FAK 2602 Risk Management


FAK 2602 Risk Management

Responsible for the course
Kjell Smedsrud

Department of Accounting - Auditing and Law

According to study plan

ECTS Credits

Language of instruction

Anybody responsible for, or participating in, an activity should have a conscious relation to both what risk factors this activity is exposed to and what risk factors the activity itself is creating towards its surroundings. There will be no objective aiming for “no risk exposure” , but to be conscious when examining the goals of an activity evaluated against the risk factors attached to it. To put this thought process into action this course will describe, systemize and discuss a Risk Management process.

Learning outcome
The knowledge acquired in this course Risk Management is to be used among decision-makers and consultants in the insurance industry as well as users of insurance services both in public or private organizations.

Acquired knowledge
During the course students shall:

  • Obtain knowledge of three prosesses an organization should accomplish when exposed to an undesirable risk:
    • To identify and evaluate risks
    • Examine measures in order to reduce these risks for instance risk elimination
    • Crisis management prosess.

Acquired skills
After the course students will:
  • Know how to use this knowledge by carry into effect a risk management prosess
  • Be able to make plans how to accomplish risk elimination and carry out a crisis management prosess.

During the course, the students should have acquired a conscious attitude to the fact that their professional choices and advices first and foremost are of importance for other people than themselves.


Compulsory reading
Aarset, Magne Vollan. 2010. Kriseledelse. Fagbokforlaget. 296 sider

Utdelt materiale

Recommended reading
Mitroff, Ian I. and Gus Anagnos. 2001. Managing crisis before they happen : what every executive and manager needs to know about crisis management. Amacom

Course outline
  • Definition phase
  • Risk identification
  • Risk evaluation
  • Risk control
  • Risk funding
  • Leadership and decision-making
  • Problem-solving
  • Crisis management prosess

Computer-based tools
Computer based tools is not used in this course.

Learning process and workload
Organized as distance education based on self-tuition and 2 assignments (mandatory)(FAK 26022 and FAK 26023). Intensive seminars are organized and participation is mandatory (2+3 days)

Recommended workload in hours
Participation on the 5 seminar days
2 mandatory assignments
Reading of curriculum
Project pape
Total recommended use of time

    The exam is a project assignment that can be solved individually or in groups of up to maximum 3 students. If used for Authorization the candidate must obtain at least grade C.

    Examination code(s)
    FAK 26021 Risk Management. Term paper which foaccounts for 100 % of the final grade in the course FAK 2602 Risk Management. 7,5 credits.

    Examination support materials
    All support materials allowed.
    Examination support materials at written examinations are specifies under exam information in our web-based Student Handbook. Please note the use of calculator and dictionary. http://www.bi.edu/studenthandbook/examaids

    Re-sit examination
    A re-sit is held at the next regular exam in the course.

    Additional information