Project Risk Management (Online)

Description

Risks must be considered in all engineering projects. This online PE PDH course examines both the positive and negative sides of risk management.

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This professional engineer online PDH course assists the engineer in dealing with risk by helping the engineer to identify risks; quantify, prioritize and develop responses to risk; outlining of methods for setting up contingencies; handling risk during the project, and closing a risk.

Merriam-Webster defines risk as “the possibility that something bad or unpleasant (such as an injury or loss) will happen; someone or something that may cause something bad or unpleasant to happen; a person or thing that someone judges to be a good or bad choice for insurance, a loan, etc.”

Projects are inherently risky: the project may involve a potentially unsafe working environment, there may be new technology or design standards involved, the project may be a target for protests or terrorism, or the ever-popular scope creep.

But risks can also be positive. There may be opportunities for a company to get into a new market, enhance their profit, or enhance their profit. In this risk management training, we will examine both the positive and negative sides of risk management.

This risk management online course is accepted for PDH credits for all states except New York.

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Course Objectives

Upon completion of this project risk management PDH course the professional engineer will be able to:

1. Understand what project risk management is, and why it’s so important to project management.
2. Be able to identify several categories of risks and to identify risks within those categories.
3. Appreciate that project risk encompasses not just negative events or threats, but opportunities as well.
4. Understand how to quantify and prioritize risks.
5. Be familiar with means to respond to project risks.
6. Know how to track and control risks throughout the project, and identify and handle new risks that emerge.
7. Be exposed to several methods for setting contingency.
8. Understand (from the viewpoint of the engineer or contractor) the key contract clauses that can typically cause headaches on projects, and how to protect the company’s interests.
9. Understand (from the viewpoint of the organization procuring the contractor’s or engineer’s services) how to protect the organization’s interests.
10. Be introduced to bonding to minimize project risk.
11. Be familiar with methods for handling risk during project execution.

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