Operational Risk Analysis

The course will cover operational or dynamic risk analysis developed for the purpose of giving a more up to date picture of risk than traditional risk analysis can do. In the course, we will cover basic concepts such as how we can express risk in a context like this, different aspect of risk required to make decisions and the types of decisions that the analyses should support. Further, we cover methods used in operational risk analysis, including quantitative models, qualitative models and models based on risk indicators. The content of the course may to some extent be adapted to fit the profile of the students. The course is conducted every second year. The course will not be taught if there are less than three participants.

Knowledge: The candidates should have a deep knowledge of the topics covered by the course, know the state of the research, and be familiar with important developments regarding operational risk. Skills: The candidates shall be able to analyse operational risk with different methods. The candidates shall be able to, independently and critically, evaluate and challenge the state of the research within the area. They shall also be able to formulate new research challenges as a basis for research and development. The candidates shall further be able to present, use and develop knowledge in relation to their own work. General competence: The candidates shall be able to place their knowledge within a larger context, nationally and internationally, and be able to evaluate ethical issues related to practical application of the knowledge. They shall also be able to present and discuss problems related to the area.

There will be no traditional lectures, but a series of seminars during the semester where the students have an active role in presenting and discussing various topics related to the course. The students are further required to write a term paper (as a scientific paper) on an agreed subject. The paper will be presented in draft form to the other students and a final version will be submitted and presented. To pass the course a score of at least 70 percent is required.