Construction Risk Management Training
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Construction Risk Management Training Course
Introduction:
This course provides a comprehensive overview of risk management and its relevance to the construction industry. It explores the fundamental concepts and principles underlying risk planning, analysis, response, and control. Participants will acquire the necessary knowledge and skills to apply various techniques and tools of risk management specifically tailored to construction projects.
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.