Risk Management (5 cr)

Evaluation scale

H-5

Content scheduling

General risk management terms and definitions
- General risk management process
- Management of legal risks (e.g. corporate sustainability due diligence)
- Project risk evaluation and risk plans
- Applicable risk management standars (e.g. SFS-EN14971)
- Selection of risk evaluation tools and methods

Online lectures:

The student must attend the start of the course, where the teacher will visit the student's
the information relevant to the completion of the course.

18.09.2025 12.30 - 16.00 (start of the course)
09.10.2025 12.30 - 16.00
07.11.2025 12.30 - 16.00
04.12.2025 09.00 - 12.00

Objective

After completing the course, the student is able to:
- describe the general risk management process
- identify, evaluate and analyze the risks in the context of quality management at his/her own field
- identify, evaluate and analyze product development risks and/or process risks
- identify, evaluate and analyze project risks
- manage legal risks
- select applicable risk management methods for his/her own field

Content

- General risk management terms and definitions
- General risk management process
- Management of legal risks (e.g. corporate sustainability due diligence)
- Project risk evaluation and risk plans
- Applicable risk management standars (e.g. SFS-EN14971)
- Selection of risk evaluation tools and methods

Materials

Suggested article list in ItsLearning,
Industry Specific Risk Management Standards
and other materials provided by the lecturers.

Teaching methods

Course is 100% online and instruction language is English, but the final output (= report) can be done in Finnish. If all participants are Finnish-speaking, kick-off and discussions can also be held in Finnish.

Pre-assignments will be opened for you min 1 week before the meeting.
Mainly independent & self-directive learning
Collaborative asynchronous discussions with other students on discussion forums

Exam schedules

No exams.

Pedagogic approaches and sustainable development

Innovation pedagogy, flipped learning

The course takes into account the principles of sustainable development from an economic, environmental and social perspective, thus promoting responsible and sustainable business practices.

Completion alternatives

None.

Student workload

The total average student work is about 135 h. Webinars cover about 16h, all remaining in individual learning, and assignment work including student group collaboration

Group Learning task1: Exploring Standards and Practical Risk Management Techniques 36 h
Group Learning task 2: Applying Risk Standards in Your Field 36 h
Individual learning task: Learning diary 30 h
Individual learning task:Integrated Risk Management Proficiency Assessment 5 h and 2 self-paced tests related to presented group works on itsLearning. 17 h

Learning tasks must be returned by the due date. All assignments must be returned by the end of the course, unless otherwise agreed with the teacher before the end of the course. Any re-submission of a rejected assignment will be made according to the instructions and timetable given by the teacher.

Evaluation methods and criteria

Grading of the course is done as follows:
Terminology multiple choice test 20 %
Participation in contact lessons 10 %
Group work 2 report and presentation 30 %
Group work 1 pass/fail
self-paced test related to presented group works on iIs learning pass/fail
Personal Learning Diary 40 %

The course can be approved when all the assignments are passed at least with the minimum grade.
In addition to the knowledge base, the reporting assessment will focus on the knowledge of academic conventions (such as writing style and tone, text structure, correct citation technique including in-text citations and bibliography), depth of coverage.

Returning assignments after the specified deadline (late) may have a negative impact on the grade of the assignment.

Artificial intelligence can be used in the creation of outputs, but the student
must clearly report its use. Failure to disclose the use of AI will be interpreted as
fraud. The use of AI may affect the assessment.

Failed (0)

Quantity:
Assignments are not completed to an acceptable level.
Quality:
The minimum learning objectives are not met (see course description),
There is a lack of knowledge of academic conventions.

Assessment criteria, satisfactory (1-2)

Quantity:
Research, thinking, communication and reflection are acceptable
Quality:
Appear to grasp theory and have made a start in showing its applicability.
Knowledge of academic conventions is inadequate.

Assessment criteria, good (3-4)

Quantity:
Research, thinking, communication and reflection are good.
Quality:
General understanding of theory and application in real-life context
Knowledge of academic conventions is good, although there may be systematic minor errors.

Assessment criteria, excellent (5)

Quantity:
Mastery of theory and penetrating insights in real-life context
Quality:
Outstanding research, thinking, communication and reflection
Knowledge of academic conventions is excellent.

Further information

ItsLearning