Applied Risk Analysis (RIS615)
The course gives an introduction to applied risk analysis in different industries and sectors.
Course description for study year 2023-2024. Please note that changes may occur.
Semester tution start
Number of semesters
Language of instruction
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 course will also address how other sources of information, such as accident investigation reports, can be used to manage risk.
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 individually or in groups with two persons and prepare an academic essay on a selection of problem selected by the student from a set of pre-defined problems.
Some gatherings (seminars/workshops) will be held throughout the semester. The students may within defined deadlines submit a rough sketch of solution (interpretation of the problem and plan for the work), and a first draft and second draft of the essay. 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.
After taking and passing the course student shall:
- 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 how other relevant risk related sources of information, such as accident investigations, can be used when risk is managed in society and organizations
- Understand success criteria and pitfalls when risk assessments are being carried out and used in practice
- 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
- Communicate professional problems orally and in writing, analyze, and draw conclusions within the subject area
- be able to write an academic essay, including mastering proper referencing to the literature used
Required prerequisite knowledge
|Form of assessment||Weight||Duration||Marks||Aid|
|Home exam||1/1||Letter grades|
The students shall write an academic essay of maximum 15 pages.The set of pre-defined problems will be made available in the first lecture, and the students shall within 15 weeks of this submit the final version of the essay.