Enterprise Risk Management (RIS650)

The course teaches basic principles of enterprise risk management (ERM) based on recent advances in risk science.

Course description for study year 2024-2025. Please note that changes may occur.


Course code




Credits (ECTS)


Semester tution start


Number of semesters


Exam semester


Language of instruction



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 risk, uncertainty, knowledge, and performance in an enterprise risk management (ERM) and business context. Important topics are ERM frameworks; uncertainties and the potential for surprises; ERM integrating with strategy and performance; and integration of complementary concepts like robustness, resilience, and vulnerability.

Learning outcome

After passing this course, the students should:


  • have in-depth knowledge of enterprise risk management (ERM) principles and frameworks
  • have knowledge of theories, methodologies and concepts related to ERM
  • understand the importance of considering risk in the strategy-setting process
  • have knowledge about types of risk commonly addressed in ERM


  • have the ability to apply principles and frameworks of ERM
  • have the ability to perform risk management work in an enterprise and business context

General competence

  • strengthen the ability to communicate challenges and solutions related to enterprise risk management

Required prerequisite knowledge


Recommended prerequisites

RIS505 Foundations of Risk Analysis and Risk Science


Semester assignment and written exam

Form of assessment Weight Duration Marks Aid
Written exam 1/2 4 Hours Letter grades None permitted
Semester assignment 1/2 1 Semesters Letter grades All

Both semester assignment and written exam must be passed in order to receive a final grade in the course.The written exam is given as a digital exam in Inspera.The semester assignment starts in the beginning of the semester with deadline late October/early November. The project work is carried out in groups. Continuation opportunities are not offered on the semester assignment. Students who do not pass the project assignment can take this part again the next time the subject has regular teaching.

Course teacher(s)

Course coordinator:

Lasse Berg Andersen

Head of Department:

Tore Markeset

Method of work

Lectures, self-study and semester assignment

Open for

Open to all master students at UiS.

Course assessment

There must be an early dialogue between the course supervisor, the student union 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 subject evaluation must be carried out at least every three years. Its purpose is to gather the students experiences with the course.


The syllabus can be found in Leganto