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: 
Executive - Course in Insurance
2023 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.

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.
General Competence

After completing the course, the student must be able to:

  • Identify and evaluate what risks an organization is exposed to in a systematic way.
  • Suggest measures to reduce identified risks.
  • Plan for monitoring the organization in normal operation and for dealing with possible crises

They should be able to reflect on the fact that the handling processes they carry out require the choice of different instruments / methods and that it is not irrelevant which instruments / methods are chosen.

Through ethical awareness and reflection, one should strive to choose the most sustainable.

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
Teaching and learning activities

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


In all BI Executive courses and programs, there is a mutual requirement for the student and the course responsible regarding the involvement of the student's experience in the planning and implementation of courses, modules and programmes. This means that the student has the right and duty to get involved with their own knowledge and practice relevance, through the active sharing of their relevant experience and knowledge.

Software tools
No specified computer-based tools are required.
Additional information

The course is accredited by Eficert (European Financial Certification Organisation).


Higher Education Entrance Qualification

Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.

Required prerequisite knowledge


Exam category: 
Form of assessment: 
Written submission
Group/Individual (1 - 3)
1 Semester(s)
The exam is a project assignment that can be solved individually or in groups of up to maximum 3 students. If used for Eficert the candidate must obtain at least grade C.
Exam code: 
FAK 26024
Grading scale: 
Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
Student workload
35 Hour(s)
Participation on the 5 seminar days
30 Hour(s)
2 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.