""
Language skills
required, minimum level of B2
Programme length
2 years.
Study mode
Face-to-face learning
Application status
International students:
Students with Icelandic or Nordic citizenship:
Overview

  • Would you like to learn the basic principles of project management?
  • Would you like a programme with strong connections to the business community?
  • Would you like to work in project management or other management positions?
  • Do you want a programme that is both theoretical and practical?

Students will learn the basic principles of project management. The programme is designed to meet the growing demand for people who have the expertise required to manage major projects.

Students will acquire the skills needed to take on various positions with responsibility for project management, in the private and public sectors. Graduates will have a broad base of knowledge that can be applied in many different areas of work and research.

Programme structure

The programme is 120 ECTS and is organised as two years of full-time study.

The programme is made up of:

  • Courses, 90 ECTS
  • Final project, 30 ECTS

The programme is designed to prepare students to manage challenging and complex projects.

Topics

Course topics include:

  • Decision making
  • Planning
  • Implementation
  • Follow up

Organisation of teaching

Students are expected to work independently from the start of the programme, to manage their own work and time and to meet all set deadlines.

Courses are taught in blocks of seven weeks. Two courses are taught during each block. Final exams are held in the eighth week.

This programme is taught in Icelandic but most textbooks are in English.

Main objectives

The programme aims to provide students with a thorough understanding of project management and both practical and research skills.

Other

Completing the programme allows you to apply for doctoral studies.

The requirements for admission are a BA, B.Ed or BS degree from university. As a general rule, applicants shall have completed their undergraduate studies with a first-class GPA (7.25 or above). Students are admitted to the programme based on their previous studies and work experience. Students who have not completed at least 36 ECTS in business administration or related field in their undergraduate studies shall, at the beginning of their studies, complete the preparatory course, VIÐ155M Introduction to Microeconomics and Corporate Finance, that course is not credited in the MS programme. Of the 36 ECTS no less than 24 ECTS shall be in the following subjects or comparable: Finance, Introduction to Financial Accounting, Microeconomics, Methodology, Introduction to Human Resource Management, Introduction to Management, Introduction to Project Management, Computer Use and Spreadsheet, Business Law.

120 ECTS credits have to be completed for the qualification including a thesis of at least 30 ECTS.

 

The following documents must accompany an application for this programme:
  • CV
  • Statement of purpose
  • Reference 1, Name and email
  • Reference 2, Name and email
  • Certified copies of diplomas and transcripts
  • Proof of English proficiency

Further information on supporting documents can be found here

Programme structure

Check below to see how the programme is structured.

This programme does not offer specialisations.

First year | Fall
Change Management (VIÐ190F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

This course will cover the key areas of change management, such as the implementation of change, employee reactions, key barriers to change, and the positive and negative forces that affect the change process. The theories and concepts that change management is based on will be discussed in detail as well as the key approaches and methods for managing change. The role of the leader, manager, and the middle manager in managing change as well as crises will be discussed. Organizational culture will be discussed and why it is an important element of the change process.

Language of instruction: Icelandic
Face-to-face learning
Course taught in period II
First year | Fall
Introduction to Microeconomics and Corporate Finance (VIÐ155M)
A mandatory (required) course for the programme
6 ECTS, credits
Course Description

This course provides an introduction at a master's level to the theory and practice of bussines. The aim is to prepare students for a variety of management tasks, both in the private and public sectors.

The course consists of five introductory modules:
Finance
Business law
Accounting
Macro economics
Micro economics 

Organisation

The course is offered twice a year, in August and in January and students should complete the coure in the first year of their master studies. Students that start the programme in the autumn should sit the course in August, but can postpone doing so until January. Those beginning in January should preferably take the course in January, but may postpone doing so until August.

The course opens on the 1st of each month and closes on the 31st. All course material will be available on the course website on Canvas on the 1st.

The course cannot be used for credits in the master's programmes.

Language of instruction: Icelandic
Online learning
Prerequisites
First year | Fall
Project Management (VIÐ172F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

The course covers both the management of individual projects and the management of projects in an organization. Both theoretical and practical aspects will be covered. Students will gain a good understanding of the elements of project work and project management in business operations and the ability to manage individual projects. Students will learn the structure of the program, progress, and termination of projects. Students will also learn to use software and technology for project management. Students are introduced to projects in an international environment and Agile ideology. The student will be an emphasis on putting on project management in Icelandic business environment and use of information technology.

Please note, students must log in and purchase the book Project Management, The Managerial Process on the McGraw-Hill website. Further information can be found on the course's Canvas page.

Language of instruction: Icelandic
Face-to-face learning
Course taught in period I
First year | Fall
HR Leadership and Communication (VIÐ182F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

In the foreground throughout the course is the role of the manager, at all levels of the hierarchy, its nature and its challenges. Human resource issues and communication are the focus area and connected to all of the course topics and assignments. The leadership role of the manager is examined; particularly in relation to general human resource management and the management of employees through reform projects and radical changes. Leadership is also examined in relation to successful teamwork and approaches to managing and solving conflicts and challenging human resource issues.

