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.


Course code




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Semester tution start


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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.

Learning outcome

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

General competence

  • 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


Recommended prerequisites

RAG500 Foundations of risk analysis and risk science, RIS500 Risk analysis and risk management, RIS505 Foundations of Risk Analysis and Risk Science


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.

Course teacher(s)

Course coordinator:

Willy Solberg Røed

Head of Department:

Tore Markeset

Method of work

Lectures and individual/group work. Student-active methodology and close dialogue between the students and the teacher are key elements in the pedagogical work form. The students will work individually or in groups with two persons in each group. This will be decided by the lecturer and informed about during start-up of the course.

Open for

Risk Analysis - Master of Science Degree Programme Societal Safety - Master's Degree Programme

Course assessment

There must be an early dialogue between the course coordinator, the student representative and the students. The purpose is feedback from the students for changes and adjustments in the course for the current semester.In addition, a digital course evaluation must be carried out at least every three years. Its purpose is to gather the students experiences with the course.


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