This self-paced course is designed to provide valuable insights on risk management in the construction environment. It is accredited by the Engineering Council of South Africa (ECSA) and those holding a PMI Certificate will be eligible to earn 14 PDUs from the Project Management Institute (PMI). Risk management is a crucial aspect of the construction industry as it can significantly impact the success or failure of a project. This course covers all aspects of risk management, including planning, risk identification, analysis, and response. It also emphasizes the importance of implementing and monitoring chosen risk responses throughout the project. In the construction industry, risks can take various forms, such as financial, technical, and legal issues. Proper risk management helps identify and mitigate these risks, leading to more successful and profitable projects. The future outlook for understanding risk management in the construction industry is positive, as there is a growing recognition of the importance of this skill. As the industry becomes more complex and competitive, the demand for professionals with advanced risk management skills is likely to increase.

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This course is based on:

 

• The PMBOK® Guide – 6th Edition (2017).

• The PMBOK® Guide – 7th Edition (2021).

• The Practice Standard for Risk Management – 2009 Edition.

• The Standard for Risk Management in Portfolios, Programs, and Projects– 2019 Edition.

• The Construction Extension to the PMBOK® Guide - 2016 Edition.

• Navigating Complexity: A Practice Guide – 2014 Edition.

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Obtain your certificate and differentiate yourself from others

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Earning a certificate in risk management can enhance your portfolio and LinkedIn profile, demonstrate your knowledge and skills in this field, set you apart from other candidates, and potentially open up new job opportunities. It can also show that you are dedicated to staying up-to-date on industry best practices and have the necessary skills to succeed in a project management role. Many employers prioritize hiring candidates with advanced training and certifications, making a certificate in risk management a valuable investment in your career.

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Some of the topics covered in this course:

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• This course outline covers a wide range of topics related to risk management in project management. The introduction provides an overview of the course and sets the stage for the material that will be covered.

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• The background to risks section provides a context for understanding the importance of managing risk on projects. It covers the fundamental concepts of project risk and how it is managed as part of the overall project management process. It also covers key terminology and the benefits and barriers to effective risk management.

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• The planning for risk management on projects section covers the process of planning for risk management on a project. This includes identifying the factors that influence risk, determining the inputs required for risk management planning, and selecting the appropriate tools and techniques to use. The risk management plan is also discussed in this section.

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• The identifying risks section covers the process of identifying risks on a project. This includes identifying the sources of risk and using appropriate inputs and tools and techniques to identify risks. The risk statement and risk register are also discussed in this section.

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• The analyzing risks section covers the process of analyzing the probability of occurrence and impact of identified risks. It also covers qualitative and quantitative risk analysis, as well as other risk parameters that may be considered.

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• The responding to risks section covers the process of developing and implementing strategies for dealing with identified risks. This includes identifying risk response strategies for individual risks and overall risks, as well as implementing those strategies.

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• The monitoring and controlling risks section covers the process of monitoring and controlling risks on a project. This includes using trend analysis to track the status of risks over time and using appropriate inputs, tools, and techniques to monitor and control risks.

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What are the learning objectives of this course and how can they be applied to your job.

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Upon completion of this course, professionals will be comfortable with the following skills learned in this course, which will differentiate themselves from their colleagues and make them more attractive to potential employers. Tacit Skills goes the extra mile to ensure that professionals understand and are comfortable using these new skills. Upon completion, delegates should be equipped to: appreciate the need for the management of risk in the construction environment; provide a framework and process for the management of risks; identify and prioritize potential risk events; use established risk management tools and techniques to assist in the analysis, management, monitoring, and reporting of identified risks; develop and implement risk management response strategies; and understand the overall management of risk process.

There are several reasons why you might want to consider a career in risk management.

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The future of risk management in the construction and engineering environment is likely to see a continued emphasis on proactive and data-driven approaches. With the increasing use of technology and data analytics in the industry, professionals will have access to more information and tools to identify and assess risks. This will allow them to make more informed decisions about how to mitigate risks and effectively manage projects.

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There is also likely to be a focus on adopting more integrated and collaborative approaches to risk management. As the construction and engineering industry becomes more complex and interconnected, the ability to effectively coordinate and collaborate with different stakeholders, including clients, contractors, and consultants, will be key to successful risk management.

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Overall, the future of risk management in the construction and engineering environment will require professionals to have a strong understanding of both traditional risk management practices and emerging technologies and approaches. By staying current on industry trends and adopting a proactive and data-driven approach to risk management, professionals will be well-positioned to succeed in the rapidly evolving industry

Accreditation earned on completion of this course:

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Earning ECSA CPD points is valuable for professionals in the construction industry as it demonstrates their commitment to staying current and continuing their professional development. By completing this course and earning ECSA CPD points, professionals can showcase their dedication to best practices and expertise in risk management.

 

Upon completing this course, professionals will earn 2 ECSA Continuing Professional Development (CPD) point and 14 Project Management Institute (PMI) Professional Development Units (PDUs) for PMP certificate holders. The course includes 64 high-quality videos that are regularly updated, tests and assignments to assess understanding of the material, and a certificate that can be added to your portfolio upon completion. The course is available online 24/7 on any device and includes lifetime access to the materials. You can access the course at any time from any device, including mobile or desktop, without the need for any downloads. You will also have access to a course group where you can connect with fellow students, ask the instructor questions, and share your experiences.