The main objective of the course is that the students gain knowledge of the meaning of the key concepts and a solid understanding of the theoretical principles, methods, and options that the manager can employ in order to successfully fulfil his/her role. Diverse teaching methods are used to encourage the interest, interaction, and participation of students.

Language of instruction: Icelandic
Face-to-face learning
Prerequisites
Course taught in period I
First year | Fall
Lean and Agile principles (VIÐ188F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

This course provides students a practical guide towards Lean and Agile principles, and the application of the tools and techniques within these improvement philosophies.

This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

Language of instruction: English
Face-to-face learning
Course taught in period II
First year | Spring 1
Performance measurement and management (VIÐ290F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

Performance management is a central part of every organisation and project. It helps to ensure our actions are aligned with our strategic priorities. This course will help students to connect the dots between strategic and operational levels in work settings, and how performance management philosophies and frameworks can be used by leaders and managers to ensure the achievement of our strategic objectives.

This course relies on case studies and in-class activities to take students as close as it is possible in a classroom setting to real-life scenarios where performance management can be used to support decision making towards achieving success.

 This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

Language of instruction: English
Face-to-face learning
Course taught in period IV
First year | Spring 1
Introduction to Microeconomics and Corporate Finance (VIÐ155M)
A mandatory (required) course for the programme
6 ECTS, credits
Course Description

This course provides an introduction at a master's level to the theory and practice of bussines. The aim is to prepare students for a variety of management tasks, both in the private and public sectors.

The course consists of five introductory modules:
Finance
Business law
Accounting
Macro economics
Micro economics 

Organisation

The course is offered twice a year, in August and in January and students should complete the coure in the first year of their master studies. Students that start the programme in the autumn should sit the course in August, but can postpone doing so until January. Those beginning in January should preferably take the course in January, but may postpone doing so until August.

The course opens on the 1st of each month and closes on the 31st. All course material will be available on the course website on Canvas on the 1st.

The course cannot be used for credits in the master's programmes.

Language of instruction: Icelandic
Online learning
Prerequisites
First year | Spring 1
Organizational project management and international projects (VIÐ277F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

The course emphasizes international projects and the management of project portfolios. Issues covered in Project management I/Project Management Methodology are covered in more depth and in relation to international projects and project portfolios. First, emphasis is put on the management of many projects at the same time, including project portfolio management, program management and the project management office. Second, emphasis is put on the management of international projects or project portfolios in international companies. The course emphasizes that students work together on projects and get to know project management in the Icelandic economy.

This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

Language of instruction: English
Face-to-face learning
Course taught in period III
First year | Spring 1
Leadership and future of organizations (VIÐ289F)
Free elective course within the programme
7,5 ECTS, credits
Course Description

The main objective of the course is to  introduce to students the rage of developments that will affect organizations in the future and the role of sustainability in future of business. Furthermore, students will develop good overview regarding how these new developments are interconnected within organizations and across markets.

Rapid changing environment surrounding organization requires to look at the present developments, but even more importantly, the future of organizations. Therefore in this course the most contemporary management phenomenon already present in today’s business world are addressed. This course is unique in its focus on the future of organizations, within sustainability context, presenting holistic view of the organization and its context. The curriculum is built on most currect scientific findings, practical examples and assignments.
The aim is to:

  • To introduce students to the most current developments in business environment.
  • To examine the effects of the current micro and macro developments in business and its effects for the future organizations.
  • To apply theoretical knowledge to an understanding of real-world processes through class discussion, research, and application essays.
  • To promote critical thinking about the interconnectedness of elements within organization and its context at mezzo and macro level.
  •  To provide insight regarding how theoretical lens can help us to prepare better for the future.
Language of instruction: English
Face-to-face learning
Course taught in period III
First year | Spring 1
Diversity and Inclusion in Organizations (VIÐ288F)
Free elective course within the programme
7,5 ECTS, credits
Course Description

This course offers students the opportunity to recognize the need to develop inclusive work environments that operate on equity principles as well as value, support and engage all employees. Students learn to identify social justice/exclusion issues related to nondominated culture cohorts associated with race, ethnicity, age, gender, religion, sexual orientation, disability, and other aspects of diversity in organizations and apply their knowledge to analyzing and implementing inclusion initiatives in organizations. Students are engaged in the study of recent scholarly research in the field in order to develop their critical thinking on topics such as identity, diverse teams, (un)conscious bias, and equality of opportunity in organizations and how they relate to the value of diversity in organizations.

The course is taught in English

Language of instruction: English
Face-to-face learning
Course taught in period IV
Second year | Fall
Qualitative research methods (VIÐ184F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

The goal of the course is to give students insight into qualitative research methods, and their use in gatherin and analysing data on the individual and organizational level. Stuents will be trained in defining a research problems and presenting them in a research question. Students will further plann and execute data gethering and analysing, as well as presenting the findings in a written report. Students will learn about the strenghts and weaknesses of qualitative research so as to be able to chose the best method to study a given problem.

