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Risk management - Master's Degree Programme (Master i teknologi/siviling.)

The risk management field embraces principles, models and methods for identifying, analyzing, describing, communicating and managing risk. Its results are applied in the business/private sector - e.g. the petroleum and process industries, banking/finance, ICT, infrastructure, food and health, cyber and public security - as well as in the public sector where the methods are used for health and safety assessments, city and regional planning, infrastructure and cyber security, etc.
The principal aim of the study program is to give the students the knowledge and basic thinking required to approach risk and uncertainty to support decision-making. Central topics covered are include: What is the meaning of risk? What is the meaning of uncertainty? How to express risk and uncertainty? How to give weight to uncertainties? How to analyze reliability and availability? How to understand the precautionary principle and how to apply it? How to determine acceptable risk? How to balance different concerns, such as health, safety, environmental, economical and security concerns? How to apply cost-benefit and cost effectiveness analyses? How to apply expected values in risk management?
In addition to these generic topics related to risk, the study program allows for specializing in particular application areas; see the descriptions of the program specializations below.
The target group is students who have completed a three-year bachelor degree in engineering, or equivalent. Students with a different technical background from universities and specialized university colleges (vitenskapelige høgskoler), and possibly working competence (realkompetanse) applicants are also welcome to apply.
Composition of the study program in risk management
The study program is organized at the Department of Industrial economics, Risk management and Planning. The study program comprises 120 study points (sp) in total, including 40sp mandatory common subjects, 30sp specialization subjects, 20sp elective subjects, and a 30sp master's thesis. The course work consists of lectures, project assignments, and mandatory and voluntary exercises.
The study program consists of four specializations: Risk Assessment and Management (AM), Offshore and Technical Safety (OT), Cyber Security (CS), and Reliability and Resilience Engineering (RE).
The specialization in Risk Assessment and Management gives a broad, generic and application-independent competence in risk assessment and risk management, where emphasis is placed on the general methodological basis. Risk assessment and management is being implemented in an increasing number of sectors and industries, requiring candidates with a strong generic methodological basis who can ensure appropriate implementation.
The specialization in Offshore and Technical Safety gives specialized competence in risk and safety related to offshore structures, systems and operations, in particular technical safety of oil and gas processing systems. A large number of such systems exist today and new ones are being built, and with a government stated objective that the Norwegian petroleum industry shall be world leading in terms of HSE (Health, Safety and Environment), there is a need for a continued supply of candidates with the specialized competence necessary to meet this objective.
The specialization in Cyber Security requires a Bachelor's degree in Data/ICT. This specialization prepares candidates for facilitating risk assessments of and developing risk management strategies for ICT systems, and seeing these assessments and the subsequent risk management in relation to the broader, integrated risk management in an organization. The goal is to assess and identify security problems in ICT and online systems to ensure secure information and communication technology. ICT systems are becoming more and more integrated with other critical societal functions and infrastructures, meaning that society is becoming more and more dependent on ICT systems and more vulnerable to failures of such systems. This necessitates candidates who possess the combination of a solid ICT system understanding and a strong methodological basis in terms of risk assessment and management.
The specialization in Reliability and Resilience Engineering gives specialized competence in the analysis of risk, reliability and resilience related to complex systems, including interconnected infrastructures such as power and water infrastructures. With an ever increasing dependence in society on technological systems, there is a need for candidates who can provide decisions support in terms of risk, reliability and resilience on the design and operation of such systems.
The subject RIS610 Selected topics in risk management is included as a specialization subject in all five specializations. This subject is project-based and the topics covered will differ between students depending on their chosen specialization.
We have a strong academic team with strong competence within risk assessment and risk management. The research activity is high, and we co-operate with recognized persons and groups in academic institutions and companies, both in Norway and abroad. This is a good basis to offer an academic strong study program for future work with risk management in the offshore industry as well as other industries.
The Faculty offers a list of recommended electives. The students themselves must check that they have the necessary basic knowledge to be able to tackle these courses. Other electives must be approved by the Department, but the students will have considerable freedom in putting together their own combinations depending on personal interests and qualities.
The master thesis may be prepared either at the faculty or in cooperation with industry. The department has good contacts with different companies in the region. In order to be write a master thesis, satisfactory progression must be demonstrated as cited in Regulations for Master's thesis.
UiS wishes to offer all its programs as planned, but courses still have to be subject to availability of resources and a minimum student enrolment. Also, the content and scope of the courses will necessarily have to change over time because of scientific and professional development, use of new technology and general social change.

Hva kan du bli

Employment opportunities and post-graduate education
Depending on the background you have, and on the profile you add to the program through selection of specialization and elective subjects, you can get many different jobs. In the industry and in public organizations, there is generally high demand for people who can analyze risk and reliability.

A completed master's degree with a minimum average grade of B and a minimum grade of B on the master thesis may qualify for admission to the PhD program in Risk Management and Societal Safety at the University of Stavanger.