Risk Management: Enhancing Project Success Through the Conduct of Risk Management Proccesses

Course Duration

16 hours, 2-day training workshop

Regular Price

Php 9,200 VAT inclusive (price may change depending on headcount and venue)

Course Inclusive

Training materials & certificate of completion

Description

A number of projects fail during execution because of risks that were 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.

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 the Risk Response.
  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.

Course Objectives

The main objective of this course is to enhance the competency of Project Engineers / Managers in handling projects by teaching them how to conduct risk manangement in construction projects. A structured approach to identifying risks, ranking through qualitative and quantitative analyses, monitoring and control, and defining risk treatment options will be covered in the topics to protect the project scope, schedule and cost baselines from slippage and enhance project success, with the use of PMI (Project Management Institute) standards.

Technical 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 Treatment 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.
  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 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.

EVALUATION TOOL SPECIFIC TO COURSE OBJECTIVES:

  1. Participants should be able to present a Project Risk Management Plan showing identified risks, the ranking of risks based on qualitative and quantitative risk analyses, recommended risk responses, and risk tracking and monitoring plan.
  2. Presentation materials made by the participants will be checked for correctness and completeness, and will be discussed collaboratively to facilitate learning and sharing of ideas.
  3. Participants should be able to prepare the Detailed Risk Treatment Execution Plan.
    • Makati
    • +63 2 8891 0713
    • +63 2 8751 6482

    • Intramuros
    • +63 2 8524-5572
    • Intramuros
    • 658 Muralla St., Intramuros, Manila 1002, Philippines


    • Makati
    • 333 Sen. Gil Puyat Ave., Makati City 1200, Philippines