Language of instruction: Icelandic
Face-to-face learning
Prerequisites
Course taught in period II
Second year | Fall
Internship (VIÐ0AFF)
Free elective course within the programme
7,5 ECTS, credits
Course Description

The objective of the internship program is to develop students’ skills and expand their network of professional relationships and contacts. The internship for graduate students is 7.5 ECTS which equals 200 hours within a company or an organization. Students complete work assignments under the guidance of specialists in public and private organizations. The tasks shall be relevant to the specialization of the student’s studies. Each student can only complete one internship position. Further stipulations regarding the internship are laid out in each particular internship contract and contract addendum.

Internships are advertised separately at the beginning of each semester. Further information can be found here.

Please send inquiries to vidskipti@hi.is

Language of instruction: Icelandic
The course is taught if the specified conditions are met
Prerequisites
Second year | Fall
Corporate Governance (VIÐ198F)
Free elective course within the programme
7,5 ECTS, credits
Course Description

The purpose of this course is to provide students with an in-depth understanding of corporate governance and how corporate governance influences corporate performance. More specifically students will learn to identify and analyze corporate governance problems, learn to assess how corporate governance shapes the behavior of the board and learn to analyze how the corporate governance structure of a particular company is likely to influence its performance. The following topics and concepts are covered: The course will introduce the students to corporate governance issues and teach them to analyze how different corporate governance mechanisms – like ownership and board structure, legal systems and incentives – contribute to the solution of agency problems and thereby influence corporate performance. Using this framework, the course will then study the impact of corporate governance on corporate performance depending on comany-specific factors. The course will enable students to undertake a corporate governance review of an individual company including an assessment of how ownership, board structure, managerial incentives and system characteristics influence company performance.

The course is taught in English.

Language of instruction: English
Face-to-face learning
Course taught in period II
Second year | Fall
Theoretical Foundations of Innovation and Entrepreneurship (VIÐ186F)
Free elective course within the programme
7,5 ECTS, credits
Course Description

The aim of the course is to give students an overview of the theoretical foundations of innovation and entrepreneurship and prepare them for further studies, both academic and applied.

The course will cover the most prominent theories and unresolved questions within the field; students will review the latest academic articles and learn about tools to analyze major innovation trends.

Language of instruction: Icelandic
Face-to-face learning
Prerequisites
Course taught in period II
Second year | Spring 1
Applied Statistics (VIÐ278F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

The goal of this course is to strengthen the statistics and methodology knowledge of the students to enable them to better understand research methods and research findings. State-of-the-art research will be reviewed and the statistics and methodology required to conduct this research will be discussed. Students will also conduct their own research project in preparation for analytical work in their professional life and their Master’s thesis.

Language of instruction: Icelandic
Face-to-face learning
Course taught in period IV
Second year | Spring 1
Internship (VIÐ0AFF)
Free elective course within the programme
7,5 ECTS, credits
Course Description

The objective of the internship program is to develop students’ skills and expand their network of professional relationships and contacts. The internship for graduate students is 7.5 ECTS. Students complete work assignments under the guidance of specialists in public and private organizations. The tasks shall be relevant to the specialization of the student’s studies.Each student can only complete one internship position.
Further stipulations regarding the internship are laid out in each particular internship contract and contract addendum.
Internships are advertised separately at the beginning of each semester. Further information can be found here.

Please send inquiries to vidskipti@hi.is

Language of instruction: Icelandic
The course is taught if the specified conditions are met
Prerequisites
Second year | Spring 1
Negotiation (VIÐ284F)
Free elective course within the programme
7,5 ECTS, credits
Course Description

This course covers negotiation, with a focus on negotiating skills, behavior in negotiation, and the legal aspects of contracts. The objective of the course is to prepare students, through active practice, to be effective in identifying opportunities for creating value, solving conflicts, conducting negotiations, designing deals and implementing them. The course is based on lectures, practical assignments and simulations. Lectures introduce theories and concepts in the field of negotiation, as well as the structure and common terms of contracts. Simulations allow students to participate in realistic negotiations that address common issues that arise in real-life business negotiations.

Language of instruction: Icelandic
Face-to-face learning
Course taught in period III
Second year | Year unspecified
MS Thesis (VST101L, VST101L, VST101L)
A mandatory (required) course for the programme
30/30/30 ECTS, credits
Course Description

The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

The thesis amounts to 30 credits and must be presented at a departmental seminar.

The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.

Language of instruction: Icelandic
Self-study
Part of the total project/thesis credits
Second year | Year unspecified
MS Thesis (VST101L, VST101L, VST101L)
A mandatory (required) course for the programme
30/30/30 ECTS, credits
Course Description

The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.
The thesis amounts to 30 credits and must be presented at a departmental seminar.
The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.

Language of instruction: Icelandic
Self-study
Part of the total project/thesis credits
Second year | Year unspecified
MS Thesis (VST101L, VST101L, VST101L)
A mandatory (required) course for the programme
30/30/30 ECTS, credits
Course Description

The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

The thesis amounts to 30 credits and must be presented at a departmental seminar.

The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.

Language of instruction: Icelandic
Self-study
Part of the total project/thesis credits
First year
  • Fall
  • VIÐ190F
    Change Management
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    This course will cover the key areas of change management, such as the implementation of change, employee reactions, key barriers to change, and the positive and negative forces that affect the change process. The theories and concepts that change management is based on will be discussed in detail as well as the key approaches and methods for managing change. The role of the leader, manager, and the middle manager in managing change as well as crises will be discussed. Organizational culture will be discussed and why it is an important element of the change process.

