Introduction

In the dynamic world of project management, risks are an inevitable part of every project, and sometimes, they can arise from the most unexpected places. Despite years of experience, even seasoned project managers and supervisors may overlook or underestimate certain risks, leading to project delays, cost overruns, or compliance issues.

This Project Risk Management & Compliance course is designed to raise awareness about the importance of risk management in project management and teach participants how to effectively mitigate risks while ensuring compliance with regulatory requirements.

Managing risks proactively is essential for the success of any project, as it helps avoid surprises and reduces the impact of unforeseen events. This course will provide you with the necessary tools, techniques, and knowledge to navigate the complexities of project risk management and compliance management. By mastering risk management and compliance, you'll be able to enhance project delivery, meet deadlines, and ensure that your project is fully compliant with legal and safety standards.

Project Risk Management & Compliance Course Objectives

• Identify probable risks and understand how they can impact project success.
• Learn to create an efficient action plan to manage and mitigate risks effectively.
• Understand how to comply with industry safety standards and government regulations.
• Master various risk assessment techniques to ensure a systematic approach to risk management.
• Learn how to consistently execute successful projects by incorporating robust risk management and compliance strategies.

Course Methodology

This course uses interactive lectures, real-life case studies, group discussions, and practical activities to engage participants and ensure practical application of the concepts learned.

Who Should Take This Course

• Project Managers
• Project Engineers and Team Leaders
• Compliance and Risk Management Officers
• Auditors and Quality Specialists
• Supervisors and Coordinators in Project-based Roles

Project Risk Management & Compliance Course Outlines

Day 1: Overview of Project Management

• Project Life Cycle: Understand the different phases of a project from initiation to closure. Learn how risk management is integrated into each phase.
• Project Management Processes: Gain an overview of project management processes, including scope, time, and cost management, and how these processes are impacted by risk.
• Project Roles and Organizational Structure: Learn about the roles of project managers, team members, and stakeholders in managing risks and ensuring compliance.
• Project Management Process and Knowledge Areas: Understand how project knowledge areas intersect with risk management and compliance requirements.
• Introduction to Risk Management: A foundational session to understand the importance of project risk management and its connection to project success.

Day 2: Risk Management System

• Decision Trees: Explore the use of decision trees in project risk management to analyze different possible outcomes and scenarios.
• Risk Prioritization: Learn techniques for prioritizing risks based on their potential impact on project success, helping you focus on the most critical issues.
• Benefits of Project Risk Analysis and Management: Understand how effective risk management can lead to better project outcomes, reduced costs, and increased stakeholder confidence.
• Sources of Risk: Identify common sources of risks in project management, including technical, financial, and external factors.
• Risk as an Opportunity: Learn how to view risk not just as a threat but also as an opportunity for improvement and innovation.

Day 3: Value Management & Risk

• Behavioral and Cultural Factors: Examine how organizational culture and human behavior affect risk perception and management.
• Environment & Stakeholders: Understand how external factors, such as political, economic, and environmental influences, impact project risks.
• Compiling the Risk Management Plan: Learn how to develop a comprehensive risk management plan that outlines risk identification, assessment, and mitigation strategies.
• Risk Identification and Risk Assessment: Gain practical knowledge in risk assessment techniques, including qualitative risk assessment methods.
• Quantitative Methods for Risk Assessment: Learn quantitative risk assessment techniques for analyzing risks in terms of probability and impact.

Day 4: Planned Responses to Risk

• Risk Registers & Their Operation: Understand how to create and maintain a risk register, which tracks risks throughout the project life cycle.
• Risk Ownership: Learn about assigning ownership to specific risks and ensuring that the responsible party takes action.
• Quality & Quality Management: Understand how quality management practices contribute to reducing project risks.
• Scheduling, Planning & Work Definition: Learn how to integrate risk management into project scheduling, planning, and work breakdown structures.

Day 5: Plan and Perform Mitigation Actions

• Tracking Risks: Discover effective ways to track and monitor risks as the project progresses, ensuring that mitigation strategies are executed timely.
• Risk Documentation: Learn the importance of proper risk documentation to ensure that risks are consistently managed and tracked.
• Compliance Verification Prior to the Deadline: Understand how to verify compliance with safety regulations and standards before project deadlines.
• Client Communications and Feedback Analysis: Learn how to manage client expectations and gather feedback to address potential risks and ensure compliance throughout the project.

Conclusion

By successfully completing this course with Gentex Training Center, participants will gain the ability to proactively identify and manage project risks, while aligning with compliance standards. This knowledge enables professionals to increase project success rates, optimize resource use, and build trust with stakeholders through effective risk and compliance practices.