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Project Risk Management & Compliance Workshop

5 day Training

Dates:  26 – 30 August | 21 – 25 October | 18 – 22 November 2024

Locations: Johannesburg, South Africa

Platform: Available In-Class / Online

Price: Available on Request

Course Introduction

One of the key challenges in project management is the failure to adequately identify and address the routine risks that arise during project implementation. This course in Project Risk Management & Compliance is tailored to meet the unique risk profiles that emerge throughout the design and execution stages of projects. Participants will gain the necessary expertise to pinpoint and mitigate project risks by reducing uncertainty and enhancing their management capabilities. This, in consequence, will bolster their capacity to complete projects punctually, within the allocated budget, and upholding stringent health and safety standards.

 

Projects, by their very nature, are situated in fluid environments making them acutely susceptible to risks. It is, therefore, critical to adopt an evidence-based and proactive methodology to manage these risks. Every risk entails an element of uncertainty, and a fundamental goal of project risk management is to curtail this uncertainty to boost the probability of attaining the desired project results. Throughout the duration of this course, participants will be equipped with the skills to efficiently identify, evaluate, react to, and govern all risks that could potentially influence project outcomes, whether adversely or beneficially.

Course Objectives

The objectives of the Project Risk Management & Compliance training course are meticulously crafted to empower Project Managers, Team Leaders, Engineers, Risk Managers, and Project Support Personnel with the acumen and competencies essential for adept risk management throughout the entire span of a project’s lifecycle. Participants in this program will:

  • Master the art of precisely pinpointing and articulating the nature of project risks.

  • Acquire and refine skills in utilizing established methods for risk analysis.

  • Gain a comprehensive understanding of various project risk management strategies.

  • Learn to discern between risks that present opportunities and those that pose threats.

  • Develop tailored techniques to categorize risks in alignment with the specific context of the project and established risk thresholds.

  • Cultivate the ability to separate actual risks from those that are merely perceived.

Who should attend?

The intended audience for the Project Risk Management & Compliance training course includes professionals who are responsible for overseeing project progress and mitigating risks at various stages of a project. This typically encompasses:

  • Project Managers: Individuals who are tasked with planning, executing, and closing projects and are responsible for the project’s success.

  • Team Leaders: Those who lead project teams and need to understand the risks that could impact their team’s performance and project delivery.

  • Engineers: Technical professionals who must anticipate and mitigate risks related to design, implementation, and operational functionality.

  • Risk Managers: Specialists who focus on identifying, assessing, and prioritizing risks as part of a comprehensive risk management process.

  • Project Support Members: Staff who assist in various project management functions and who can benefit from understanding the risk landscape to better support project objectives.

  • Business Analysts: Professionals who analyse business needs and ensure the solutions to business problems are effective.

  • Quality Assurance Managers: Individuals who oversee the quality aspect of the project life cycle and need to understand the risks that could impact quality.

  • Operational Managers: Those responsible for the day-to-day operations of a company who can impact or be impacted by project risks.

  • Financial Analysts: Experts who need to incorporate risk assessment into project financial planning and cost control measures.

Audit, Risk and Governance courses

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Risk Management Framework and Planning

  • Key Definitions

  • The PMBOK® Six Risk Management Processes

  • Purpose & Benefits of Risk

  • Responsibilities in Project Risk Management

  • Integrating Risk Management into the Project Management Process

  • Risk Management Planning

  • Risk Planning Process

Risk Identification Process

  • The Effect of Project Macro-Environment on Risk

  • The Effect of Project Complexity on Risk

  • Risk Identification Techniques

  • Managing Risk through Project Estimating

  • Managing Risk through Earned Value Management

  • Schedule Risk Management – Critical Path Method & PERT

Risk Assessment Process

  • Qualitative Risk Analysis

  • Bow-Tie Risk Analysis Technique

  • Probability/Impact Risk Matrix Technique

  • Quantitative Risk Analysis

  • Monte Carlo Simulation

  • Decision Trees and Expected Monetary Value

  • Managing Project Risks through Integrity Assurance

Risk Response Plan Development

  • Risk Prioritisation

  • Risk Response Strategy Guidelines

  • Response Strategies for Threats & Opportunities

  • Response Planning & Analysis

  • Alternative Responses

  • Risk Response Validation

  • Contingency & Management Risk Reserves

Risk Response Control

  • Resource Management

  • Risk Control Guidelines

  • Risk Control Inputs

  • Risk Control Tools & Techniques

  • Risk Control Outputs

  • Risk Reporting & Documenting

  • Course Summation & Work Session Review

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