Risk Management in Construction Projects

September11--September15\ 2022  : Kuwait

Introduction

Indeed, construction projects naturally come with risks, from structural to financial. So, it is the job of managers, surveyors and engineers to be able to predict these risks and stop them from happening. This IACT course is designed for precisely these professionals with the goal of giving them the necessary skills and knowledge in construction risk management. Most importantly, these skills will benefit you, your company and additionally your profits.
At the IACT, we shape our courses for professionals engineers. Subsequently, our course schedule and teaching methods are purposefully designed to suit professionals too. Where your experienced lecturer will leave you informed and confident in construction risk management

Objectives 

1. Participants attending the training seminar will:
2. Understanding the risk management process on construction projects
3. Knowledge of the International Risk Management Standard
   Knowledge of different types of construction contracts and how they are used on different projects to manage risk
4. Risk response and treatment on construction projects
5. Understanding which tools to use to manage risk
6. How to make decisions when face with risk
7. How to prepare a risk report
8. How risks are registered
9. Understand the concept of construction risks.
10. Recognize potential risks.
11. Know how to quantify the likelihood and potential impact of risks.
12. Be aware of how to implement risk management processes that comply with JCT, NEC and FIDIC contracts.
13. Analyze potential risks and create strategies.
14. Be able to evaluate the effectiveness of the strategies implemented.
15. Be able to manage a risk register.

Who Should Attend?

This course is designed Business owners, site managers, construction managers, project managers, risk managers, foreman, contract managers, quality managers

 Course Methodology

The course uses self-assessments and a wide mix of business cases that promote healthy discussions around the importance of managing multiple tasks, deadlines and priorities. Participants will benefit from role plays covering workplace challenges related to handling tasks, deadlines and priorities. They will learn how to deal with conflicts that may arise as a result. Interactive team exercises are also used with each team presenting their findings and comments.  

This interactive training course includes the following training methodologies as a percentage of the total tuition hours:

• 30% Lectures, Concepts, Role Play
• 30% Workshops & Work Presentations, Techniques
• 20% Based on Case Studies & Practical Exercises
• 20% Videos, Software & General Discussions

Pre and Post Test

Outline 

DAY 1:  

THE NEED FOR RISK MANAGEMENT

Þ Risk Management Course Notes

Þ Self Assessment Task

Þ Risk Management Framework

Þ 1) Project Risk Management as a Cyclical Process

Þ 2) Designing a Framework for Risk Management

Þ 3) Risk Plans - what they contain, what they are used for

Þ 4) Business Risk v Construction Risk

Þ 5) Risk in Construction Projects

Þ 6) Choosing the Correct Construction Contract to Manage Risks

Þ 7) Risk Allocation

Þ Company, Human and Process Issues in Risk Management

Þ APPLICATION OF TECHNIQUES OF RISK MANAGEMENT

DAY 2 :

Analyzing and Prioritizing Risk

1) Risk Ranking

2) Registering Risks - Risk Registers

3) Qualitative Approach to Risk

4) Quantitative Approach to Risk

5) Quantifying Risks - and how to express the quantity of risk

6) Examples of quantifying risks

Risk Register

Þ Risk Response & Treatment

Þ Management Phases of Risk - Flowchart

Þ  Detailed Notes on Risk Monitoring and Controls

DAY 3 :

Types of Contracts

Risk Identification

1) Source & Effect of Risk

2) Using Checklists for Risk Identification and types of Construction Risk Classification Checklists

3) Risk Identification Methods

4) People and a Systematic Risk Process

5) The Aim of the Risk Process

Þ Work Breakdown Structure (WBS) ExampleS

Þ Demonstrating how projects can be viewed as sub-projects and referring to the various scheduling techniques.

DAY 4 :

Decision Making Under Risk

Ü The Risk Management Standards

Ü Detailed Risk Plan

Ü Risk Reporting & Risk Plans

Ü Evaluating the Risk Plan

Ü Self Assessment Task

DAY 5:

Exner's Research into Risk Management & Value for Money in Construction Projects

Þ DATA COST MANAGEMENT AND SOURCES OF COST DATA

Þ  DIFFICULTIES IN COLLECTING AND APPLYING COST DATA

Þ Project Risk Management-Uncertainties

 & Unknowns

Þ Best Practice in Construction Risk Management - Safety

Þ Construction & Infrastructure Risk

Management through Insurance

Þ Case Study to consolidate your knowledge.

 This Major Case Study Consolidates all your knowledge on the topic of Risk Management in Building and Construction

Fees:

The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack is: 3.750USD$

Schedule:

08:30 – 10:15 First Session

10:15 – 10:30 Coffee Break

10:30 – 12:15 Second Session

12:15 – 12:30 Coffee Break

12:30 – 14:00 Third Session