Risk Management Processes
VBRN50, 15 credits, A (Second Cycle)
Valid for: 2021/22
Faculty: Faculty of Engineering, LTH
Decided by: PLED BI/RH
Date of Decision: 2021-04-14
Compulsory for: RH4-rh
Language of instruction: The course will be given in Swedish
The overriding aim of the course is that, after completing the
course, the students will have an understanding of how risk
analysis, risk assessment, and risk reduction / control are
dependent on each other, how these activities can be performed by
various organizations, and how they can be communicated internally
and externally. The course is also aimed at providing the students
with a knowledge base concerning the different methods and
techniques applied in the risk management process for various types
of risk, as well as developing their ability to critically examine
those methods in the context of practical application. Finally, the
course is also aimed at providing the students with an ability to
apply methods for risk analysis, risk evaluation and risk
reduction/control with the goal of, as effectively as possible,
achieving a balance between risk levels, costs/resources and other
Knowledge and understanding
For a passing grade the student must
- be able to describe the most commonly used strategies to manage
risk, e.g. risk reduction, risk transfer, and present the basic
principles of these
- be able to describe the most commonly used methods available to
support decision-making regarding risks and the problems that are
experienced in this type of decision. In addition, the students
should be able to critically review the application of these
methods in the context of the risk management process.
- be able to describe the development of the field, "Supply Chain
Risk Management (SCRM)". In addition, the students will be able to
ponder and reflect on the practical application of SCRM within
private enterprise and in public operational situations.
- be able to describe tools and models for use in risk management
within large enterprises. In addition, the students will be able to
ponder and reflect on risk management within business and public
operations against the background of earlier knowledge within the
- be able to describe how risk management is carried out at
various levels in public administrations and what crisis- and
disaster management involves. In addition, the students shall be
able to ponder and reflect on the practical application of risk
management, as well as crisis and disaster management within public
Competences and skills
For a passing grade the student must
- be able to analyse and evaluate risk and crisis communication
processes between various actors, both private and public
organizations as well as the public.
- be able to defend his/her opinions regarding various issues
relating to the risk management process in private and public
- be able to apply methods for risk control and decision-making,
based on e.g. risk analyses, with the purpose of achieving a
balance between risk and other interests.
- be able to search for and apply information concerning the risk
management process published in scientific journals and
- be able to cooperate in group work and show ability for
Judgement and approach
For a passing grade the student must
- demonstrate a capacity to make assessments of the applicability
of various risk analysis methods for various types of
- demonstrate insight into the possibilities and limitations of
risk analysis and its role in private and public risk
- be able to review and evaluate obtained information.
- Introduction to the risk management process - this part of
the course introduced how risk analysis, risk evaluation and risk
reduction/control is related to each other. Different ways of
managing risk will also be introduced (such as risk reduction, risk
- Risk perception and decision-making - this part of the course
examines factors that affect people's and organisation's perception
of risk and decision-making concerning risk. It also examines
different methods that can be applied for risk acceptance and risk
control (e.g. rights-based criteria and cost-benefit
- Risk and crisis communication - this part of the course
focuses on the role of risk and crisis communication for risk
management as well as methods/factors for successful
- Risk management in organizations - this part of the course
focuses on supply chain risk management and strategic risk
- Economy and risk management - this part of the course focuses
- Applications of modern risk management in a complex society
- this part of the course focus on the application of risk
management in the areas: large companies, official organisations
and critical societal functions. Aspects such as strategies and
challenges for risk management as well as legal aspects are
Grading scale: TH - (U,3,4,5) - (Fail, Three, Four, Five)
Assessment: The examination consists of a written presentation of a Project, carried out in a group, based on a theme that is relevant to the course.
The examiner, in consultation with Disability Support Services, may deviate from the regular form of examination in order to provide a permanently disabled student with a form of examination equivalent to that of a student without a disability.
Code: 0117. Name: Individual Assignments.
