FAK 2602 Risk Management

FAK 2602 Risk Management

Course code: 
FAK 2602
Law and Governance
Course coordinator: 
Ina Due-Tønnessen
Course name in Norwegian: 
Risk Management
Product category: 
Course in Insurance
2018 Autumn
Active status: 
Level of study: 
Teaching language: 
Course type: 
One semester

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 outcomes - Knowledge

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.

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.


Learning outcomes - 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.
Learning Outcome - Reflection

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.

Course content
  • Definition phase
  • Risk identification
  • Risk evaluation
  • Risk control
  • Risk funding
  • Leadership and decision-making
  • Problem-solving
  • Crisis management prosess
Learning process and requirements to students

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

Software tools
No specified computer-based tools are required.

Higher Education Entrance Qualification

Required prerequisite knowledge


Exam categoryWeightInvigilationDurationGroupingComment exam
Exam category:
Form of assessment:
Written submission
Exam code:
FAK 26021
Grading scale:
Grading rules:
Internal and external examiner
Examination when next scheduled course
100No1 Semester(s)Group/Individual (1 - 3)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.
Exam category:Submission
Form of assessment:Written submission
Grouping (size):Group/Individual (1-3)
Duration:1 Semester(s)
Comment: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.
Exam code:FAK 26021
Grading scale:ECTS
Resit:Examination when next scheduled course
Exam organisation: 
Ordinary examination
Total weight: 
Student workload
Teaching on Campus
35 Hour(s)
Participation on the 5 seminar days
30 Hour(s)
2 mandatory assignments
Student's own work with learning resources
50 Hour(s)
Reading of curriculum
85 Hour(s)
Project paper
Sum workload: 

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.