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Overview
Too often risk management is seen as reactive, but nothing could be further from the truth. In this course you will learn to work through a proactive approach to risk threat and opportunity. You will address how to identify, quantify, control and respond to risk management in the context of the project life-cycle. Learn qualitative and quantitative techniques and tools for assessing the impact of risk. Through interactive exercises and case studies, participants will be able to apply risk management theories, concepts and principles to real-world situations.
Who Should Attend?
This course is designed for:
- Executives, Top and Middle Management staff
- Project Managers, Engineers, Controllers
- Those who work in the Oil & Gas, Engineering & Construction, Power & Utility sectors of the economy
This course is perfect for those who need to:
- Identify risks and opportunities to maximise project performance
- Calculate the best way to use your available resources across the project
Objectives
By the end of this course you will be able to:
- Define risk and risk management
- Identify risks using various methods
- Assess the potential impact of risk factors
- Use a practical, eight-step process to manage project risk
- Identify threats and opportunities and weigh their relative value in your project
- Control multiple risks using limited strategies
- Write a risk management plan for a project using a proven risk management plan template
- Overcome psychological barriers to risk in stakeholders and team members
Contents
1. Introduction to Risk
- Definition and characteristics of "risk"
- Elements and factors of risk
- Event (future occurrence)
- Probability (uncertainty)
- Impact (amount at stake)
- Types of risk
- Components of risk management
- Identification
- Quantification
- Response development
- Response control
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2. Risk Management Planning and Identifying Risks
- Risk management planning
- Risk identification
- Idea generation tools and techniques
3. Analysis Fundamentals
- Probability and impact
- Presenting risk
- Narrative
- Qualitative
- Quantitative
- Probability analysis
4. Analysing and Prioritising Risk
- Determining risk tolerances
- Analysing risks
- Establishing and evaluating profitability
- Risk-based financial tools and techniques
- Expected-value analysis
- Decision trees
- Prioritising risks
5. Risk Response Planning
- Risk response strategies for opportunities and threats
- Risk acceptance
- Risk avoidance
- Risk mitigation
- Probability minimisation
- Impact minimisation
- Transference
- Establishing reserves
6. Risk Execution, Evaluation and Updating
- Risk Response monitoring and control
- Execute risk strategies
- Contingency plans and work-arounds
- Risk evaluation
- Reassessing risk
- Risk documentation
Duration
3 - 5 days
Course Fee
N175,000.00
For registration and further details
Send e-mail to
training@firstfossil.com OR info@firstfossil.com
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