Risk in Construction Projects Wokshop
About the Course
This course covers risk identification, analysis, mitigation, and response planning tailored to construction environments. Participants will explore real-world case studies and learn to apply risk management tools to reduce uncertainty and improve project outcomes.
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Course Outline
1. Introduction to Risk in Projects
Understanding the fundamentals of risk and its impact on project success.
2. Identification of Risk Items
Techniques for listing and categorizing potential risks in construction projects.
3. Developing a Risk Management Plan
Steps to create a comprehensive and actionable risk management strategy.
4. Assessing Cost and Schedule Impacts
Methods to evaluate the effects of risks on project budgets and timelines.
5. Risk-Based Decision-Making
Frameworks for making informed decisions under uncertainty.
6. Risk Mitigation Strategies
Proactive approaches to minimize the likelihood and impact of risks.
7. Establishing Risk Reserves
Calculating and allocating contingency reserves to manage unforeseen risks.
8. Statistics and Probability in Risk Analysis
Leveraging statistical tools to quantify and analyze risk probabilities.
9. Monte Carlo Analysis
Using simulation techniques to model risk scenarios and predict outcomes.
10. Hands-On Exercises with Excel Add-In Tools
Practical application of risk analysis concepts using advanced Excel add-ins.