What is risk? What types of risk are there? Can it be positive, negative or neutral? We discuss and provide an overview of risk management in this section.

What is COSO ERM cube and ISO 31000? Find out more in this section of the course.

Evaluating and establishing the risk management context will be demonstrated to participants through this section.

A simple method to following the process of risk management. Most of the rest of the session will be discussing the individual areas.

We put all this knowledge to action by asking the participants to design and complete a basic risk assessment.

After the activity of a basic risk assessment, we then help the team determine the response and create a plan for action.

We then develop the components of reporting, monitoring and evaluation of the program the participants created earlier on in the session.

Using the risk information to re-design the job plan
Risks and Dangers : How they interact to one another
Considering hazard at every phase of the project
Represent risk choices in your job strategies
Recording the results of the risk management process
Factors affecting risk management
Track and Review Controls
Using hazard information to make choices
Identifying and Quantifying hazards in all stages of a project
Select and Implement controls
Recording the findings and implement them
Identify hazards and assess their risks
Risk Identification
Risk Management Essentials
Define the Risk Management Process
Understand how to get an eventuality that is realistic for your contracts in order to enhance competitiveness as a more tender or for getting project capital
Quicker and more focused contract negotiations to be enhanced by quantify problems
Understand the best way to develop an integrated risk management procedure for many of your contracts/job to lessen business risk
The 6 Steps to Risk Assessment
Learn how to use Risk Management Procedures to ensure the contract is robust
Develop contracts that are more fair using risk management
Assess the hazards and choose the precautions
Who should be responsible for every risk
Foreseeing and making a decision on how and who might be harmed
Review and update your risk assessment when needed

Responding to Risks

In this session, participants are going to learn about the four T’s of responding to risks: Tolerate, Treat, Transfer, and Terminate.

Reaction Planning

This session will give participants a checklist of items to include within their contingency plan.

Resourcing Controls

Participants will explore controls which can be put into place to mitigate hazards.

Reviewing and Appraising the Framework

The next part of the session will give participants a checklist for reviewing their risk management application.

Assessing Hazard

Next, participants are going to understand just how to design a basic risk assessment procedure. They will also begin work on a case study that will be used during the day.

Reporting and Monitoring

In this session, participants will discuss reporting hierarchies and prerequisites.

Understanding Threat

In this session, you’ll talk about the key components of establishing your risk management context, kinds of threats, as well as the definitions of hazard and hazard management. To wrap up the session, you will review two key risk management models: the COSO ERM cube and the ISO 31000 risk management standard.