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This specialized program develops capabilities in identifying, analyzing, mitigating, and monitoring project risks to improve delivery outcomes in complex industrial projects.
The Project Risk Management Program provides a structured approach to identifying, analyzing, mitigating, and monitoring risks throughout the project lifecycle. It introduces risk management fundamentals including risk definitions, risk categories, project lifecycle risks, and overall management objectives. Risk identification techniques cover brainstorming sessions, HAZID workshops, use of checklists, and application of lessons learned from past projects. Risk analysis methods include qualitative and quantitative analysis, use of risk ranking matrices, and probability?impact assessment to prioritize risks. Risk mitigation planning addresses avoidance strategies, risk reduction measures, risk transfer methods, and acceptance criteria. Schedule and cost risks cover delay risks, cost overrun drivers, resource constraints, and productivity risks. Contractual and commercial risks include scope creep, claims exposure, liquidated damages, and interpretation of contract clauses. HSE and operational risks address safety risks, environmental risks, operational disruptions, and compliance failures. Monitoring and review include maintenance of risk registers, periodic reviews, KPI tracking, and early warning systems. Decision making and governance cover escalation protocols, management reporting, approval frameworks, and accountability. Case studies and practical application include analysis of project failures, success stories, lessons applied, and industry best practices.
The module highlights how thoughtful planning can directly improve project quality, reduce accidents, and help projects finish on time and within budget.
Project engineers or managers involved in risk assessment and mitigation planning.
Acquire expertise in risk identification workshops, qualitative and quantitative analysis techniques, Develop risk response strategies including avoidance, mitigation, transfer, and acceptance, Master risk register maintenance and contingency planning processes, Apply tools for risk monitoring and reporting throughout project lifecycle, Strengthen project leadership in high-uncertainty environments like EPC contracts
Trainees explore the five key phases of a project life cycle — initiation, planning, execution, monitoring & control, and closure.
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