Project Risk Management & Best Compliance Practices In-House Training Course Abu Dhabi , UAE

Course overview

In today's business landscape, managing project risk effectively is a significant challenge that many organizations grapple with. A myriad of factors can influence a project's success or failure, and these complexities often lead to the manifestation of various risks. Ensuring project completion within time and budget constraints without compromising quality, while navigating these potential pitfalls, requires a comprehensive understanding and robust management of project risk.

Our Project Risk Management Training & Best Compliance Practices course is part of a larger selection of organizational risk management courses provided public, online and in-house serves as a solution to this prevalent problem. This course equips participants with the requisite knowledge and skills to improve their project risk management capabilities significantly. Our goal is to provide you with the opportunities to bolster your understanding of project risk, enabling you to navigate, assess, and control these uncertainties effectively.

The key objective of this project and risk management course is to help participants recognize, analyze, and mitigate project risks. Through this training, you will:

• Gain insights into project risk management, enhancing your ability to manage potential pitfalls and uncertainties effectively
• Develop a comprehensive understanding of project compliance best practices
• Learn to establish and implement robust risk management procedures early in the project lifecycle
• Cultivate the skills to involve all crucial parties in the risk management process
• Learn to review project risks and their mitigation strategies regularly
• Acquire the knowledge and skills to develop contingency plans for potential risks

Who Should Attend

This project risk management certification is designed for:

• Project Owners
• Project Managers, Risk Managers, and Project Team Leaders
• Personnel involved in carrying out project work assignments
• Project Administrators, Supervisors, and Support Staff
• Project Planners, Schedulers, Cost Controllers, and Engineers
• Personnel working for project contractors and suppliers

What will you gain

Upon completion of the Project Risk Management & Compliance course, participants will be able to:

• Understand and mitigate the interconnected risks that impact project quality, time, and cost
• Develop proactive and reactive risk management strategies
• Understand the importance of the organization's overall risk management strategy and its impact on project risk management
• Develop a project risk management strategy and specific risk evaluation criteria
• Avoid overwhelming analysis that impacts project timelines
• Monitor and control risk response plans effectively
• Develop a proactive approach to monitoring criteria
• Develop alternative risk management processes
• Use appropriate quantitative techniques based on project characteristics
• Apply suitable methods for qualitative risk assessment
• Evaluate external and internal sources of risk during planning and emergent risk during implementation

Course content

• Risk Management and Project Principles
  • Nature of project and risks
  • Project scope triangle
  • Stakeholder risk attitudes
  • Risk management responsibilities and processes
• Owner’s Risk
  • Role and risk responsibilities of different stakeholders
  • Managerial attitudes towards risk and uncertainty
• Types of Risks Based on their Source
  • Financial, legal, operational, strategic, technological risks
  • Risks related to cost, schedule, performance, market, governance, and external hazards
• Types of Risks Based on their Nature
  • Fundamental, particular, speculative, and pure risks
• Project Uncertainty
  • Difference between uncertainty and risk
  • Consequences of project uncertainty
• Approach to Risk Management
  • Concepts of risk appetite, attitude, and capacity
  • Introduction to Project Risk Management Plan
• Proactive Risk Identification
  • Proactive approach to risk identification
  • Analysis of project environment, SOW, WBS, budget, schedule
  • Review of project-related documentation and potential threats
• Risk Analysis and Evaluation
  • Understanding risk ownership in different contract types
  • Introduction to qualitative and quantitative risk assessment methods
• Approach to Risk
  • Theoretical and managerial approach to risk
• Risk Management Strategy
  • Steps for active risk management
  • Introduction to TARA Risk management strategy approach
• Risk Mitigation
  • Strategies for responding to different levels of risk
  • Exploration of risk buffering, avoidance, control, and assumption
• Risk Management Plan
  • Use of waterfall diagrams and project risk register
  • Recognizing leading indicators and other warnings
• Portfolio Risk Management
  • Overview of program-level risk analysis
  • Understanding the impact of underestimated costs and budgeting
  • Analyzing cost variance and its impact on the critical path
• Technology Risk
  • The risk of leading an AI project
  • Importance of data quality and accuracy