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Risk Management Training: Identification, Assessment, and Control


Course Description

This 2-day training steps you through the fundamental building blocks to create a strategy for implementing a successful Risk Management Framework. During the class, the participants will receive hands-on instruction while preparing control strategies that ultimately help you reduce risk and achieve the optimized project execution at the lowest total cost. This training takes a holistic approach that address Risk Management based on ISO 31000, Project and Construction Management Risk, and Risk Management Plans. Moreover, supporting people, business process, data and enabling technologies critical to success will also be tackled. 

Learning Objectives:

  • Identify the Scope of ISO 31000 Risk Management and its benefits
  • Create a Risk Based Management Framework
  • Identify Key Risk Areas in Project & Construction Management
  • Create a Risk Management Plan
  • Utilize Risk Management Tools in Creating a Mitigation Action Plan

Course Outline

Day 1

  • An Introduction to Risk Management
    • ISO 31000
    • Risk Ownership
  • Understanding Risk
    • Risk Drivers
    • Activity 1: Case Study 1a
  • Measuring Risk
    • Tools and Techniques
    • Risk Prioritization
    • Activity 2: Case Study 1b
  • Review of Case Study 1a + 1b
  • Risk Culture
    • Roles and Responsibilities
    • Culture and Challenges
    • Risk Appetite
  • Risk Culture
    • Activity 3: Case Study 1c
  • Risk Treatment
    • Accept
    • Mitigate
    • Transfer

Day 2

  • Risk Management Plans
    • Preparation
    • Review
    • Business Alignment
    • Risk Register
  • Project and Construction Management Risk
    • Activity 4: What Could Go Wrong?
    • Key Risk Areas
  • Black Swans
    • Definition
    • Activity 5: Case Study 2
    • Black Swans in Industry
    • Unmanaged Risks
  • Enterprise Risk Management (ERM)
    • Critical Success Factors
    • Integration
    • Systems & Software
    • Monitoring & Controlling Risk
    • Sustaining ERM
  • Risk Management Benefits
  • Next Steps