Risk Analysis, Master of Science Degree Programme

Society is in a rapid development where urbanisation, climate change and increasing energy needs put pressure on the world’s resources - and create new risk and safety challenges. Change and sustainable development of society is necessary. Working life needs good candidates who can contribute with high competence in risk.

The study program in risk analysis gives you unique competence in understanding and relating to risk, including risk assessment, risk perception, risk communication, risk management and risk governance, policy related to risk, and risk science. Key topics related to safety (safety and security) and resilience are also covered, as well as topics related to emergency preparedness and crisis management. The study programme is based on concepts and ideas developed through the Society for Risk Analysis over the past 40 years.

The programme is suitable for you who are interested in achieving an advanced understanding of risk – of what creates risk and how to achieve safety.

Do you want to make a difference? As a risk expert, you can work with specific challenges, such as achieving the UN’s sustainability goals. These goals are the world’s joint work plan to eradicate poverty, fight inequality and halt climate change by 2030. As a risk expert, you can help achieve more of the sustainability goals. For example, sustainability goal number 11 is about making cities and communities inclusive, safe, robust and sustainable; and sustainability goal number 13 is about strengthening the ability to resist and adapt to climate-related dangers and natural disasters in all countries. You will also be able to contribute to the discussion on how best to design such goals and follow them up. Risk analysis and risk science help you ask the important and critical questions to ensure a good understanding of risk and focus on the best approaches and measures in this context.

The study program has two specialisations:

• The specialisation in risk analysis and governance is relevant for students with all types of backgrounds. This specialisation provides a broad risk competence, emphasising risk governance.
• The specialisation in engineering risk analysis and management is for students with an engineering background. This specialisation provides a broad risk competence, emphasising risk assessment and risk management. The specialisation has an engineering profile and covers topics such as probability calculation and statistics, reliability analysis and technical safety.

During the study, there is an opportunity for an internship in a professional environment outside the university, such as a company, public agency, research institute or major project work at the university.

Learning outcomes

After having completed the master’s programme in Risk Analysis, the student:

Knowledge

K1: has advanced knowledge within the academic field of risk science, related to concepts, theories, principles, approaches, methods and models for understanding, assessing, characterising, communicating, managing and governing risk, safety and security.
K2: has specialised insight into risk assessment and risk management with an engineering theory and method profile, or in risk governance with a social science theory and method profile, depending on the chosen specialisation
K3: has in-depth knowledge of theories and methods that form the basis for and that characterise risk science.
K4: can apply this knowledge to new types of problems and issues, in particular practical cases and problems in society, industry, business, etc. 
K5: can analyse scientific issues based on the scientific area’s history, traditions, uniqueness and place in society.

Skills

F1: can evaluate theories, principles, interpretations, methods and models within risk analysis.
F2: can develop and apply methods and models in risk analysis; depending on specialisation, methods for risk assessment, reliability analysis, cost-benefit analysis and risk perception analysis.
F3: can plan and conduct analyses (interpreted in a wide sense) in an independent manner of risk, safety and security, using the above knowledge. 
F4: can use relevant methods for research and scientific/scholarly work in an independent manner. 
F5: can analyse and deal critically with various sources of information and use them to structure and formulate scientific/scholarly arguments. 
F6: can carry out an independent, limited research or development project under supervision and in accordance with applicable norms for research ethics.

General Competence

G1: can analyse relevant professional, occupational and research ethics issues.
G2: can apply their knowledge and skills to deal with questions related to risk analysis, and in new areas to carry out advanced work tasks and projects.
G3: is able to evaluate the applicability of different tools and approaches that are relevant to risk analysis, and examine the short- and long-term effects of different practices and solutions.
G4: can disseminate extensive independent work.
G5: is familiar with and can use the current terminology within the field.
G6: can communicate about scientific issues, analyses and conclusions within the field, with both specialists and the general public.
G7: can guide decision-makers and other stakeholders on how to understand, assess, manage and govern risk, safety and security. 
G8: can contribute to innovation and in innovation processes. 

Syllabus

The study programme is organised at the Department of Safety, Economics and Planning. The programme comprises in total 120 credits (ECTS points), out of which 60 ECTS points are mandatory courses, 30 ECTS points elective courses, and 30 ECTS points the master’s thesis. 

The course work consists of lectures, seminars, project assignments, as well as mandatory and voluntary exercises. 

The department offers a list of recommended and other elective courses. Elective courses beyond these must be approved by the department. 

The master’s thesis may be prepared either with a faculty advisor only, or in cooperation with an external partner (industry, public agencies, etc.). In order to be write a master thesis, satisfactory study progression must be demonstrated as cited in the Regulations for the master’s thesis. 

UiS wishes to offer all its programmes and courses as planned; however, courses still have to be subject to availability of resources and a minimum student enrolment.

Career prospects

The study program in risk analysis gives advanced knowledge in fundamental topics within risk science. This is an attractive competence both in working life and in research. The study program qualifies for several different types of positions in both the private and public sector, for example:

Risk analyst, advisor or consultant: Risk analysis is today in extensive use in both the private sector, for example, in the petroleum and energy industries, banking and finance, and the ICT industry; and in the public sector, for example, in health care, in urban and regional planning, and the planning and operation of public infrastructure. Risk analysis is also being used in an ever-increasing number of industries and sectors. This creates a need for candidates with strong risk analysis competence who can ensure proper assessment, characterisation, communication, management, and governance of risk. The study program provides the necessary broad and general competence to work as a risk analyst, advisor or consultant.

Manager: An important management task is to make decisions under uncertainty about future consequences, i.e. when faced with risk. Risk assessments constitute an important basis for decision-making in such situations. A high level of competence is then required in understanding and interpreting the results of risk assessments and in conducting risk evaluations. Furthermore, a high level of competence is needed in communicating risk and in understanding how risk is often perceived differently by lay people compared with in professional risk assessments. Finally, there is a need for high competence in risk management and governance, and in the formulation of risk policies to ensure acceptable risk.

Researcher: As a risk researcher, there are many opportunities to contribute to the development and expansion of various parts of the research front. Key fundamental questions studied in risk science are: How to understand risk and uncertainty? How to express risk and uncertainty? How to determine what is acceptable risk? A completed master’s degree in the risk analysis programme with a grade point average of at least B and a minimum grade of B on the master’s thesis can qualify for admission to the PhD programme in science and technology with specialisation in risk management and societal safety at the University of Stavanger.

Course assessment

Schemes for quality assurance and evaluation of studies are stipulated in Quality system for education.