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Before choosing courseHM2006 Advanced Risk Management 7.5 creditsAdministrate About course

A block in the degree of master course Project Management and Operational Development

Course offering missing for current semester as well as for previous and coming semesters
* Retrieved from Course syllabus HM2006 (Autumn 2014–)

Content and learning outcomes

Course contents

The course is based on the fact that the study course Practical Statistics is completed and thus the participant has full knowledge of how to use Monte Carlo and other statistical and quantitative methods in risk analysis.

During the course the qualitative methods used in different areas will be presented and trained. Furthermore the art of determining the company insurance need will be taught as well as the impact of the organisational management system when it comes to avoiding risks or exposing employees to risk. The Management Oversight and Risk Tree will introduced and in a simplified form used as an instrument to assess human performance.

The risks in estimate of time and cost will be presented, and parametric estimating together with simplified risk assessment methods will be taught as well as risks in procurement and subcontractor cooperation.

Intended learning outcomes

The participants should after completing the study course be able to take the role of (Project) Risk Manager in an organisation. Also he/she will understand the prerequisites of risk reports and the importance of having made risk analysis before making important decisions.

After the course the participants should independently be able to perform

  • Quantitative risk analysis
  • Draw conclusions from density functions
  • Be able to write environmental risk reports
  • Be able to plan the insurance need for a company
  • Distinguish between and use the different risk analysis methods
  • Be able to analyse the impact of the organisation and the management system on the risk situation
  • Be able to assist the top management when analysing business risks
  • Be able to assess the risks in project execution

Course Disposition

No information inserted

Literature and preparations

Specific prerequisites

The participant must have completed Applied Industrial Statistics (ML2104) or equivalent study course in Monte Carlo methods.

Recommended prerequisites

No information inserted

Equipment

No information inserted

Literature

  • Textbook to be decided
  • Electronically distributed documents

Examination and completion

If the course is discontinued, students may request to be examined during the following two academic years.

Grading scale

A, B, C, D, E, FX, F

Examination

  • SEM1 - Assignments and Seminar, 4,0 hp, betygsskala: P, F
  • TEN1 - Examination, 3,5 hp, betygsskala: A, B, C, D, E, FX, F

Based on recommendation from KTH’s coordinator for disabilities, the examiner will decide how to adapt an examination for students with documented disability.

The examiner may apply another examination format when re-examining individual students.

Other requirements for final grade

  • Group assignments in three different areas of risk analysis and a seminar including an advanced seminar report on one area of risk management or analysis (4 credits ECTS) Grades P/F
  • Written examination (3,5 credits ECTS) Grades A-F

Opportunity to complete the requirements via supplementary examination

No information inserted

Opportunity to raise an approved grade via renewed examination

No information inserted

Examiner

Profile picture Anna Hornström

Ethical approach

  • All members of a group are responsible for the group's work.
  • In any assessment, every student shall honestly disclose any help received and sources used.
  • In an oral assessment, every student shall be able to present and answer questions about the entire assignment and solution.

Further information

Course web

Further information about the course can be found on the Course web at the link below. Information on the Course web will later be moved to this site.

Course web HM2006

Offered by

ITM/Sustainable Production Development

Main field of study

Industrial Management

Education cycle

Second cycle

Add-on studies

No information inserted