IND422 Risk and Opportunity Management
- ECTS Credits:
- 7.5
- Responsible department:
- Faculty of Engineering and Science
- Course Leader:
- John Skaar
- Lecture Semester:
- Autumn
- Teaching language:
- Norwegian with adjustments for English
- Duration:
- 1 term
The course is connected to the following study programs
- Civil and Structural Engineering, Master's Programme
- Master's Programme in Industrial Economics and Technology Management
- Master's Programme in Industrial Economics and Technology Management (5 years)
Teaching language
Norwegian with adjustments for EnglishCourse contents
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Definitions and concepts, reliability, safety and risk
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Quality management, quality assurance
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Project risk, uncertainty of schedules and budgets
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Procedures for risk management, analysis of opportunities and risks
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Risk reduction measures, cost-benefit analysis
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Modeling and simulation of uncertainty, Monte Carlo simulation, use of software
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Life cycle cost, reliability based maintenance and planning
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Reliability techniques, construction reliability
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Technological risks, investigation of technical devices, potential fault mechanisms, structural reliability
Learning outcomes
On successful completion of the course, the students should have:
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Knowledge of methods and related concepts for evaluation and analysis of uncertainties and opportunities related to technology development and project implementation
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The ability to use the software to carry out specific analysis of risks
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Exercise in reflection on the choice of methods and their consequences for society
Examination requirements
Satisfactory submission of mandatory exercises. Requirements will be given at the semester start.
Teaching methods
Lectures, company visit and one written assignment. The course has an expected scope of work of around 200 hours.
Evaluation
The person responsible for the course decides, in cooperation with student representative, the form of student evaluation and whether the course is to have a midway or end of course evaluation in accordance with the quality system for education, chapter 4.1.”
Assessment methods and criteria
Written examination, 2,5 hours, accounts for 50% and portfolio content 50%. Graded assessment.
Information about the content of the portfolio will be given in Canvas by the start of the semester. There will not be arranged a postponed exam for the portfolio.