Credits: 10. Grading scale: TH. Assessment: The examination consists of a number of assignments, on themes that are relevant for the course.
Code: 0217. Name: Project Assignment.
Credits: 5. Grading scale: UG. Assessment: The examination consits of a written presentation of a project work which is performed in groups on a theme that is relevant for the course. Contents: Focus is on application of methods and integration of the different parts of the risk management process.
Assumed prior knowledge: MAMN45 People, Technology, Organization and Risk Management (alternatively MAM090 People, Technology, Organization and Risk Management,) and MAMN35 Risk Analysis Methods for Health and Environment (alternatively VBR180 Risk Analysis Methods).
The number of participants is limited to: No
The course overlaps following course/s: EXTN60, VBR171
- O'Donnell, E.: Enterprise risk management: A systems-thinking framework for the event identification phase. 2005. International Journal of Accounting Information Systems, Vol. 6, No. 3, 2005, pp. 177-195.
- Kahneman, D., & Klein, G. : Conditions for intuitive expertise: a failure to disagree. 2009. Am Psychol, 64(6), 515-526.
- Johansen, I. L., & Rausand, M. : Risk metrics: Interpretation and choice. 2012. Paper presented at the IEEE International Conference on Industrial Engineering and Engineering Management (IEEM), Hong Kong.
- Fischhoff, B: Judgment and decision making. 2010. Wiley Interdiscip Rev Cogn Sci, 1(5), 724-735. doi:10.1002/wcs.65.
- Slovic, P. : Understanding Perceived Risk: 1978–2015. 2015. Environment: Science and Policy for Sustainable Development, 58(1), 25-29. doi:10.1080/00139157.2016.1112169.
- Coombs, T. : Crises Response in Ongoing Crises Communication. London: Sage, 2014. Pg. 129-138.
- Falkheimer J., Heide, M. & Larson L. : Konsten att hantera en kris i Kriskommunikation. Malmö: Liber, 2009. Pg. 83-97.
- Frandsen F. & Johansen, W. : Crisis Management (I) General Perspectives: From Anticipation to Resilience Perspectives in Organizational Crisis Communication. London: Sage, 2017. Pg. 52-62.
- Frandsen, F & Johansen W. : Crisis communication and the rethorical arena - a multivocal approach. 2007. Conference Papers -- International Communication Association. 2007 Annual Meeting.
- Hallahan, K. : Inactive publics: The forgotten publics in public relations. 2001. Public Relations Review, 26(4), 499-515.
- The Institute of Internal Auditors : The Three Lines of Defense in Effective Risk Management and Control. 2013.
- Saleh, J. H., Marais, K. B., Bakolas, E., & Cowlagi, R. V. : Highlights from the literature on accident causation and system safety: Review of major ideas, recent contributions, and challenges. 2010. Reliability Engineering & System Safety, 95(11), 1105-1116.
- Dekker, S., & Pruchnicki, S. : Drifting into failure: theorising the dynamics of disaster incubation. 2013. Theoretical Issues in Ergonomics Science, 15(6), 534-544.
- Grabowski, M., & Roberts, K. H. : Reliability seeking virtual organizations: Challenges for high reliability organizations and resilience engineering. 2016. Safety Science.
- Rasmussen, J. : Risk management in a dynamic society: a modelling problem. 1997. Safety Science, 27(2/3), 183-213.
- van Asselt, M. B. A., & Renn, O. : Risk governance. 2011. Journal of Risk Research, 14(4), 431-449.
- EUROCONTROL: A White Paper on Resilience Engineering for ATM. 2009. European Organisation for the Safety of Air Navigation (EUROCONTROL).
Contact and other information
Course coordinator: Universitetslektor Henrik Tehler, email@example.com
Further information: Group assignments require active participation. Each group member must individually be able to account for the content of the assignment. If a group member does not fulfill the demands of the group or ignores hers/his commitment, she/he can be reassigned to another group or get a fail result.