Construction Risk Management Training
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Construction Risk Management Training Course
Introduction:
This course provides a comprehensive overview of risk management principles and their practical application in the construction industry. It encompasses the entire risk management process, including planning, analysis, response, and control. Participants will gain knowledge and skills in applying fundamental risk management techniques and tools specifically tailored to construction projects.
Throughout the course, participants will be assigned various tasks and assignments to showcase their understanding of risk management philosophy and its practical implementation. The course will also feature case studies, allowing attendees to delve into real-world scenarios and exchange experiences with the instructor. These case studies serve to reinforce the course material and facilitate a deeper understanding of risk management concepts.
Course Objectives:
Upon completion of the training course, the participants will be able to:
- Explain risk management and identify project risks.
- How to communicate risk to project stakeholders.
- Perform qualitative risk analysis (direct judgment, ranking options, comparing options, description analysis).
- Perform quantitative risk analysis (sensitivity analysis, costing analysis, probability, and simulation).
- Plan and deploy risk response techniques.
- Apply risk monitoring and control as an ongoing process throughout the project lifecycle.
- Define key terminology used in managing construction risks.
- Apply tools and techniques of risk management into medium and major construction projects.
- Describe the risk specific roles and responsibilities of the project team.
- Explain software tools and applications in risk management techniques.
Who Should Attend?
Construction project managers and program managers who are or will be involved in the areas of engineering, production, data processing, research and development, construction, corporate planning, finance, and marketing. This course is of particular importance to executives, managers, and supervisors in government and industry who are concerned with effectively managing ventures and projects where cost, schedule, and performance of programs must meet rigid requirements.
Course Outlines:
- Risk Management Process.
- Elements of Project Evaluation.
- Purpose of evaluation.
- Tools for evaluation.
- Implementation of Risk Management.
- Management issues in project evaluations.
- Economic Analysis.
- Estimating the flow of money.
- Time value of money.
- Risk Response Planning.
- About risk analysis and uncertainty.
- Risk Monitoring and Control.
- Assessing, Presenting, and Managing Project Risk.
- Sensitivity analysis.
- Group Project: Risk management simulation for a
- Major Construction Project.