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, to successfully deliver projects, a proven and proactive approach is essential to project risk management. Uncertainty is inherent in every risk, and one of the primary objectives of project risk management is to minimize uncertainty 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.

Duration    5 Days

Target Audience

This Macskills Development Institute 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

Objectives

The training will enable participants to.

• 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.

Course Outline

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

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

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

Risk Response Plan Development

• Risk Prioritization
• Risk Response Strategy Guidelines
• Response Strategies for Threats & Opportunities
• Response Planning & Analysis
• Alternative Responses
• Risk Response Validation
• Contingency & Management Risk Reserves

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

Certification

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

Training Venue

• Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

Airport Pick Up and Accommodation

• Airport pick up and accommodation is arranged upon request.

Terms Of Payment

• Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent via email.