Course Description:

An introduction to civil project risk management that enables a team to identify, classify and manage risk systematically for the duration of a project, taking full account of corporate aims in order to control the probability and mitigate the impact of an adverse risk event.

The overall aim of this course is to enable participants to plan, manage and control project risks. Moreover, participants will be able to develop a project risk management plan and identify civil project risks related to the project's triple constraints which are: scope, schedule and resources. The course also aims at assisting participants in qualifying and quantifying civil project risks and developing appropriate risk responses. In line with the above, participants will also design and calculate key performance indicators for monitoring and controlling civil project risks.

Who should attend?

Project risk managers, risk owners, project managers, members of project offices, project sponsors, functional managers, senior management and individuals interested in project risk management. This course is worth 30 Professional Development Units (PDUs).

How attendees will benefit?

After completion of the programme, delegates will be able to:

• Understand Risk Management and its preferred framework for the private and public sectors
• Human aspects of risk management.
• How to initiate project risk management; the planning and project specific impact scales
• Apply effective risk management tools and techniques for when an organization is under pressure
• Develop an effective stakeholder management plan for use in risks
• Identify measures that would improve their organizations' crisis management capabilities
• Recognize and appraise the risk
• Estimate the probability of loss due to the risk
• Risk responses; risk responses to threats and opportunities, secondary risks, post response assessment
• Select the optimum method of treating the risk
• Implement a plan to carry out the selected method

Course Content:

Risk Management Framework and Planning

• Key Definitions
• Project Management Body of Knowledge (PMBOK) - 6 Risk Management Processes
• Purpose & Benefits of Risk
• Responsibilities in Risk Management
• Integrating Risk Management into the Project Management Process
• Overview of Six Steps of Risk Management
• Plan the Approach to Risk Management
• Planning Inputs, Tools & Outputs

Risk Identification Processes

• Project Context & Stakeholders
• Project Estimating Techniques
• Defining Scope via Work Breakdown Structure (WBS)
• Identification Inputs & Tools
• Risk Identification Techniques & Categories
• Risk Identification Outputs

Risk Assessment and Quantification Processes

• Schedule Diagramming - Critical Path Method (CPM
• Resource Management
• Risk Analysis Approaches - Qualitative & Quantitative
• Bow-tie Semi Quantitative Analysis Tool
• Program Evaluation & Review Technique (PERT

Risk Response Plan Development

• Decision Trees
• Risk Prioritisation
• Risk Response Strategy Guidelines
• Response Strategies for Threats & Opportunities
• Response Planning & Analysis
• Response and Expected Monetary Value
• Alternative Responses
• Response Validation
• Reserves - Contingency & Management

Risk Response Control

• Risk Response Control Tools
• Risk Response Control Guidelines
• Risk Strategy Execution
• Evaluating Risk Response Results
• Risk Documentation
• Deliver Presentation
• Assess the availability of resources.