TPK5115 - Risk Management in Projects


Examination arrangement

Examination arrangement: Portfolio assessment
Grade: Letters

Evaluation form Weighting Duration Examination aids Grade deviation
Semester assignment 30/100 1 semesters
Home examination 70/100 4 hours

Course content

Terminology related to risk and uncertainty in projects. Main elements of risk management to deal with risk and uncertainty in projects. Review of central practical methods for identification and analysis of risk and uncertainty. Quantitative modelling of schedule and time in project. Decision theory. Cost analysis in a life time perspective. Statistical methods for parameter estimation. Use of expert judgement for assessment of parameters. Case studies related to turnarounds.

Learning outcome

Knowledge: Basic insight into the theoretical foundation risk management in projects.

Skills: Be able to perform practical risk analysis for identification, structuring and modelling risk. Be able to apply the models in the various trade-off situations related to risk. Be able to assess model parameters used in project risk management.

General competence: Understand the importance of risk management in a project management setting.

Learning methods and activities

Lectures, exercises and project work. The lectures and exercises are given in English when students who do not speak Norwegian take the course. If the teaching is given in English the examination papers will be given in English only. Students are free to choose Norwegian or English for written assessments.

Compulsory assignments

  • Exercises

Further on evaluation

Portfolio assessment is the basis for the grade in the course. The portfolio includes a semester paper counting 30 % and a written exam counting 70 %. The results for the parts are given in %-scores, while the entire portfolio is assigned a letter grade according to the grading scale using percentage points.
Admission to taking exam requires exercises to have been approved.
Mandatory work from previous semester can be accepted by the Department by re-take of an examination if there haven't been any significant changes later.
By a re-take of an examination all assessments during the course, that counts in the final grade, have to be re-taken.
If there is a re-sit examination, the examination form may be changed from written to oral.

Specific conditions

Exam registration requires that class registration is approved in the same semester. Compulsory activities from previous semester may be approved by the department.

Course materials

Course compendium to be downloaded from Blackboard. The course has a public home page.

Credit reductions

Course code Reduction From To
TPK5110 3.7 01.09.2010
More on the course

Version: 1
Credits:  7.5 SP
Study level: Second degree level


Term no.: 1
Teaching semester:  AUTUMN 2020

No.of lecture hours: 3
Lab hours: 2
No.of specialization hours: 7

Language of instruction: English

Location: Trondheim

Subject area(s)
  • Safety, Reliability and Maintenance
  • Project Quality Management
  • Production Management
  • Risk Analysis
Contact information
Course coordinator: Lecturer(s):

Department with academic responsibility
Department of Mechanical and Industrial Engineering



Examination arrangement: Portfolio assessment

Term Status code Evaluation form Weighting Examination aids Date Time Digital exam Room *
Autumn ORD Semester assignment 30/100
Room Building Number of candidates
Summer UTS Semester assignment 30/100
Room Building Number of candidates
Autumn ORD Home examination 70/100

Release 2020-12-14

Submission 2020-12-14

Release 09:00

Submission 13:00

Room Building Number of candidates
Summer UTS Home examination 70/100
Room Building Number of candidates
  • * The location (room) for a written examination is published 3 days before examination date. If more than one room is listed, you will find your room at Studentweb.

For more information regarding registration for examination and examination procedures, see "Innsida - Exams"

More on examinations at NTNU