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Course topic:
Format availability:
In-Person
Duration:
5 Days
Introduction to the course
Some of the most prevalent risks on any project originate from the failure to effectively identify and analyze the day-to-day risks that occur during the delivery of all projects.
This Project Risk Management & Compliance training course addresses the specific nature of risks that occur during the design & execution phases of all projects. The training course will provide delegates with the knowledge and skills required to effectively identify and manage project risks through minimizing their levels of uncertainty and maximizing their control. This will, in turn, improve their ability to deliver projects on time, within budget, and with a clear health & safety record.
Due to the dynamic environments in which they exist, projects are exceptionally vulnerable to risk and, in order to successfully deliver projects, a proven and proactive approach is essential to project risk management. By definition, uncertainty is inherent in every risk, and one of the primary objectives of project risk management is to minimize uncertainty so as to improve the likelihood of achieving desired project outcomes. During this training course, delegates will learn to effectively identify, analyze, respond, and control all risks that may have either a negative or positive impact on project outcomes.
This Project Risk Management & Compliance training course will highlight:
- Key elements in risk management planning
- The importance accurate risk identification
- How to effectively describe and analyse risks
- The difference between opportunity and threat-based risks
- How to create effective risk response plans
Course details
This Project Risk Management & Compliance training course is designed to provide Project Managers, Team Leaders, Engineers, Risk Managers, and Project Support Members with the skills and knowledge to successfully manage risks throughout the project lifecycle. As such, delegates will:
- Learn how to accurately identify and describe project risks
- Develop skills in applying proven risk analysis methods
- Understand different project risk management techniques
- Be able to differentiate between opportunity and threat risks
- Develop techniques to define risks based on project context and risk boundaries
- Learn to distinguish between real and perceived risks
The Project Risk Management & Compliance training course methodology will incorporate a combination of theory and skill-based training components, applying hands-on exercises, facilitation of group discussions, practical case studies, and real-life examples.
The Project Risk Management & Compliance training course will provide direct organizational benefits through improved project risk management practices. By applying the methods learned and practiced during the training course, organizations will:
- Reduce time spent managing project risks
- Improve project execution productivity
- Increase risk management efficiency
- Protect project values through accurate risk identification and analysis
- Achieve project objectives through effective risk response planning and control
- Enhance project risk knowledge required for effective Enterprise Risk Management
Participants will develop additional and valuable project management skills, essential not only to project risk management, but to project management as a whole, including:
- Developing risk management planning skills
- Learning to effectively manage risks in a team environment
- Refining their risk identification skills
- Learning to balance the relationship between threat-based and opportunity-based risks
- Understanding how and when to apply qualitative and quantitative risk analysis techniques
- Developing the necessary skills required to effectively control risks
The training course is tailored for all personnel who are either involved in, or responsible for, the successful delivery of projects of all types and sizes.
This Project Risk Management & Compliance training course is suitable to a wide range of professionals but will greatly benefit:
- Project Managers
- Project Risk Managers
- Project Engineers
- Quality Assurance Managers
- Contract Managers
- Project Consultants
- Discipline Engineers
- Technical Assistants
Daily Agenda
DAY 1:
Risk Management Framework and Planning
- Key Definitions
- The PMBOK® Six Risk Management Processes
- Purpose & Benefits of Risk
- Responsibilities in Project Risk Management
- Integrating Risk Management into the Project Management Process
- Risk Management Planning
- Risk Planning Process
DAY 2:
Risk Identification Process
- The Effect of Project Macro-Environment on Risk
- The Effect of Project Complexity on Risk
- Risk Identification Techniques
- Managing Risk through Project Estimating
- Managing Risk through Earned Value Management
- Schedule Risk Management – Critical Path Method & PERT
DAY 3:
Risk Assessment Process
- Qualitative Risk Analysis
- Bow-Tie Risk Analysis Technique
- Probability/Impact Risk Matrix Technique
- Quantitative Risk Analysis
- Monte Carlo Simulation
- Decision Trees and Expected Monetary Value
- Managing Project Risks through Integrity Assurance
DAY 4:
Risk Response Plan Development
- Risk Prioritisation
- Risk Response Strategy Guidelines
- Response Strategies for Threats & Opportunities
- Response Planning & Analysis
- Alternative Responses
- Risk Response Validation
- Contingency & Management Risk Reserves
DAY 5:
Risk Response Control
- Resource Management
- Risk Control Guidelines
- Risk Control Inputs
- Risk Control Tools & Techniques
- Risk Control Outputs
- Risk Reporting & Documenting
- Course Summation & Work Session Review
Frequently Asked Questions
There are no prerequisites. Our courses are open to students of all backgrounds who are 18 years of age and older. All courses are conducted in English. Video lectures include English subtitles and the option to slow-down, pause, or replay lectures for better retention. Discussion boards are a critical component of each of our courses; therefore, we suggest students have a conversational knowledge of English when pursuing a Certificate of Completion. For any of the art writing courses, students need to be 100% proficient in written English.
You should have an up-to-date web browser such as: Chrome, Safari, Firefox, or Internet Explorer. For more detailed information, please see the guides for supported browsers and basic computer specifications. Our Online Courses can be accessed on a mobile or tablet device, although we strongly encourage you to have access to a desktop or laptop computer and reliable internet connection for certain course components. Former students have told us it is easiest to read discussion threads and complete written assignments on a laptop or desktop computer.
Registration is available on our website. Just follow these simple steps: Click the “Apply Now” button in the top right corner of your screen. Select “Online Courses.” Choose your course(s). You will be asked for basic contact information and your credit card payment. We require full payment at the time of registration and all tuition is billed in US dollars. Be sure to check with your bank or credit card company, as your financial institution may charge a foreign transaction fee.
Our classes are kept small, at no more than 30 students, to better facilitate and encourage personalized interaction with the instructor and fellow participants. Your classmates come from all over the globe and contribute their global perspectives and experience. Some are currently working within the arts while others are just beginning. All classmates share in their passion for the art world.
It is recommended that you begin your course promptly. If you do need to start the course a few days late, contact your instructor as soon as possible after the course has opened to discuss your options. Registration closes on the Friday after the course begins.
Enroll now
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Course customization available
Course customization available
This training course is available to be conducted at your own pace & at your own time. Request for a quotation now and our training advisor will contact you shortly
