Project Risk Management & Compliance

Project Risk Management & Compliance

 

Date & Location: (21-25/May) Kuala Lumpur – ( 17-21/Dec) Cairo


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Course Overview

Introduction:

The highlights of this course are:

  • Examine both the threats and opportunities facing your projects from both a top-down and bottom-up perspective using a proven six-step risk management process
  • Evaluate and respond to risk at the project as well as the task levels
  • Anticipate possible causes of cost and schedule overruns, together with poor quality of work. By identifying the warning signs to these as early as possible in the project timely corrective action can be taken to minimize or mitigate the impact

 

Program Objectives:

  • Get an overview of the Risk Management Process
  • Learn to identify risks that affect project quality, time & schedule, cost and scope
  • Apply useful techniques to identify, analyze, mitigate and monitor risks in the project life cycle
  • Learn how to create an effective risk monitoring plan and risk management strategies
  • Use a practical, six-step process to manage project risk
  • Develop a risk budget based on Expected Monetary Value (EMV)

 

Who Should Attend?

This course will mainly benefit to purchasing managers, senior buyers, project managers, civil engineers, construction managers, contractors, sub-contractors, site engineers, senior management, and government agencies, architects, construction professionals, and anyone responsible for purchasing at a senior level who seeks to enhance their skills further.

 

Program Outline:

DAY 1

Risk Management Framework and Planning

Introduction

  • Key definitions
  • Project Management Body Of Knowledge (PMBOK) – 6 risk management processes
  • Project risk management goal
  • Purpose of risk management
  • Benefits of risk management
  • Responsibilities in risk management
  • Integrating risk management into the project management process
  • Components of risk
  • Types of risk
  • Six steps of risk management
    • Plan the approach to risk management
    • Risk Identification
    • Risk Assessment & Quantification
    • Risk Response Plan Development
    • Risk management plan execution
    • Evaluating risk response results

Risk Planning (Step 1)

  • Plan the approach to risk management
  • Planning inputs, tools & outputs

DAY 2

Risk Identification Processes

Risk Identification (Step 2)

  • Identification inputs & tools
  • Identification guidelines
  • Risk identification techniques
  • Risk categories
  • Risk identification outputs

Review of Cost & Schedule Estimating in Relation to Risk

  • Cost estimating classes & types
  • Cost estimating methods
  • Accuracy, allowances, contingency & management reserve
  • Work Breakdown Structures (WBS)
  • Schedule diagramming – critical path method (CPM)
  • Resource management
  • Earned value method (EVM)
  • Baselining

DAY 3

Risk Assessment and Quantification Processes

Risk Assessment & Quantification (Step 3)

  • Risk analysis inputs
  • Risk analysis guidelines
  • Probability analysis
  • Impact analysis
  • Risk analysis approaches – qualitative & quantitative
  • Risk analysis tools & techniques
  • Statistical sums in risk analysis
  • Program Evaluation & Revue Technique (PERT)
  • Monte Carlo simulation
  • Decision trees
  • Project risk rating & prioritizing
  • Risk analysis outputs

DAY 4

Risk Response Plan Development

Risk Response Plan Development (Step 4)

  • Risk response development inputs, tools & techniques
  • Risk response strategy guidelines
  • Response strategies for threats
  • Response planning & network diagramming
  • Response analysis
  • Alternative responses
  • Reserves – contingency & management
  • Response planning outputs

DAY 5

Risk Response Control

  • Risk management plan execution (Step 5)
  • Risk response control tools
  • Risk response control guidelines
  • Risk strategy execution
  • Evaluating risk response results (Step 6)
  • Risk documentation