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • VIÐ155M
    Introduction to Microeconomics and Corporate Finance
    Mandatory (required) course
    6
    A mandatory (required) course for the programme
    6 ECTS, credits
    Course Description

    This course provides an introduction at a master's level to the theory and practice of bussines. The aim is to prepare students for a variety of management tasks, both in the private and public sectors.

    The course consists of five introductory modules:
    Finance
    Business law
    Accounting
    Macro economics
    Micro economics 

    Organisation

    The course is offered twice a year, in August and in January and students should complete the coure in the first year of their master studies. Students that start the programme in the autumn should sit the course in August, but can postpone doing so until January. Those beginning in January should preferably take the course in January, but may postpone doing so until August.

    The course opens on the 1st of each month and closes on the 31st. All course material will be available on the course website on Canvas on the 1st.

    The course cannot be used for credits in the master's programmes.

    Online learning
    Prerequisites
  • VIÐ172F
    Project Management
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The course covers both the management of individual projects and the management of projects in an organization. Both theoretical and practical aspects will be covered. Students will gain a good understanding of the elements of project work and project management in business operations and the ability to manage individual projects. Students will learn the structure of the program, progress, and termination of projects. Students will also learn to use software and technology for project management. Students are introduced to projects in an international environment and Agile ideology. The student will be an emphasis on putting on project management in Icelandic business environment and use of information technology.

    Please note, students must log in and purchase the book Project Management, The Managerial Process on the McGraw-Hill website. Further information can be found on the course's Canvas page.

    Face-to-face learning
    Prerequisites
    Course taught in period I
  • VIÐ182F
    HR Leadership and Communication
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    In the foreground throughout the course is the role of the manager, at all levels of the hierarchy, its nature and its challenges. Human resource issues and communication are the focus area and connected to all of the course topics and assignments. The leadership role of the manager is examined; particularly in relation to general human resource management and the management of employees through reform projects and radical changes. Leadership is also examined in relation to successful teamwork and approaches to managing and solving conflicts and challenging human resource issues.

    The main objective of the course is that the students gain knowledge of the meaning of the key concepts and a solid understanding of the theoretical principles, methods, and options that the manager can employ in order to successfully fulfil his/her role. Diverse teaching methods are used to encourage the interest, interaction, and participation of students.

    Face-to-face learning
    Prerequisites
    Course taught in period I
  • VIÐ188F
    Lean and Agile principles
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    This course provides students a practical guide towards Lean and Agile principles, and the application of the tools and techniques within these improvement philosophies.

    This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
    The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • Spring 2
  • VIÐ290F
    Performance measurement and management
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    Performance management is a central part of every organisation and project. It helps to ensure our actions are aligned with our strategic priorities. This course will help students to connect the dots between strategic and operational levels in work settings, and how performance management philosophies and frameworks can be used by leaders and managers to ensure the achievement of our strategic objectives.

    This course relies on case studies and in-class activities to take students as close as it is possible in a classroom setting to real-life scenarios where performance management can be used to support decision making towards achieving success.

     This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
    The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

    Face-to-face learning
    Prerequisites
    Course taught in period IV
  • VIÐ155M
    Introduction to Microeconomics and Corporate Finance
    Mandatory (required) course
    6
    A mandatory (required) course for the programme
    6 ECTS, credits
    Course Description

    This course provides an introduction at a master's level to the theory and practice of bussines. The aim is to prepare students for a variety of management tasks, both in the private and public sectors.

    The course consists of five introductory modules:
    Finance
    Business law
    Accounting
    Macro economics
    Micro economics 

    Organisation

    The course is offered twice a year, in August and in January and students should complete the coure in the first year of their master studies. Students that start the programme in the autumn should sit the course in August, but can postpone doing so until January. Those beginning in January should preferably take the course in January, but may postpone doing so until August.

    The course opens on the 1st of each month and closes on the 31st. All course material will be available on the course website on Canvas on the 1st.

    The course cannot be used for credits in the master's programmes.

    Online learning
    Prerequisites
  • VIÐ277F
    Organizational project management and international projects
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The course emphasizes international projects and the management of project portfolios. Issues covered in Project management I/Project Management Methodology are covered in more depth and in relation to international projects and project portfolios. First, emphasis is put on the management of many projects at the same time, including project portfolio management, program management and the project management office. Second, emphasis is put on the management of international projects or project portfolios in international companies. The course emphasizes that students work together on projects and get to know project management in the Icelandic economy.

    This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
    The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

    Face-to-face learning
    Prerequisites
    Course taught in period III
  • VIÐ289F
    Leadership and future of organizations
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    The main objective of the course is to  introduce to students the rage of developments that will affect organizations in the future and the role of sustainability in future of business. Furthermore, students will develop good overview regarding how these new developments are interconnected within organizations and across markets.

