Courses Finder :
Project Risk Management & Best Compliance Practices
course
Strategic Management
Course Overview
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 projects.
This Project Risk Management & Compliance training course addresses the specific nature of risks that occur during the design and execution phases of projects. The course provides delegates with the knowledge and skills required to identify and manage risks effectively by minimizing uncertainty and maximizing control. This will improve their ability to deliver projects on time, within budget, and with strong health & safety performance.
Due to the dynamic environments in which projects exist, they are exceptionally vulnerable to risk. To successfully deliver projects, a proactive and structured approach is essential. One of the key objectives of project risk management is to minimize uncertainty in order to improve the likelihood of achieving desired outcomes. Participants will learn how to identify, analyze, respond to, and control risks that may have either a negative or positive impact on project results.
This training course will highlight:
- Key elements in risk management planning
- The importance of accurate risk identification
- How to effectively describe and analyze risks
- The difference between opportunity and threat-based risks
- How to create effective risk response plans
Course Objectives
By the end of this training course, participants will be able to:
- Accurately identify and describe project risks
- Apply proven risk analysis methods
- Understand different project risk management techniques
- Differentiate between opportunity and threat-based risks
- Define risks based on project context and risk boundaries
- Distinguish between real and perceived risks
Course Audience
This course is designed for professionals involved in, or responsible for, the successful delivery of projects, including:
- Project Managers
- Project Risk Managers
- Project Engineers
- Quality Assurance Managers
- Contract Managers
- Project Consultants
- Discipline Engineers
- Technical Assistants
Course Methodology
The methodology combines theory with practical skill-based learning. Participants will engage in hands-on exercises, group discussions, case studies, and real-world examples to reinforce knowledge and develop practical application skills.
Course Outline
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 Project Management
- Risk Management Planning Process
Day 2: Risk Identification Process
- Impact of Macro-Environment on Project Risk
- Effect of Project Complexity on Risk
- Risk Identification Techniques
- Managing Risk through Estimating
- Managing Risk with Earned Value Management
- Schedule Risk Management – CPM & PERT
Day 3: Risk Assessment Process
- Qualitative Risk Analysis
- Bow-Tie Risk Analysis
- Probability/Impact Risk Matrix
- Quantitative Risk Analysis
- Monte Carlo Simulation
- Decision Trees and Expected Monetary Value
- Integrity Assurance in Risk Management
Day 4: Risk Response Plan Development
- Risk Prioritisation
- Response Strategy Guidelines
- Threat & Opportunity Strategies
- Response Planning and Analysis
- Alternative Responses
- Response Validation
- Contingency & Management Reserves
Day 5: Risk Response Control
- Resource Management in Risk Control
- Risk Control Guidelines
- Tools & Techniques for Risk Control
- Reporting & Documenting Risks
- Course Summation and Review