Course Duration

16 hours, 2-day training workshop

Delivery

Face to face training or online training

Course Inclusive

Training materials & certificate of completion

Course Description

A number of projects fail during execution because of risks that are not considered during the planning stage. Whether it is a case of poor planning or poor execution, the practice of conducting risk management in construction projects is not commonly exercised because of less or no knowledge of its processes, but the impact is enormously significant.

This course is designed to provide a well-defined approach to identifying, assessing and monitoring risks that may affect project objectives on scope, schedule, cost and quality, as well as outlining appropriate responses to eliminate or mitigate adverse effects to business operations, company property, resources, reputation, and the environment. This will cover the processes of conducting risk management from planning to execution to enhance the probability of meeting project goals and deliverables.

Topics comprise:

1. Risk Management: Identifying Risks; Performing Qualitative and Quantitative Risk Analyses; Planning Risk Responses; and Monitoring / Controlling Risks.
2. Identifying External and Internal Stakeholders having different influences on identified risks.
3. Risk Response Scoping: Collecting Requirements; Defining the Scope; Creating the Work Breakdown Structure; Validating and Controlling the Scope Baseline.
4. Risk Response Scheduling: Defining Activities; Sequencing Activities, Estimating Activity Resources; Estimating Activity Durations; Preparing the Schedule; and Controlling the Schedule Baseline.
5. Risk Treatment Cost: Cost Estimating; Creating the Budget; Controlling the Cost Baseline.
6. Preparing the Detailed Risk Response Execution Plan.

ENTRY COMPETENCIES of Participants (Prerequisites):

Target participants are registered and licensed professionals who are assigned/designated to handle projects as PICs (project-in-charge), PMs (project managers), Construction Managers, Supervisors, and other Professionals handling or involved in projects. While the number of years is not required in the practice, it is imperative that the participant should have an adequate knowledge on the business processes and procedures of the industry he/she is into to be able to define in details the project objectives with regard to scope, schedule, cost and quality.

COURSE OBJECTIVES/LEARNING OUTCOMES:

Competencies to be gained from the program:

1. Participants will enhance their project management skills. They would know how to conduct risk management in their projects to meet project objectives.
2. Participants would know the process of identifying risks and performing qualitative risk analysis, i.e., prioritizing risks by assessing their probability of occurrence and impact.
3. Participants would be able to perform quantitative risk analysis, i.e., numerically analyzing the effect of risks on project deliverables.
4. Participants would know the process of developing risk responses to enhance the possibility of meeting the project goals.
5. Participants would know how to prepare the Detailed Risk Response Execution Plan.
6. Participants would know the process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk- process effectiveness throughout the project life cycle.
7. Participants would be able to include the relevant risk responses into the scope baseline.
8. Participants would be able to create the updated project schedule / timeline covering the risk responses.
9. Participants would be able to estimate the updated cost of the project and create the project budget covering the risk response treatments.
10. Participants would be able to define criteria in measuring and monitoring project risks into High, Medium or Low, in terms of scope, schedule, and cost while the project is in progress.
11. Participants would be able to set controls on every deliverable to be able to manage variations on scope, time, and cost.
12. Participants should be able to close and turn-over the project at the client's and/or management's satisfaction.
13. Participants would be able to deliver projects within the bounds of time, cost, and scope with the use of globally accepted project management tools and techniques.
14. Participants would be able to acquire training hours necessary in taking the Project Management Professional (PMP) exam since the international PMI standards will be used in the training.