Risk Assessment

Course Outline

The primary purpose for the formal risk management process is to provide Management, Staff and Contractors with the necessary tools to assess and manage project-related risk. When risks are understood and their consequences are measured, decisions can be made to allocate risks in a manner that minimizes costs, promotes project goals and ultimately aligns the project team with the project needs and objectives.

Topics covered:

  • Terminology
  • Hazards and Risks
  • Risk assessments
  • 6 Step Risk Assessment process
  • 4Ts
  • 7Es
  • Impact identification 

Course Information

Estimated Time: 30 days

Difficulty: Advanced

Categories:

Course Instructor

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Limited Access

R1,658.00
30 days of access

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Contents

Introduction
Purpose

Terminology

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Hazards and Risks

The Universal Link between Hazards and Risks
Types of Hazards and Associated Risks

Risk Assessments

The Importance of Doing Risk Assessments
Risk Management Objectives
Values and Benefits
Categories of Risk
Levels of Sophistication in Dealing with Risks
Components of Risk Management Process
General Principles of a Risk Assessment Process

The Risk Assessment Process

Step 1 – Risk Identification
Identifying Project Risks
Step 2 – Risk Analysis
Techniques of Control 
Impact Definitions
Step 3 – Risk Strategies and Control
Risk Response Strategies
Step 4: Risk Management Planning (Avoid, Mitigate, Transfer or Accept)
Step 5 – Contingency Planning
Step 6 – Monitoring and Evaluation

Conclusion: Risk Management Maturity

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