HM2006 Advanced Risk Management 7,5 hp

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.

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

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

• Textbook to be decided
• Electronically distributed documents

När kurs inte längre ges har student möjlighet att examineras under ytterligare två läsår.

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

Examinator beslutar, baserat på rekommendation från KTH:s handläggare av stöd till studenter med funktionsnedsättning, om eventuell anpassad examination för studenter med dokumenterad, varaktig funktionsnedsättning.

Examinator får medge annan examinationsform vid omexamination av enstaka studenter.

• 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

Monica Bellgran

• Vid grupparbete har alla i gruppen ansvar för gruppens arbete.
• Vid examination ska varje student ärligt redovisa hjälp som erhållits och källor som använts.
• Vid muntlig examination ska varje student kunna redogöra för hela uppgiften och hela lösningen.