Construction Risk: An Introduction to Construction Risk Management | Live, ONLINE

Type construction + risk into any search engine and you’ll find that there are few comprehensive entries. Construction is risky business; in fact, you could say that a construction project is all about undertaking and managing risk. But what is risk? What are the risks specifically faced during a construction project? How are they identified and categorized? How do they change depending on the perspective of the stakeholder? How does one assess the severity or probability of those risks? Most importantly, how are those risks then mitigated and managed?

What is a risk management plan? A risk management plan begins by creating a comprehensive check list of various risks faced organized by category. Once a project is considered, a tailored list of possible risks is created and organized. Each risk is the assessed and analyzed in order to create a management and mitigation plan which may include various mitigation tools. The risk analysis tools are continually monitored and re-assessed to determine the real time outcome of the implemented plan.

Unit one – Introductions, objectives, definitions and risk discovery
Unit two – Risk registry tool and risk assessment
Unit three - Risk mitigation processes and risk management tools
Unit four – Capstone project, contingencies, monitoring and reporting

We recommend that students have some experience and knowledge in the topic of construction project management/administration.

Those with less experience are welcome to attend but may find it hard to appreciate the material without prior experience or context.

Live, Online, Instructor-led training.

• Online discussions using a slide presentation will provide the basis of the course. Participants will be provided with various spreadsheet based tools to use in the development of a strategic risk management analysis and mitigation plan. Risk assessment matrixes will be provided to assist registrants in risk analysis methods. Each unit will have practical exercises so that registrants will apply learned processes and methods immediately. A master risk registry tool will be provided to consolidate the process and registrants will be shown how to apply and use this tool. Registrants will occasionally work in groups to complete exercises and apply learning in a collaborative environment.
• This course is facilitated by the instructor on the Zoom platform. Access information will be provided to you in advance of the training.
• You will be expected to have your webcam on during the class and participate in group discussions and other activities with your instructor and classmates during the course.

This course is delivered in partnership with local construction associations. You will be participating with a cohort of industry peers from multiple regions.

Please make sure you have the following:

• Computer or laptop with webcam: This course will involve on-screen interaction with your instructor and classmates, reading/viewing on-screen content like slides or videos, and interacting via typing with questions or responses. For this reason, we recommend that you have a full computer/laptop set-up and don’t recommend using a cell phone or tablet to attend the training.
• A quiet space with minimal distractions: plan to be fully engaged in the class and clear your work schedule just as you would for attendance in an in-class program.

All construction industry stakeholders need to be aware of the concept of risk. Business owners, project managers, estimators, supervisors, field engineers and administrative staff will all benefit from this course.

What will the course cover?
• Definition of construction risk.
• Categories of risk.
• Risk from different stakeholder’s perspectives.
• Identification and discovery of risk.
• Risk assessment tools and processes.
• Strategic risk management planning and risk mitigation tools.
• Risk reassessment and monitoring.
• Risk allowances and contingencies.
• Implementation of risk management tools.

Upon successful completion of this course, participants will be able to:
1. Clearly define construction risk.
2. Identify and categorize several types of construction risk.
3. Assess risk potential.
4. Strategize and employ risk management and mitigation techniques.
5. Monitor and re-assess risk in real time.
6. Implement the use of risk management tools.