    Rapid changing environment surrounding organization requires to look at the present developments, but even more importantly, the future of organizations. Therefore in this course the most contemporary management phenomenon already present in today’s business world are addressed. This course is unique in its focus on the future of organizations, within sustainability context, presenting holistic view of the organization and its context. The curriculum is built on most currect scientific findings, practical examples and assignments.
    The aim is to:

    • To introduce students to the most current developments in business environment.
    • To examine the effects of the current micro and macro developments in business and its effects for the future organizations.
    • To apply theoretical knowledge to an understanding of real-world processes through class discussion, research, and application essays.
    • To promote critical thinking about the interconnectedness of elements within organization and its context at mezzo and macro level.
    •  To provide insight regarding how theoretical lens can help us to prepare better for the future.
    Face-to-face learning
    Prerequisites
    Course taught in period III
  • VIÐ288F
    Diversity and Inclusion in Organizations
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    This course offers students the opportunity to recognize the need to develop inclusive work environments that operate on equity principles as well as value, support and engage all employees. Students learn to identify social justice/exclusion issues related to nondominated culture cohorts associated with race, ethnicity, age, gender, religion, sexual orientation, disability, and other aspects of diversity in organizations and apply their knowledge to analyzing and implementing inclusion initiatives in organizations. Students are engaged in the study of recent scholarly research in the field in order to develop their critical thinking on topics such as identity, diverse teams, (un)conscious bias, and equality of opportunity in organizations and how they relate to the value of diversity in organizations.

    The course is taught in English

    Face-to-face learning
    Prerequisites
    Course taught in period IV
  • Fall
  • VIÐ184F
    Qualitative research methods
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The goal of the course is to give students insight into qualitative research methods, and their use in gatherin and analysing data on the individual and organizational level. Stuents will be trained in defining a research problems and presenting them in a research question. Students will further plann and execute data gethering and analysing, as well as presenting the findings in a written report. Students will learn about the strenghts and weaknesses of qualitative research so as to be able to chose the best method to study a given problem.

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • VIÐ0AFF
    Internship
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    The objective of the internship program is to develop students’ skills and expand their network of professional relationships and contacts. The internship for graduate students is 7.5 ECTS which equals 200 hours within a company or an organization. Students complete work assignments under the guidance of specialists in public and private organizations. The tasks shall be relevant to the specialization of the student’s studies. Each student can only complete one internship position. Further stipulations regarding the internship are laid out in each particular internship contract and contract addendum.

    Internships are advertised separately at the beginning of each semester. Further information can be found here.

    Please send inquiries to vidskipti@hi.is

    The course is taught if the specified conditions are met
    Prerequisites
  • VIÐ198F
    Corporate Governance
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    The purpose of this course is to provide students with an in-depth understanding of corporate governance and how corporate governance influences corporate performance. More specifically students will learn to identify and analyze corporate governance problems, learn to assess how corporate governance shapes the behavior of the board and learn to analyze how the corporate governance structure of a particular company is likely to influence its performance. The following topics and concepts are covered: The course will introduce the students to corporate governance issues and teach them to analyze how different corporate governance mechanisms – like ownership and board structure, legal systems and incentives – contribute to the solution of agency problems and thereby influence corporate performance. Using this framework, the course will then study the impact of corporate governance on corporate performance depending on comany-specific factors. The course will enable students to undertake a corporate governance review of an individual company including an assessment of how ownership, board structure, managerial incentives and system characteristics influence company performance.

    The course is taught in English.

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • VIÐ186F
    Theoretical Foundations of Innovation and Entrepreneurship
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    The aim of the course is to give students an overview of the theoretical foundations of innovation and entrepreneurship and prepare them for further studies, both academic and applied.

    The course will cover the most prominent theories and unresolved questions within the field; students will review the latest academic articles and learn about tools to analyze major innovation trends.

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • Spring 2
  • VIÐ278F
    Applied Statistics
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The goal of this course is to strengthen the statistics and methodology knowledge of the students to enable them to better understand research methods and research findings. State-of-the-art research will be reviewed and the statistics and methodology required to conduct this research will be discussed. Students will also conduct their own research project in preparation for analytical work in their professional life and their Master’s thesis.

    Face-to-face learning
    Prerequisites
    Course taught in period IV
  • VIÐ0AFF
    Internship
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    The objective of the internship program is to develop students’ skills and expand their network of professional relationships and contacts. The internship for graduate students is 7.5 ECTS. Students complete work assignments under the guidance of specialists in public and private organizations. The tasks shall be relevant to the specialization of the student’s studies.Each student can only complete one internship position.
    Further stipulations regarding the internship are laid out in each particular internship contract and contract addendum.
    Internships are advertised separately at the beginning of each semester. Further information can be found here.

    Please send inquiries to vidskipti@hi.is

    The course is taught if the specified conditions are met
    Prerequisites
  • VIÐ284F
    Negotiation
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    This course covers negotiation, with a focus on negotiating skills, behavior in negotiation, and the legal aspects of contracts. The objective of the course is to prepare students, through active practice, to be effective in identifying opportunities for creating value, solving conflicts, conducting negotiations, designing deals and implementing them. The course is based on lectures, practical assignments and simulations. Lectures introduce theories and concepts in the field of negotiation, as well as the structure and common terms of contracts. Simulations allow students to participate in realistic negotiations that address common issues that arise in real-life business negotiations.

