Course content

Overall Risk Management. The Risk Management Process (incl. definition, risk identification, risk evaluation, risk control, risk financing and management phase) Leadership of a risk management process. Decision making under uncertainty. Decision making under stress (incl. heuristics). The course is elaborating on the planning processes and leadership theories presented in the course. Integrated Operations I: Management of demanding operations. It is recommended, but not mandatory, to take that course before this course.

Learning outcome

Students must have advanced knowledge in the field of risk management and insight into decision-making under uncertainty, have thorough knowledge of scientific theories and methods in risk management, be able to apply knowledge to new areas in the academic field of risk management, be able to analyse academic issues based on history, traditions, characteristics and place in the academic field of risk management, be able to analyse and relate critically to different sources of information and use them to structure and formulate scientific arguments in risk management, be able to analyse existing theories, methods and interpretations in risk management and be able to work independently with practical and theoretical issues. be able to use relevant methods for research and scientific development work, be able to carry out an independent, limited research or development project under supervision in accordance with current norms for research and ethics, be able to analyse and be able to apply academic, professional and research ethics problems, be able to apply their knowledge and skills in new areas to carry out advanced assignments and projects, be able to communicate about academic issues, analyses and conclusions in risk management, both among specialists and the general public, and be able to contribute to innovation and innovation processes in risk management.

Learning methods and activities

Lectures, individual and group exercises. Students are expected to be present minimum 80% of the time meant for group exercises.

Compulsory assignments

• Mandatory assignment

Specific conditions

Course materials

Aarset, M.V., Risk, Issues and Crisis Management, TERP, 2016.