Construction Risk Management Tools and Techniques

Thursday, November 28

9:00 a.m. – 4:30 p.m.

 

 

This one day workshop explains the risk management process for a typical construction project from risk planning and assumptions analysis to risk monitoring and control. The course covers the following risk management processes, which are applicable to typical phases of a construction project: risk planning, risk identification, qualitative and quantitative risk management techniques, risk response planning, and risk monitoring and control. Attendees will be required to participate in group hands-on exercises and case studies.

 

Topics Include:

  • Introduction to Project Risk Management: definitions, concepts, and applications
  • Plan Risk Management: inputs to planning risks, risk planning tools and techniques, identify defective risk management plans, probability & impact scales, risk threshold and stakeholders’ tolerance, risk owners, risk register, warning signs, and exercises.
  • Identify Risks: risk breakdown structure, risk identification tools & techniques, create your risk register group exercise.
  • Perform Qualitative Risk Analysis: inputs requirement, qualitative analysis tools & techniques, risk prioritization, risk register update, group exercise: Probability-Impact Matrix creation for a risky project.
  • Perform Quantitative Risk Analysis: inputs requirements, quantitative risk analysis tools and techniques (Monte Carlo Simulation, Expected Monetary Value Analysis, Decision Tree Analysis, and Fault Tree Analysis), fault tree exercise.
  • Plan Project Risk Responses: avoidance, mitigation, passive acceptance,  proactive acceptance, transfer, examples and case study exercise.
  • Monitor & Control Project Risks: Main Inputs, Tools & Techniques, and Outputs

 

Course Outcomes

Upon successful completion of this course, participants will be able to:

  1. Compare different Risk Management Plans for a typical Multi-Disciplinary Construction Project and identify the content of the best plan,
  2. Develop a risk breakdown structure, using different brainstorming techniques,
  3. Identify risks for inclusion in the Risk Register, using a case study,
  4. Apply different risk prioritization techniques to rank project risks,
  5. Practice quantitative techniques to determine additional project contingency to the budget,
  6. Plan Project Risk Responses,
  7. Monitor and Control significant risks and implement proper mitigation strategies

 

Instructor: Mohamed, Elbarkouky, Project Management Training Solutions Ltd.

About the instructor: Dr. Elbarkouky is an expert in project management and control.   He has more than 20 years of practical experience in his field of practice.  He managed and controlled a large number of complex projects  in Canada, the U.S., Europe, Africa, and the Middle East.   He has extensive experience of oil and gas, power plants, infrastructure, and building construction projects.  Dr. Elbarkouky has a Ph.D. in construction engineering and management from the University of Alberta.  He is also a Professional Engineer and a Project Management Professional (PMP) of the PMI. He is the CEO of a project management training organization that is specialized in teaching professional and academic courses in project management, risk analysis, contract administration, scheduling, cost estimation, and project planning and control in Alberta, Saskatchewan, BC, NL, and NWT.

 

Cost (plus hst): Member: $475.00 / MNL Rate: $552.50 / Non-Member Rate: $650.00

 

Please click the link below to register or  click here to download the registration form.

Register

Guest Speaker: Mohamed (Mo) Elbarkouky, Project Management Training Solutions Ltd.

Topic: Management