    Face-to-face learning
    Prerequisites
    Course taught in period III
  • Year unspecified
  • VST101L, VST101L, VST101L
    MS Thesis
    Mandatory (required) course
    30/30/30
    A mandatory (required) course for the programme
    30/30/30 ECTS, credits
    Course Description

    The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

    The thesis amounts to 30 credits and must be presented at a departmental seminar.

    The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.

    Self-study
    Prerequisites
    Part of the total project/thesis credits
  • VST101L, VST101L, VST101L
    MS Thesis
    Mandatory (required) course
    30/30/30
    A mandatory (required) course for the programme
    30/30/30 ECTS, credits
    Course Description

    The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.
    The thesis amounts to 30 credits and must be presented at a departmental seminar.
    The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.

    Self-study
    Prerequisites
    Part of the total project/thesis credits
  • VST101L, VST101L, VST101L
    MS Thesis
    Mandatory (required) course
    30/30/30
    A mandatory (required) course for the programme
    30/30/30 ECTS, credits
    Course Description

    The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

    The thesis amounts to 30 credits and must be presented at a departmental seminar.

    The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.

    Self-study
    Prerequisites
    Part of the total project/thesis credits
Second year
  • Fall
  • VIÐ190F
    Change Management
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    This course will cover the key areas of change management, such as the implementation of change, employee reactions, key barriers to change, and the positive and negative forces that affect the change process. The theories and concepts that change management is based on will be discussed in detail as well as the key approaches and methods for managing change. The role of the leader, manager, and the middle manager in managing change as well as crises will be discussed. Organizational culture will be discussed and why it is an important element of the change process.

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • VIÐ155M
    Introduction to Microeconomics and Corporate Finance
    Mandatory (required) course
    6
    A mandatory (required) course for the programme
    6 ECTS, credits
    Course Description

    This course provides an introduction at a master's level to the theory and practice of bussines. The aim is to prepare students for a variety of management tasks, both in the private and public sectors.

    The course consists of five introductory modules:
    Finance
    Business law
    Accounting
    Macro economics
    Micro economics 

    Organisation

    The course is offered twice a year, in August and in January and students should complete the coure in the first year of their master studies. Students that start the programme in the autumn should sit the course in August, but can postpone doing so until January. Those beginning in January should preferably take the course in January, but may postpone doing so until August.

    The course opens on the 1st of each month and closes on the 31st. All course material will be available on the course website on Canvas on the 1st.

    The course cannot be used for credits in the master's programmes.

    Online learning
    Prerequisites
  • VIÐ172F
    Project Management
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The course covers both the management of individual projects and the management of projects in an organization. Both theoretical and practical aspects will be covered. Students will gain a good understanding of the elements of project work and project management in business operations and the ability to manage individual projects. Students will learn the structure of the program, progress, and termination of projects. Students will also learn to use software and technology for project management. Students are introduced to projects in an international environment and Agile ideology. The student will be an emphasis on putting on project management in Icelandic business environment and use of information technology.

    Please note, students must log in and purchase the book Project Management, The Managerial Process on the McGraw-Hill website. Further information can be found on the course's Canvas page.

    Face-to-face learning
    Prerequisites
    Course taught in period I
  • VIÐ182F
    HR Leadership and Communication
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    In the foreground throughout the course is the role of the manager, at all levels of the hierarchy, its nature and its challenges. Human resource issues and communication are the focus area and connected to all of the course topics and assignments. The leadership role of the manager is examined; particularly in relation to general human resource management and the management of employees through reform projects and radical changes. Leadership is also examined in relation to successful teamwork and approaches to managing and solving conflicts and challenging human resource issues.

    The main objective of the course is that the students gain knowledge of the meaning of the key concepts and a solid understanding of the theoretical principles, methods, and options that the manager can employ in order to successfully fulfil his/her role. Diverse teaching methods are used to encourage the interest, interaction, and participation of students.

    Face-to-face learning
    Prerequisites
    Course taught in period I
  • VIÐ188F
    Lean and Agile principles
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    This course provides students a practical guide towards Lean and Agile principles, and the application of the tools and techniques within these improvement philosophies.

    This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
    The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • Spring 2
  • VIÐ290F
    Performance measurement and management
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    Performance management is a central part of every organisation and project. It helps to ensure our actions are aligned with our strategic priorities. This course will help students to connect the dots between strategic and operational levels in work settings, and how performance management philosophies and frameworks can be used by leaders and managers to ensure the achievement of our strategic objectives.

    This course relies on case studies and in-class activities to take students as close as it is possible in a classroom setting to real-life scenarios where performance management can be used to support decision making towards achieving success.

     This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
    The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

    Face-to-face learning
    Prerequisites
    Course taught in period IV
  • VIÐ155M
    Introduction to Microeconomics and Corporate Finance
    Mandatory (required) course
    6
    A mandatory (required) course for the programme
    6 ECTS, credits
    Course Description

    This course provides an introduction at a master's level to the theory and practice of bussines. The aim is to prepare students for a variety of management tasks, both in the private and public sectors.

