Manage Risk on Construction Projects (Online)

Before going into the details of risk management, it is important from the outset that you understand risk, which is defined as the likelihood and consequence of the occurrence of injury, illness and harm.

A risk can impact numerous aspects of your project, including the cost, performance and schedule. This can potentially expose your project to failure and losses. As such, it is important to establish appropriate and reliable risk management processes. In essence, risk management is a systematic process that aims to identify and evaluate risks to develop the appropriate methods and techniques to respond appropriately to them.

In this course, you will learn about the general risk management processes.

Chapter I will talk about how to undertake risk management planning by determining the risk management objectives and standards. It will also discuss the different ways by which risks can be identified. Chapter II will teach you how to analyse the identified risks using qualitative and quantitative methods.

Chapter III will examine the development of risk responses, such as risk treatments and controls.

Chapter IV will guide you on the steps to monitoring and controlling risks, especially when the risk environment changes.

Lastly, Chapter V will teach you how to analyse the project outcomes to determine whether your risk management can be considered effective.

As the project manager, you must learn how to conduct these steps correctly to prepare for and minimise your potential losses. This will enable your organisation to progress towards its goals and objectives most efficiently and effectively.