Course content

The course is given every second year. Next time will be spring 2025. Definition and discussion of the risk concept. Discussion of risk modelling and risk analysis in various sectors of industry. Definition and discussion of the concepts risk influencing factor and risk indicator. Description of the connection between risk indicators, risk influencing factors and the risk level by using an influence diagram. Quantification of risk influence by using different analytical methods. Analysis of historical data and the use of expert judgements to assess the parameters to apply in the risk modelling. Methods for analysing risk of integrated operations (IO). Introduction of IO is expected to result in new work processes, new technology etc which both requires development of risk analysis methods, but which also will give insight to be transferred to other sectors. The course also discusses various approaches to understand hazards and vulnerabilities with elements from complexity analysis and resilience engineering.

Learning outcome

Knowledge: By taking this subject, the student will: (i) become familiar with how to carry out a quantitative risk analysis in the various sectors of industry, (ii) understand how the risk may be surveyed in the operational phase, (iii) acquire insight into how risk indicators may be defined and used, (iv) get insight in how risk influence may be modelled and quantified, (v) get an overview of how risk aspects in relation to integrated operations may be included in the risk analysis, and (vi) get insight into various approaches for understanding hazards and vulnerabilities.

Skills: Use of computerized tools for risk quantification. Development of own computerized tools for risk quantification.

General competence: The students shall obtain an understanding of how to approach problems related to modelling influence of important factors in risk analysis.

Learning methods and activities

Lectures as part of seminars, self studies and individual coursework.

Further on evaluation

Lectures as part of seminars, self studies and individual coursework. Assessment is a paper. The paper is presented at the last seminar, and the participants will afterwards deliver the final paper for assessment according to the agreed deadline.

Recommended previous knowledge

Knowledge comparable to the subject TPK4120 Safety and Reliability Engineering.

Required previous knowledge

All students taking this course must be enrolled in a ph.d program at NTNU or a different university.

Course materials

Course compendium, selected research reports and papers from journals and conferences (will be announced at the start of the course).

Credit reductions