    The course consists of five introductory modules:
    Finance
    Business law
    Accounting
    Macro economics
    Micro economics 

    Organisation

    The course is offered twice a year, in August and in January and students should complete the coure in the first year of their master studies. Students that start the programme in the autumn should sit the course in August, but can postpone doing so until January. Those beginning in January should preferably take the course in January, but may postpone doing so until August.

    The course opens on the 1st of each month and closes on the 31st. All course material will be available on the course website on Canvas on the 1st.

    The course cannot be used for credits in the master's programmes.

    Online learning
    Prerequisites
  • VIÐ277F
    Organizational project management and international projects
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The course emphasizes international projects and the management of project portfolios. Issues covered in Project management I/Project Management Methodology are covered in more depth and in relation to international projects and project portfolios. First, emphasis is put on the management of many projects at the same time, including project portfolio management, program management and the project management office. Second, emphasis is put on the management of international projects or project portfolios in international companies. The course emphasizes that students work together on projects and get to know project management in the Icelandic economy.

    This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
    The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

    Face-to-face learning
    Prerequisites
    Course taught in period III
  • VIÐ289F
    Leadership and future of organizations
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    The main objective of the course is to  introduce to students the rage of developments that will affect organizations in the future and the role of sustainability in future of business. Furthermore, students will develop good overview regarding how these new developments are interconnected within organizations and across markets.

    Rapid changing environment surrounding organization requires to look at the present developments, but even more importantly, the future of organizations. Therefore in this course the most contemporary management phenomenon already present in today’s business world are addressed. This course is unique in its focus on the future of organizations, within sustainability context, presenting holistic view of the organization and its context. The curriculum is built on most currect scientific findings, practical examples and assignments.
    The aim is to:

    • To introduce students to the most current developments in business environment.
    • To examine the effects of the current micro and macro developments in business and its effects for the future organizations.
    • To apply theoretical knowledge to an understanding of real-world processes through class discussion, research, and application essays.
    • To promote critical thinking about the interconnectedness of elements within organization and its context at mezzo and macro level.
    •  To provide insight regarding how theoretical lens can help us to prepare better for the future.
    Face-to-face learning
    Prerequisites
    Course taught in period III
  • VIÐ288F
    Diversity and Inclusion in Organizations
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    This course offers students the opportunity to recognize the need to develop inclusive work environments that operate on equity principles as well as value, support and engage all employees. Students learn to identify social justice/exclusion issues related to nondominated culture cohorts associated with race, ethnicity, age, gender, religion, sexual orientation, disability, and other aspects of diversity in organizations and apply their knowledge to analyzing and implementing inclusion initiatives in organizations. Students are engaged in the study of recent scholarly research in the field in order to develop their critical thinking on topics such as identity, diverse teams, (un)conscious bias, and equality of opportunity in organizations and how they relate to the value of diversity in organizations.

    The course is taught in English

    Face-to-face learning
    Prerequisites
    Course taught in period IV
  • Fall
  • VIÐ184F
    Qualitative research methods
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The goal of the course is to give students insight into qualitative research methods, and their use in gatherin and analysing data on the individual and organizational level. Stuents will be trained in defining a research problems and presenting them in a research question. Students will further plann and execute data gethering and analysing, as well as presenting the findings in a written report. Students will learn about the strenghts and weaknesses of qualitative research so as to be able to chose the best method to study a given problem.

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • VIÐ0AFF
    Internship
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    The objective of the internship program is to develop students’ skills and expand their network of professional relationships and contacts. The internship for graduate students is 7.5 ECTS which equals 200 hours within a company or an organization. Students complete work assignments under the guidance of specialists in public and private organizations. The tasks shall be relevant to the specialization of the student’s studies. Each student can only complete one internship position. Further stipulations regarding the internship are laid out in each particular internship contract and contract addendum.

    Internships are advertised separately at the beginning of each semester. Further information can be found here.

    Please send inquiries to vidskipti@hi.is

    The course is taught if the specified conditions are met
    Prerequisites
  • VIÐ198F
    Corporate Governance
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    The purpose of this course is to provide students with an in-depth understanding of corporate governance and how corporate governance influences corporate performance. More specifically students will learn to identify and analyze corporate governance problems, learn to assess how corporate governance shapes the behavior of the board and learn to analyze how the corporate governance structure of a particular company is likely to influence its performance. The following topics and concepts are covered: The course will introduce the students to corporate governance issues and teach them to analyze how different corporate governance mechanisms – like ownership and board structure, legal systems and incentives – contribute to the solution of agency problems and thereby influence corporate performance. Using this framework, the course will then study the impact of corporate governance on corporate performance depending on comany-specific factors. The course will enable students to undertake a corporate governance review of an individual company including an assessment of how ownership, board structure, managerial incentives and system characteristics influence company performance.

    The course is taught in English.

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • VIÐ186F
    Theoretical Foundations of Innovation and Entrepreneurship
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    The aim of the course is to give students an overview of the theoretical foundations of innovation and entrepreneurship and prepare them for further studies, both academic and applied.

