management the characteristics of operational risk

capable of putting into use key principles for managing operational risk
  • carry out analyses of operational risk, including setting up Bayesian network models
  • be familiar with different aspects of operational risk e.g. infomation security and physical security

Contents

Enterprise Risk Management (ERM) is reviewed in its entire width with an introduction to all types of risks and a review of various concepts for the implementation of ERM. The main focus of the course is operational risk, which is the risk associated with daily operations in an organization. This involves management of processes, personnel and systems where risk identification and assessment is used as the basis for creating understanding and decision support in order to manage priorities and avoid losses in various forms. Operational risk includes both unintentional and intentional loss events. The emphasis is on creating a basic understanding of how operational risks are affecting the various activities in the businesses from a holistic perspective. Furthermore, the course provides an introduction to relevant methods and techniques that can be used to identify, assess and manage operational risk. Risk modeling using Bayesian Network technology is a central part of the course. Operational risk management touches several fields of study, and the course will give an introduction to a few of these; Information and Communication Technology (ICT) security, money laundering, organizational culture impact on operational risk exposure, incident reporting and organizational learning. Examples of events and applications of models for managing operational risks are collected from a wide range of public institutions and industrial sectors such as oil / gas, banking / finance, insurance and public infrastructure.

Required prerequisite knowledge

None.

Exam

Weight Duration Marks Aid
Written exam and projectwork1/14 hoursA - FNo printed or written materials are allowed. Approved basic calculator allowed.
Project work: If a student fails or want to improve the grade, she/he have to take the whole course again the following year.

Coursework requirements

Assignment 1, Assignment 2
The assignments must be passed to access the written exam.

Course teacher(s)

Course coordinator
Lasse Berg Andersen
Course teacher
Sven David Johannes Häger , Frode Bø
Head of Department
Tore Markeset

Method of work

2 hours of lecture per week

Overlapping courses

Course Reduction (SP)
Managing Operational Risk (MOS140_1) 10
Enterprise Risk Management (RIS530_1) 5
Enterprise Risk Management (MOS220_1) 3

Open to

MSc studies at the Faculty of Science and technology, and the Faculty of Social Sciences.

Literature

Featured articles in compendium and lecture notes


This is the study programme for 2019/2020. It is subject to change.

Sist oppdatert: 17.06.2019