    The course will cover the most prominent theories and unresolved questions within the field; students will review the latest academic articles and learn about tools to analyze major innovation trends.

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • Spring 2
  • VIÐ278F
    Applied Statistics
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The goal of this course is to strengthen the statistics and methodology knowledge of the students to enable them to better understand research methods and research findings. State-of-the-art research will be reviewed and the statistics and methodology required to conduct this research will be discussed. Students will also conduct their own research project in preparation for analytical work in their professional life and their Master’s thesis.

    Face-to-face learning
    Prerequisites
    Course taught in period IV
  • VIÐ0AFF
    Internship
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    The objective of the internship program is to develop students’ skills and expand their network of professional relationships and contacts. The internship for graduate students is 7.5 ECTS. Students complete work assignments under the guidance of specialists in public and private organizations. The tasks shall be relevant to the specialization of the student’s studies.Each student can only complete one internship position.
    Further stipulations regarding the internship are laid out in each particular internship contract and contract addendum.
    Internships are advertised separately at the beginning of each semester. Further information can be found here.

    Please send inquiries to vidskipti@hi.is

    The course is taught if the specified conditions are met
    Prerequisites
  • VIÐ284F
    Negotiation
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    This course covers negotiation, with a focus on negotiating skills, behavior in negotiation, and the legal aspects of contracts. The objective of the course is to prepare students, through active practice, to be effective in identifying opportunities for creating value, solving conflicts, conducting negotiations, designing deals and implementing them. The course is based on lectures, practical assignments and simulations. Lectures introduce theories and concepts in the field of negotiation, as well as the structure and common terms of contracts. Simulations allow students to participate in realistic negotiations that address common issues that arise in real-life business negotiations.

    Face-to-face learning
    Prerequisites
    Course taught in period III
  • Year unspecified
  • VST101L, VST101L, VST101L
    MS Thesis
    Mandatory (required) course
    30/30/30
    A mandatory (required) course for the programme
    30/30/30 ECTS, credits
    Course Description

    The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

    The thesis amounts to 30 credits and must be presented at a departmental seminar.

    The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.

    Self-study
    Prerequisites
    Part of the total project/thesis credits
  • VST101L, VST101L, VST101L
    MS Thesis
    Mandatory (required) course
    30/30/30
    A mandatory (required) course for the programme
    30/30/30 ECTS, credits
    Course Description

    The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.
    The thesis amounts to 30 credits and must be presented at a departmental seminar.
    The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.

    Self-study
    Prerequisites
    Part of the total project/thesis credits
  • VST101L, VST101L, VST101L
    MS Thesis
    Mandatory (required) course
    30/30/30
    A mandatory (required) course for the programme
    30/30/30 ECTS, credits
    Course Description

    The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

    The thesis amounts to 30 credits and must be presented at a departmental seminar.

    The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.

    Self-study
    Prerequisites
    Part of the total project/thesis credits

The timetable shown below is for the current academic year and is FOR REFERENCE ONLY.

Changes may occur for the autumn semester in August and September and for the spring semester in December and January. You will find your final timetable in Ugla when the studies start.

Note! This timetable is not suitable for planning your work schedule if you are a part-time employee.




Additional information

The University of Iceland collaborates with over 400 universities worldwide. This provides a unique opportunity to pursue part of your studies at an international university thus gaining added experience and fresh insight into your field of study.

Students generally have the opportunity to join an exchange programme, internship, or summer courses. However, exchanges are always subject to faculty approval.

Students have the opportunity to have courses evaluated as part of their studies at the University of Iceland, so their stay does not have to affect the duration of their studies.

Graduates are well equipped to take on managing roles with responsibilities and tasks related to project management, both in the private and public sectors.

  • MAESTRO is the organisation for Master's students at the University of Iceland, Faculty of Business Administration and Faculty of Economics.
  • The role and purpose of MAESTRO is to advocate for members' interests and make their time at UI more enjoyable and productive. MAESTRO provides students with useful information, maintains a good working relationship with the University and faculties, as well as encouraging students to socialise together and build connections.
  • MAESTRO page on Facebook

More about the UI student's social life.

Student´s comments
Portrait photo of Linda Björk Hávarðardóttir
Studying project management provided me with valuable tools and self-awareness as a manager. The programme's versatility and variety of courses are beneficial in both professional and personal contexts.
Portrait photo of Margrét Lúthersdóttir
Project management is practical with a strong theoretical base, useful for both professional and personal projects. The programme connects well with industry through presentations and field trips, offering diverse career opportunities. It has greatly benefited my work as a project manager.
Cecilie Gaihede
With a background in humanities, I chose project management to enhance my job prospects. The course "Introduction to Management" allowed me to enter the Master's programme in the Business School, which was a turning point. I learned a lot about myself and working with others. The teaching was dedicated, varied, and enjoyable. The programme required full effort and preparation, but the tools and methodologies I learned are practical and have helped me solve complex tasks efficiently. The programme significantly aided my job search, leading to my dream job.
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The School office offers support to students and lecturers, providing guidance, counselling, and assistance with various matters. 

You are welcome to drop by at the office in Gimli or you can book an online meeting in Teams with the staff.

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